SPARTAN MOTORS, INC. (NASDAQ:SPAR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b)Retirement of Directors
On May 23, 2018, Richard R. Current and James C. Orchard retired from the Board of Directors of Spartan Motors, Inc. (the “Company”) at the expiration of their terms. The Company’s Board of Directors elected to decrease the membership of the Board to seven members, effective with the close of the Company’s annual meeting of shareholders on May 23, 2018.
|
Item 5.07 |
Submission of Matters to a Vote of Security Holders |
On May 23, 2018, the Company held its 2018 Annual Meeting of Shareholders, at which meeting 29,642,367 of the 35,089,684 shares outstanding and entitled to vote as of the March 26, 2018 record date were present and voted in person or by proxy.The matters listed below were submitted to a vote of the shareholders through the solicitation of proxies.The proposals are described in detail in the Company's Proxy Statement dated as of, and filed with the Securities and Exchange Commission, on April 12, 2018.Each of proposals 1, 2, and 3 were approved by the Company’s shareholders. The voting results are as follows:
Proposal 1, Election to the Company’s Board of Directors for a three year term expiring at the Annual Meeting of Shareholders to be held in 2021:
|
Nominee |
For |
Withheld |
Broker Non- Votes |
|
Daryl M. Adams |
22,545,885 |
1,003,548 |
6,092,934 |
|
Thomas R. Clevinger |
22,787,781 |
761,652 |
6,092,934 |
Proposal 2, Ratification of the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018:
|
For |
Against |
Abstain |
|
29,155,327 |
408,421 |
78,619 |
Proposal 3, Advisory vote on the Company’s executive compensation:
|
For |
Against |
Abstain |
Broker Non- Votes |
|
22,410,363 |
745,103 |
393,967 |
6,092,934 |
About SPARTAN MOTORS, INC. (NASDAQ:SPAR)
Spartan Motors, Inc. is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment. The Delivery and Service Vehicles segment manufactures delivery and service vehicles through the Company’s subsidiary, Utilimaster Corporation (Utilimaster). The Company’s Specialty Chassis and Vehicles segment consists of the operations of Spartan Motors Chassis, Inc. (Spartan Chassis) that engineer and manufacture motor home chassis, defense vehicles and other specialty chassis, and distribute related aftermarket parts and assemblies. The Company markets its products under brands, such as Spartan ERV, Aeromaster, Trademaster, Metromaster and Utilivan.