On June 1, 2023, Star Equity Fund, LP announced that it has withdrew its slate of nominees for election to the Board of Directors of Servotronics, Inc. at its 2023 annual meeting of stockholders, scheduled to be held on June 9, 2023. Star Equity Fund stated that accordingly, it has terminated its proxy solicitation and would not vote any further proxies received from stockholders of the Company on the Star Equity Fund's proxy card at the annual meeting. Star Equity Fund added that following the withdrawal of its director nominees and termination of its proxy solicitation, Star Equity Fund intends to vote the shares of the Company's common stock beneficially owned by Star Equity Fund and its affiliates ‘withhold' with respect to the election of incumbent board members Edward Cosgrove, Christopher Marks, and William Farrell at the annual meeting.