SEC Filing Summary: Communications Systems, Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed by Communications Systems, Inc. (not Sunation Energy, Inc.) on May 23, 2016, covering events occurring on May 19, 2016. The filing reports the results of the Company's 2016 Annual Meeting of Shareholders held in Minnetonka, Minnesota.
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 shareholder voting outcomes.
Material Changes and Voting Results
Shareholder participation was high, with 7,151,125 shares (81.6% of the 8,761,001 outstanding shares) present in person or by proxy. The following matters were approved:
- Election of Directors: All six nominees were elected to the Board of Directors. The vote counts for "For," "Withhold," and "Broker Non-Vote" were as follows:
| Nominee | For | Withhold | Broker Non-Vote |
|---|---|---|---|
| Curtis A. Sampson | 3,097,303 | 1,549,372 | 2,504,450 |
| Luella G. Goldberg | 3,206,196 | 1,440,479 | 2,504,450 |
| Roger H. D. Lacey | 3,366,305 | 1,280,370 | 2,504,450 |
| Gerald D. Pint | 3,387,653 | 1,259,022 | 2,504,450 |
| Richard A. Primuth | 2,858,068 | 1,788,607 | 2,504,450 |
| Randall D. Sampson | 3,326,680 | 1,319,995 | 2,504,450 |
- Ratification of Auditors: Shareholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2016. The vote was 6,820,728 For, 296,167 Against, and 34,230 Abstain.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, future outlook, management commentary on operations, specific risks, or contingencies. The document serves solely to disclose the outcome of the shareholder vote.
Key Facts for Investor Verification
- Verify the correct registrant name is Communications Systems, Inc., as the input metadata incorrectly referenced Sunation Energy, Inc.
- Confirm the high level of shareholder engagement (81.6% participation) relative to the company's total outstanding shares.
- Note that Richard A. Primuth received the lowest "For" vote count among the director nominees (2,858,068) and the highest "Withhold" count (1,788,607).
- Review the referenced Proxy Statement for detailed descriptions of the proposals and director biographies, as this 8-K only summarizes the results.