Veritone, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K covers the results of the annual meeting of stockholders held on July 24, 2020. Veritone, Inc. is a Delaware corporation with its principal executive offices in Costa Mesa, California. The company is registered on The NASDAQ Stock Market LLC under the symbol "VERI" and is classified as an emerging growth company.
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 matters and voting results rather than financial performance.
Material Changes and Voting Results
Of the 27,098,995 shares entitled to vote, 20,853,859 shares (approximately 76.95%) were present in person or by proxy. Three proposals were presented and approved:
- Proposal 1 (Election of Directors): G. Louis Graziadio III, Chad Steelberg, and Ryan Steelberg were elected to the Board for a three-year term expiring in 2023. All three nominees received a plurality of votes cast.
- Proposal 2 (Ratification of Auditors): The appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020, was approved by a majority of votes cast.
- Proposal 3 (Stock Incentive Plan Amendments): Amendments to the 2018 Performance-Based Stock Incentive Plan were approved. This required two separate majority votes: one including all shares and one excluding shares owned by Chad Steelberg, Ryan Steelberg, and their affiliates. The proposal received approximately 83.12% approval on the first vote and 76.36% approval on the second vote.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the specific terms of the amendments to the 2018 Performance-Based Stock Incentive Plan approved in Proposal 3.
- Confirm the tenure and specific roles of the newly elected board members (Graziadio, C. Steelberg, R. Steelberg) through 2023.
- Review the full proxy statement for details on the "Broker Non-Votes" which totaled 7,662,294 shares for the director election.
- Check subsequent filings for the company's financial performance, as this 8-K contains no financial data.