Item 5.07. Submission of Matters to a Vote of Security Holders
On
The presence, in person or by proxy, of holders of shares entitled to cast a majority of the votes entitled to be cast at the annual meeting constitutes a quorum for purposes of the annual meeting. No business may be conducted at the annual meeting if a quorum is not present.
As of the record date, 6,893,056 shares of common stock were outstanding, which means that 3,446,529 shares of common stock were required to be present in order to constitute a quorum. According to the independent Inspector of Election for the annual meeting, 2,586,109 shares of common stock were present for the annual meeting, fewer than required for a quorum.
Therefore, no business was conducted and none of the nominees for the two
director positions designated as Class III directors were elected. The two
incumbent directors currently designated as Class III directors,
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