U.S. AUTO PARTS NETWORK, INC. (NASDAQ:PRTS) 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 June 16, 2020, U.S. Auto Parts Network, Inc. (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”). A total of 41,322,564 shares of the Company’s common stock and series A convertible preferred stock were entitled to vote as of April 20, 2020, the record date for the Annual Meeting. There were 28,689,830 shares present in person or by proxy at the Annual Meeting, at which the Company’s stockholders were asked to vote on three proposals. The proposals are described in more detail in the Company’s definitive proxy statement dated April 27, 2020 for the Annual Meeting. Set forth below are the matters acted upon by the Company’s stockholders at the Annual Meeting, and the final voting results of each such proposal.
Proposal No. 1 – Election of Directors
The stockholders elected two Class II directors to serve a three-year term, until the Company’s 2023 Annual Meeting of Stockholders and until their respective successors are elected and qualified. As previously reported, David Kanen resigned from the Board of Directors prior to the Annual Meeting. The results of the vote were as follows:
Proposal No. 2 – Approval of Advisory (Non-Binding) Resolution Regarding the Compensation of our Named Executive Officers, or the Say-on-Pay Proposal
The stockholders voted to approve, on an advisory basis, the compensation of the Company’s named executive officers, as follows:
Proposal No. 3 – Ratification of the Selection of Independent Auditors
The stockholders voted to ratify the selection of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 2, 2021. The results of the vote were as follows:
No other matters were presented for stockholder approval at the Annual Meeting.
