TELKONET, INC. (OTCMKTS:TKOI) 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.
Telkonet, Inc. (the “Company”) held its Annual Meeting of Stockholders (“Annual Meeting”) on May 28, 2020. At the Annual Meeting, the Company’s stockholders approved the Telkonet, Inc. 2020 Stock Option and Incentive Plan (the “2020 Plan”), which was adopted by the Board of Directors of the Company on February 24, 2020, subject to stockholder approval. The effective date of the 2020 Plan is May 28, 2020. The 2020 Plan provides for grants of stock options (both incentive and non-qualified options), stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, performance shares, dividend equivalent rights and cash-based awards to eligible employees, officers, non-employee directors and other key persons of the Company and its subsidiaries.
A description of the material terms and conditions of the 2020 Plan is included in the Company’s Definitive Proxy Statement for the Annual Meeting filed with the Securities and Exchange Commission (the “SEC”) on April 14, 2020 (the “Proxy Statement”) under the heading “Proposal No. 3-Approval of the Telkonet, Inc. 2020 Stock Option and Incentive Plan” and the full text of the 2020 Plan is included as Exhibit 10.1 to this Current Report on Form 8-K, which description and text are incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
Set forth below are the results of the matters voted on by the Company\’s stockholders at the Annual Meeting.
a) Under plurality voting, the five nominees who receive the most “Voted For” votes are elected as directors. The certified tabulation of voting results provided by the independent inspector of elections is set forth below: