Item 5.07. Submission of Matters to a Vote of Security Holders.
On June 16 2020, Fuel Tech, Inc., a Delaware corporation (the "Company") held
its Annual Meeting of Stockholders, at which the stockholders voted upon:
(a) the election of Vincent J. Arnone, Douglas G. Bailey, Sharon L. Jones,
James J. Markowsky, Thomas S. Shaw, Jr. and Dennis L. Zeitler to the Company's
Board of Directors until the Company's next Annual Meeting of Stockholders or
until they resign or their respective successors are duly elected and qualified;
(b) a proposal (i) to adopt an amendment to the Company's Certificate of
Incorporation to: effect a reverse stock split of the Company's outstanding
Common Stock at a ratio of not less than one-for-five (1:5) and not more than
one-for-twenty (1:20), and (ii) to reduce proportionately the shares of Common
Stock authorized for issuance; (c) the ratification of the appointment of RSM US
LLP as the Company's independent registered public accounting firm; and (d) an
advisory vote on executive compensation.
The stockholders elected all six directors, approved the amendment to the
Company's Certificate of Incorporation, approved the ratification of the
appointment of RSM US LLP as the Company's independent registered public
accounting firm and approved, on an advisory, non-binding basis, the Company's
executive compensation.
The number of votes cast for or against (or withheld) and the number of
abstentions and broker non-votes with respect to each matter voted upon, as
applicable, are set forth below.
Proposal 1: Election of Directors
Director For Withheld Broker Non-Votes
Vincent J. Arnone 12,763,297 803,217 6,575,749
Douglas G. Bailey 12,417,370 1,149,144 6,575,749
Sharon L. Jones 12,159,650 1,406,864 6,575,749
James J. Markowsky 11,581,133 1,985,381 6,575,749
Thomas S. Shaw, Jr. 12,087,481 1,479,033 6,575,749
Dennis L. Zeitler 12,159,954 1,406,560 6,575,749
Proposal 2: A proposal (i) to adopt an amendment to the Company's Certificate of
Incorporation to: effect a reverse stock split of the Company's outstanding
Common Stock at a ratio of not less than one-for-five (1:5) and not more than
one-for-twenty (1:20), and (ii) to reduce proportionately the shares of Common
Stock authorized for issuance.
For Against Abstain
17,618,710 2,406,974 117,588
Proposal 3: Ratification of RSM US LLP as the Company's independent registered
public accounting firm
For Against Abstain
19,674,784 339,855 128,624
Proposal 4: Advisory vote on executive compensation
For Against Abstain Broker Non-Votes
11,847,444 1,533,438 185,632 6,575,749
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