Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The 2021 Annual Meeting of Stockholders (the "Annual Meeting") of
The 2021 Plan authorizes the issuance of the sum of: (a) 1,240,000 shares of common stock; plus (b) the aggregate number of shares of common stock subject to outstanding awards under the Prior Plan that again become available for grant under the terms of the 2021 Plan. In no event will more than 1,240,000 shares of common stock be issuable pursuant to the exercise of incentive stock options under the 2021 Plan during its ten-year term.
The 2021 Plan will be administered by the compensation committee or a subcommittee thereof (or by the Board or another Board committee as may be determined by the Board from time to time). The administrator of the 2021 Plan (the "Administrator") or its delegate will have the authority to determine which service providers receive awards and set the terms and conditions applicable to the award within the confines of the 2021 Plan's terms. The Administrator will have the authority to make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the 2021 Plan.
Under the 2021 Plan, the sum of any cash compensation, or other compensation,
and the value (determined as of the grant date in accordance with Financial
Accounting Standards Board Accounting Standards Codification Topic 718, or any
successor thereto) of awards granted to a non-employee director as compensation
for services as a non-employee director during any fiscal year may not exceed
The 2021 Plan also contains provisions with respect to payment of exercise or purchase prices, vesting and expiration of awards, adjustments and treatment of awards upon certain corporate transactions, including stock splits, recapitalizations and mergers, transferability of awards and tax withholding requirements. The 2021 Plan may be amended or terminated by the Board at any time, subject to certain limitations requiring stockholder consent or the consent of the participant. The 2021 Plan will expire in 2031.
The terms and conditions of the 2021 Plan are described in the section entitled
"Proposal No. 4 - Approval of the
On
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Item 5.07. Submission of Matters to a Vote of Security Holders.
A brief description of matters voted upon at the Annual Meeting held on
Proposal 1 - Election of Directors
The Company's stockholders elected the two persons nominated by the Board of Directors as Class III directors for a three-year term as follows:
Number of Shares Name of Director For Withheld Broker Non-Votes Cindy K. Lewis 18,466,926 38,329 2,348,177 Wahid Nawabi 17,940,623 564,632 2,348,177
Each of the above directors shall serve for a term of three years and until his or her successor has been duly elected and qualified.
Proposal 2 - Ratification of Company's Independent Auditors
The Audit Committee selected
Number of Shares For Against Abstain 20,782,696 38,757 31,979
Proposal 3 - Advisory Vote on the Compensation of the Company's Named Executive Officers
The Company's stockholders approved, by an advisory vote, the compensation of the Company's named executive officers, as disclosed in the proxy statement, by the following vote:
Number of Shares For Against Abstain Broker Non-Votes 18,281,601 185,364 38,290 2,348,177
Proposal 4 - Approval of the
The Company's stockholders approved the adoption and effectiveness of the 2021 Plan by the following vote:
Number of Shares For Against Abstain Broker Non-Votes 18,088,280 377,534 39,441 2,348,177 3
Proposal 5 - Stockholder Proposal to Elect Directors by Majority Vote
The stockholders approved, by an advisory vote, a stockholder proposal to elect directors by a majority vote by the following vote:
Number of Shares For Against Abstain Broker Non-Votes 10,744,757 6,278,061 1,482,437 2,348,177
Item 8.01. Regulation FD Disclosure.
On
On
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 10.1 (1)AeroVironment, Inc. 2021 Equity Incentive Plan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
(1) Incorporated by reference herein to Appendix A to the Company's Definitive
Proxy Statement on Schedule 14A filedAugust 16, 2021 (File No. 001-33261). 4
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