Business Context and Reporting Period
This Form 8-K reports on the 2020 Annual Meeting of Stockholders held by QuinStreet, Inc. on October 29, 2020. The company is incorporated in Delaware and its common stock trades on the Nasdaq Global Select Market under the symbol QNST.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and voting results.
Material Changes and Voting Results
As of the record date (September 1, 2020), 52,666,943 shares were outstanding. 44,941,392 shares (85.33%) were present or represented by proxy. Three proposals were voted upon:
- Proposal One (Director Election): Stockholders elected two Class II nominees to the Board of Directors for three-year terms.
- Matthew Glickman: 40,448,052 votes For; 490,478 votes Withheld; 4,002,862 Broker Non-Votes.
- Robin Josephs: 38,303,011 votes For; 2,635,519 votes Withheld; 4,002,862 Broker Non-Votes.
- Proposal Two (Auditor Ratification): Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2021.
- Results: 44,320,842 votes For; 601,406 votes Against; 19,144 Abstentions.
- Proposal Three (Executive Compensation): Stockholders approved, on a non-binding advisory basis, the compensation of named executive officers.
- Results: 40,542,887 votes For; 367,128 votes Against; 28,515 Abstentions; 4,002,862 Broker Non-Votes.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the specific terms of the three-year directorships for Matthew Glickman and Robin Josephs.
- Confirm the engagement letter details with PricewaterhouseCoopers LLP for the fiscal year ending June 30, 2021.
- Review the 2020 Proxy Statement for the full disclosure of named executive officer compensation referenced in Proposal Three.
- Note the significant number of broker non-votes (4,002,862) on director elections and executive compensation.