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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Ideal Power Inc.    IPWR

IDEAL POWER INC.

(IPWR)
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IDEAL POWER INC. : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders (form 8-K)

06/18/2020 | 04:02pm EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

            Appointment of Certain Officers; Compensatory Arrangements of Certain
            Officers.



On June 16, 2020, Ideal Power Inc. (the "Company") held its 2020 Annual Meeting of Stockholders (the "Annual Meeting") at which the Company's stockholders approved the Ideal Power Inc. Amended & Restated 2013 Equity Incentive Plan (the "2013 Plan"). The 2013 Plan was amended primarily to (1) increase the number of authorized shares under the 2013 Plan by 350,000 shares and (2) to extend the term of the 2013 Plan to June 16, 2030. The 2013 Plan became effective immediately upon stockholder approval at the Annual Meeting.

A summary of the material terms of the 2013 Plan are set forth in the Company's definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on April 29, 2020 (the "Proxy Statement"). The summaries of the 2013 Plan set forth above and in the Proxy Statement are qualified in their entirety by reference to the full text of the 2013 Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and incorporated herein by reference.

Item 5.07. Submission of Matters to a Vote of Security Holders.

On June 16, 2020, the Company held the Annual Meeting as a virtual meeting online via live audio webcast. The Company's stockholders voted on, and approved, the following proposals at the Annual Meeting:

Proposal 1 - Election of four directors to serve until the 2021 annual meeting of stockholders and until their respective successors are elected and qualified.



             Nominee:                For     Withheld   Broker Non-Votes
             R. Daniel Brdar       587,166    6,967         605,875
             David B. Eisenhaure   581,515    12,618        605,875
             Ted Lesster           577,610    16,523        605,875
             Michael C. Turmelle   581,487    12,646        605,875



Proposal 2 - Ratification of the appointment of Gumbiner Savett Inc. as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2020.



                              For      Against   Abstain
                           1,191,469    7,570      969



Proposal 3 - Advisory vote to approve the compensation of the Company's named executive officers.



                      For     Against   Abstain   Broker Non-Votes
                    562,302   29,177     2,654        605,875




Proposal 4 - Approval of the amended Ideal Power Inc. 2013 Equity Incentive
Plan.



                      For     Against   Abstain   Broker Non-Votes
                    524,295   66,228     3,610        605,875





item 9.01. Financial Statements and Exhibits.





(d) Exhibits.



Exhibit
  No.      Description
  10.1       Ideal Power Inc. Amended & Restated 2013 Equity Incentive Plan

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2019 - - -
Net income 2019 -3,93 M - -
Net cash 2019 2,79 M - -
P/E ratio 2019 -0,97x
Yield 2019 -
Capitalization 23,8 M 23,8 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 5
Free-Float 80,1%
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Managers
NameTitle
R. Daniel Brdar President. Chief Executive Officer & Director
David B. Eisenhaure Chairman
Timothy W. Burns Chief Financial Officer, Secretary & Treasurer
Michael Conard Turmelle Independent Director
Ted Lesster Independent Director
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