TEL-INSTRUMENT ELECTRONICS CORP. (NYSEMKT:TIK) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k

8 years ago

TEL-INSTRUMENT ELECTRONICS CORP. (NYSEMKT:TIK) 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 18, 2017, Tel-Instrument Electronics Corp. (the
Company) held an annual meeting of stockholders (the Annual
Meeting).

As of the close of business on December 16, 2016, the record date
for the Annual Meeting, 3,255,887 shares of the Companys common
stock were outstanding and entitled to vote. At the Annual
Meeting, 2,203,470 or approximately 67.7%, of the outstanding
shares of common stock entitled to vote were represented in
person or by proxy. The matters that were voted upon at the
Annual Meeting, and the number of votes cast for or
against/withheld, as well as the number of abstentions and broker
non-votes, as to such matters, where applicable, are set forth
below.

The results of the voting at the Annual Meeting are as follows:

1. The five nominees for director were elected to serve a
one-year term as follows:

Director	Votes For		Votes Against		Broker Non-Votes	Percentage Voted For
Steven A Fletcher		2,180,255		19,200		4,015	98.9	%
George J. Leon		2,180,255		19,200		4,015	98.9	%
Jeffrey C. OHara		2,180,255		19,200		4,015	98.9	%
Robert A. Rice		2,180,255		19,200		4,015	98.9	%
Robert H. Walker		2,180,255		19,200		4,015	98.9	%

2. The proposal to ratify the appointment of BDO USA, LLP as the
Company’s independent registered public accounting firm for the
fiscal year ending March 31, 2017 was approved as follows:

Auditor		Votes For		Votes Against		Broker Non-Votes		Votes Abstained		Percentage Voted For
BDO USA, LLP		2,197,170		1,300				5,000		99.7%

3. The proposal to cast a non-binding advisory vote to approve
the compensation of the Company’s named executive officers was
approved as follows:

Votes For		Votes Against		Broker Non-Votes		Votes Abstained		Percentage Voted For
2,178,121		20,128		4,015		1,206		98.9%

The Company has decided to hold future advisory votes on the
compensation of our named executive officers every year until the
occurrence of the next shareholder advisory vote on this matter.

4. The proposal to ratify the 2016 Stock Option Plan (the Plan)
approved by the Board of Directors on December 14, 2016 under
which 250,000 shares of common stock will be reserved for
issuance to employees, directors and consultants was approved as
follows:

Votes For		Votes Against		Broker Non-Votes		Votes Abstained		Percentage Voted For
2,184,315		8,918		4,015		6,222		99.1%

A copy of the Plan was filed with the Companys Definitive Proxy
Statement on Schedule 14A which was filed with the Securities and
Exchange Commission on December 27, 2016.

About TEL-INSTRUMENT ELECTRONICS CORP. (NYSEMKT:TIK)
Tel-Instrument Electronics Corp. is a designer and manufacturer of avionics test and measurement instruments for the commercial air transport, general aviation, and government/military aerospace and defense markets. The Company has two segments: Avionics Government and Avionics Commercial. The Company’s Avionics Government segment consists primarily of the design, manufacture and sale of test equipment to the United States and foreign Governments and militaries either directly or through distributors. The Company’s Avionics Commercial segment consists of design, manufacture and sale of test equipment to domestic and foreign airlines, directly or through commercial distributors, and to general aviation repair and maintenance shops. The Company designs, manufactures and sells instruments to test and measure, and calibrates and repairs a range of airborne navigation and communication equipment. It manufactures and supplies Identification Friend or Foe (IFF) flight line test equipment. TEL-INSTRUMENT ELECTRONICS CORP. (NYSEMKT:TIK) Recent Trading Information
TEL-INSTRUMENT ELECTRONICS CORP. (NYSEMKT:TIK) closed its last trading session up +0.10 at 5.00 with 14,914 shares trading hands.