VERTEX ENERGY, INC. (NASDAQ:VTNR) 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 Vertex Energy, Inc. (the
Company, we and us) was held on June 6, 2017
(the Meeting). At the Meeting, an aggregate of 38,524,917
voting shares, or 80.2% of our 48,011,971 total outstanding
voting shares (including shares of our common stock, Series A
Convertible Preferred Stock, Series B Preferred Stock, Series B1
Preferred Stock and Series C Convertible Preferred Stock, which
vote together as a single class) as of April 26, 2017, the record
date for the Meeting (the Record Date), were present at or
were voted at the Meeting, constituting a quorum. The following
proposals were voted on at the Meeting (as described in greater
detail in the Companys Definitive Schedule 14A Proxy Statement
filed with the SEC on, and first sent to stockholders on, April
27, 2017, the Proxy), with the results of such voting as
follows:
| Proposal | |||
| For | Against | ||
|
1) |
The election of six (6) Directors to the Companys |
||
| a)Benjamin P. Cowart | 37,157,692 | 713,700 | |
| b)Dan Borgen | 37,004,649 | 1,411,651 | |
| c)David Phillips | 37,006,716 | 1,518,201 | |
| d)Christopher Stratton | 36,771,301 | 1,393,300 | |
| e)Timothy C. Harvey | 37,005,000 | 845,011 | |
| f)James P. Gregory | 36,988,504 | 1,009,970 |
| For | Against | Abstain | ||
| 2) |
To ratify the appointment of Ham, Langston Brezina, L.L.P., as the Companys independent auditors for the fiscal year ending December 31, 2017 |
38,446,866 | 16,035 | 47,760 |
| For | Against | Abstain | ||
| 3) |
To approve, by a non-binding vote, the compensation of the Companys named executive officers |
34,823,124 | 2,903,497 | 38,303 |
As such, each of the six (6) director nominees were duly
appointed to the Board of Directors by a plurality of the votes
cast (there was no solicitation in opposition to managements
nominees as listed in its proxy statement), each to serve a term
of one year and until their respective successors have been
elected and qualified, or until their earlier resignation or
removal, and Proposals 2 and 3 were separately approved and
ratified bythe affirmative vote of a majority of the votes cast
on each proposal (notwithstanding the fact that Proposal 3 is
non-binding). There were no broker non-votes cast at the Meeting.
About VERTEX ENERGY, INC. (NASDAQ:VTNR)
Vertex Energy, Inc. is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions. The Company’s product categories include Used Motor Oil, Fuel Oil, pyrolysis gasoline (Pygas), Gasoline Blendstock and Base Oil. The Black Oil division is engaged in operations across the used motor oil recycling value chain, including collection, aggregation, transportation, storage, refinement and sales of aggregated feedstock and re-refined products to end users. The Refining and Marketing division is engaged in the aggregation of feedstock, re-refining it into end products, and selling these products to customers. The Recovery division is a provider of generator solutions for the recovery and management of hydrocarbon streams.
