Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) 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
Annual Meeting of Shareholders
The 2020 Annual Meeting of Shareholders (the “Annual Meeting”) of Willamette Valley Vineyards, Inc. (the “Company”) was held virtually on July 17, 2020 from Turner, Oregon. A total of 3,500,420 shares of Common Stock, representing approximately 70.5% of the shares outstanding and eligible to vote and constituting a quorum, were represented in person or by valid proxies at the Annual Meeting. The final results for each of the matters submitted to a vote of shareholders at the Annual Meeting are as follows:
Proposal 1 – Election of Directors:
All of the nominees for director were elected to serve until the Company’s Annual Meeting in the indicated years with the respective votes set forth opposite their names:
Proposal 2 – Ratification of Appointment of Independent Auditors:
The shareholders ratified the appointment of Moss Adams LLP as independent auditors for the 2020 fiscal year by the votes set forth in the following table:
Proposal 3–Advisory (Non-Binding) Approval of Company’s Executive Compensation:
The Company’s shareholders approved, on an advisory basis, the compensation of the Company’s named executive officers, as disclosed in the Company’s Proxy Statement, by the votes set forth in the following table:
Proposal 4–Advisory (Non-Binding) Approval on the Frequency of Advisory Votes on the Company’s Executive Compensation:
The Company’s shareholders approved, on an advisory basis, a three year frequency period, as disclosed in the Company’s Proxy Statement, by the votes set forth in the following table:
Based on the recommendation of the Company’s board of directors in the Company’s 2020 proxy statement and the voting results with respect to the advisory vote on the frequency of future advisory votes on executive compensation, the Company has adopted a policy to hold an advisory vote on executive compensation every three years.
About Willamette Valley Vineyards, Inc. (NASDAQ:WVVI)
Willamette Valley Vineyards, Inc. owns and operates vineyards and a winery located in the state of Oregon, and produces and distributes premium, super premium and ultra-premium wines, primarily Pinot Noir, Pinot Gris, Chardonnay and Riesling. The Company operates through two segments: Direct Sales and Distributor Sales. Its Direct Sales segment includes retail sales in the tasting room and remote sites, wine club sales, on-site events, kitchen and catering sales and other sales made directly to the consumer without the use of an intermediary. Its Distributor Sales segment include all sales through a third party where prices are given at a wholesale rate. In addition, the Company holds Pairings, a focused restaurant offering a wine and food pairing lunch. The Company also operates two additional tasting rooms, one in downtown McMinnville, in the Oregon Wine Country, and at its Tualatin Vineyard.
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