SUN HYDRAULICS CORPORATION (NASDAQ:SNHY) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07.Submission of Matters to a Vote of Security Holders
The Annual Meeting of Shareholders of the Company was held on
June 5, 2017. At the meeting, the following actions were taken by
the shareholders:
Douglas M. Britt was elected as a Director, to serve until the
Annual Meeting in the year 2019. Christine L. Koski and Alexander
Schuetz were elected as Directors, to serve until the Annual
Meeting in the year 2020. All Directors serve until their
respective successors are elected and qualified or until their
earlier resignation, removal from office or death. The votes cast
for and withheld were as follows:
|
Voted For |
Withheld |
Non Votes |
|||
|
Christine L. Koski |
22,089,465 |
1,013,612 |
1,913,234 |
||
|
Alexander Schuetz |
22,622,588 |
480,489 |
1,913,234 |
||
|
Douglas M. Britt |
22,363,885 |
739,192 |
1,913,234 |
||
The ratification of the appointment of Grant Thornton, LLP as the
independent registered public accounting firm to report upon the
financial statements of the Company for the year ended December
30, 2017. The voting on the ratification was as follows:
|
For |
23,338,133 |
|
Against |
1,635,537 |
|
Abstain |
42,641 |
The Advisory Vote on Executive Compensation was as follows:
|
For |
17,926,712 |
|
Against |
5,130,522 |
|
Abstain |
45,843 |
|
Non Votes |
1,913,234 |
The Advisory Vote on the Frequency of an Advisory Vote on
Executive Compensation was as follows:
|
1 year |
20,782,518 |
|
2 years |
70,080 |
|
3 years |
2,223,845 |
|
Abstain |
26,634 |
|
Non Votes |
1,913,234 |
As the Companys Board of Directors recommended, and a majority of
the votes cast approved, the Company will submit executive
compensation to the shareholders on an annual basis until the
issue of the frequency of such vote is again brought before the
shareholders.
Item 8.01.Other Events
On June 8, 2017, the Registrant issued the press release attached
hereto as Exhibit 99.1 announcing a $0.09 per share cash dividend
on its common stock, payable on July 15, 2017, to shareholders of
record as of June 30, 2017.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
99.1 Press release dated June 8, 2017.
About SUN HYDRAULICS CORPORATION (NASDAQ:SNHY)
Sun Hydraulics Corporation (Sun) designs and manufactures screw-in hydraulic cartridge valves and manifolds, which control force, speed and motion as integral components in fluid power systems. The Company operates through manufacturing and distribution of hydraulic components segment. The Company, at components level, designs and manufactures screw-in hydraulic cartridge valves, manifolds, and integrates fluid power packages and subsystems for industrial and mobile markets. It is also engaged in power controls and vehicle technologies lines of business. The Company sells its products across the globe through subsidiaries and independent distributors. It has operations in the United States, England, Germany, France, South Korea, China and India. Sun’s standard cartridge valves and manifolds are offered in multiple versions and size ranges. Its subsidiaries include Sun Hydraulik Holdings Limited, Sun Hydraulics Korea Corporation, High Country Tek, Inc. and Enovation Controls, LLC.
