AMCON Distributing Company - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K, dated December 21, 2010, reports on the results of AMCON Distributing Company's annual meeting of stockholders held on that date. The company is incorporated in Delaware and maintains its principal executive offices in Omaha, Nebraska.
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 does not contain financial performance data.
Material Changes
No material financial changes were reported. The filing details the outcome of shareholder votes regarding board composition and the selection of the independent auditor.
Management Commentary and Governance Outcomes
Election of Directors: Stockholders elected two Class II directors, Christopher H. Atayan and Raymond F. Bentele, to terms expiring after the 2013 fiscal year. The remaining board members include Class I directors Jeremy W. Hobbs and Stanley Mayer, and Class III directors Kathleen M. Evans, John R. Loyack, and Timothy R. Pestotnik.
Auditor Ratification: Stockholders ratified the selection of McGladrey and Pullen, LLP as the independent registered public accounting firm for the 2011 fiscal year.
Key Facts for Investor Verification
- Director Election Results: Christopher H. Atayan received 371,885 votes in favor (3,869 withheld); Raymond F. Bentele received 368,253 votes in favor (7,501 withheld). There were 164,062 broker non-votes.
- Auditor Vote Results: Ratification of McGladrey and Pullen, LLP received 522,488 votes in favor, 8,536 against, and 8,792 abstentions. There were no broker non-votes.
- Board Composition: The board is staggered into three classes with terms expiring in 2011, 2012, and 2013.
- Reference Document: Additional details regarding the matters voted on are contained in the proxy statement dated November 23, 2010.