SURGE COMPONENTS, INC. (OTCMKTS:SPRS) 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.
On January 5, 2017, Surge Components, Inc. (the
Company) held its annual meeting of stockholders
(the Meeting). At the Meeting, the Companys
stockholders (i) re-elected Ira Levy and Steven J. Lubman as
Class A directors of the Company, (ii) approved the compensation
of the Companys named executive officers, (iii) ratified the
appointment of Seligson Giannattasio, LLP as the Companys
independent registered public accounting firm for the fiscal year
ending November 30, 2016 and (iv) ratified a rights plan designed
to protect and preserve the substantial tax benefits of the
Companys net operating loss carryforwards (the NOL Rights
Plan).
Set forth below are the final voting results for each of the
proposals:
Proposal No. 1 Election of directors
Ira Levy and Steven J. Lubman were elected to serve as Class A
directors of the Company until the 2019 annual meeting of
stockholders or until their successors are elected and qualified
or until their earlier resignation or removal. The voting results
were as follows:
| Director | Votes For | Votes Withheld | ||||||
| Ira Levy | 6,113,895 | 108,111 | ||||||
| Steven J. Lubman | 6,115,626 | 106,380 | ||||||
Proposal No.2 Advisory vote regarding the approval of
compensation paid to named executive officers
The compensation of the Companys named executive officers was
approved, on an advisory basis. The voting results were as
follows:
| Votes For | Votes Against | Abstentions | ||||||||
| 3,367,439 | 2,834,410 | 20,157 | ||||||||
Proposal No. 3 Ratification of appointment of
independent registered public accounting firm
The appointment of Seligson Giannattasio, LLP as the Companys
independent registered public accounting firm for the fiscal year
ending November 30, 2016 was ratified. The voting results were as
follows:
| Votes For | Votes Against | Abstentions | ||||||||
| 5,668,805 | 101,893 | 451,308 | ||||||||
Proposal No.4 Ratification of the NOL Rights
Plan
The ratification of the NOL Rights Plan was approved. The voting
results were as follows:
| Votes For | Votes Against | Abstentions | ||||||||
| 5,621,126 | 117,840 | 483,040 | ||||||||
About SURGE COMPONENTS, INC. (OTCMKTS:SPRS)
Surge Components, Inc. (Surge) is a supplier of electronic products and components. The Company’s products include capacitors, which are electrical energy storage devices, and discrete components, such as semiconductor rectifiers, transistors and diodes, which are single function low power semiconductor products that are packaged alone as compared to integrated circuits, such as microprocessors. The products that the Company sells are utilized in the electronic circuitry of products, including automobiles, telecomm, audio, cellular telephones, computers, consumer electronics, garage door openers, household appliances, power supplies and security equipment. The products that the Company sells are sold to both original equipment manufacturers (OEMs) and to distributors of the lines of products it sells. Surge supplies a range of electronic components, which can be divided into approximately two categories, including capacitors and discrete components. SURGE COMPONENTS, INC. (OTCMKTS:SPRS) Recent Trading Information
SURGE COMPONENTS, INC. (OTCMKTS:SPRS) closed its last trading session down -0.03 at 1.32 with 2,309 shares trading hands.