SNAP INTERACTIVE, INC. (OTCMKTS:STVID) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Amendment to Long Term Incentive Plan
On April 10, 2017, the Board of Directors (the
Board) of Snap Interactive, Inc. (the
Company), subject to stockholder
approval, adopted the First Amendment to Snap Interactive, Inc.
Long Term Incentive Plan (the 2016 Plan
Amendment), which was approved by the Companys
stockholders at its 2017 Annual Meeting of Stockholders held on
May 25, 2017 (the Annual Meeting). The
2016 Plan Amendment (i) increases the number of shares of common
stock issuable under the Snap Interactive, Inc. 2016 Long Term
Incentive Plan (the 2016 Plan) from
428,572 shares to 1,300,000 shares and (ii) reapproves the
performance goals under the 2016 Plan.
The foregoing description of the 2016 Plan Amendment does not
purport to be complete and is qualified in its entirety by
reference to the 2016 Plan Amendment, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated by reference herein.
Item 5.07 Submission of Matters to a
Vote of Security Holders
Set forth below are the final results of the voting at the Annual
Meeting:
| 1. |
Proposal to elect (i) Yoram Rami Abada, (ii) Alexander Harrington, (iii) Jason Katz, (iv) Lance Laifer, (v) Clifford Lerner, (vi) Michael Levit and (vii) John Silberstein to the Board, each to serve until the 2018 Annual Meeting of Stockholders or until their successors are elected and qualified. |
| Number of Shares | |||||||
| Nominees | For | Withheld | Broker Non-Votes | ||||
| Yoram Rami Abada | 4,310,208 | 24,563 | 286,888 | ||||
| Alexander Harrington | 4,285,561 | 49,210 | 286,888 | ||||
| Jason Katz | 4,285,847 | 48,924 | 286,888 | ||||
| Lance Laifer | 4,311,194 | 23,577 | 286,888 | ||||
| Clifford Lerner | 4,285,282 | 49,489 | 286,888 | ||||
| Michael Levit | 4,310,785 | 23,986 | 286,888 | ||||
| John Silberstein | 4,285,604 | 49,167 | 286,888 | ||||
| 2. | Proposal to approve the 2016 Plan Amendment. |
| Number of Shares | |||
| For | 4,278,693 | ||
| Against | 55,359 | ||
| Abstain | |||
| Broker Non-Votes | 286,888 |
| 3. |
Proposal to approve an amendment to the Companys certificate of incorporation to increase the total number of shares of common stock authorized for issuance to 25,000,000 shares. |
| Number of Shares | |||
| For | 4,492,460 | ||
| Against | 12,841 | ||
| Abstain | 1,794 | ||
| Broker Non-Votes |
| 4. |
Proposal to ratify the appointment of Marcum LLP as the Companys independent registered public accounting firm. |
| Number of Shares | |||
| For | 4,607,024 | ||
| Against | 12,841 | ||
| Abstain | 1,794 | ||
| Broker Non-Votes |
Each of the proposals acted upon by the Companys stockholders at
the Annual Meeting received a sufficient number of votes to be
approved.
Section 9 Financial Statements and
Exhibits
Item 9.01. Financial Statements and
Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 |
First Amendment to Snap Interactive, Inc. 2016 Long Term Incentive Plan. |
About SNAP INTERACTIVE, INC. (OTCMKTS:STVID)
Snap Interactive, Inc. operates a portfolio of dating applications. The Company’s dating applications include FirstMet and The Grade. The Company provides an online dating application under the FirstMet brand that is native on Facebook, iPhone operating systems (iOS) and Android platforms, and is also accessible on mobile devices and desktops at FirstMet.com. The FirstMet application is available to users and active subscribers. The Company’s online dating application under The Grade brand is native on iOS and Android. The Grade is a mobile dating application that holds users accountable to a standard of behavior by using an algorithm that assigns letter grades to users ranging from A+ to F, based on profile quality, messaging quality and reviews from other users of the application. Users with a grade of D receive a warning and instructions on how to improve their grade, while users failing to improve an F grade are at risk of expulsion. SNAP INTERACTIVE, INC. (OTCMKTS:STVID) Recent Trading Information
SNAP INTERACTIVE, INC. (OTCMKTS:STVID) closed its last trading session up +0.22 at 3.60 with shares trading hands.