Business Context and Reporting Period
This Form 8-K Current Report was filed by cbdMD, Inc. on April 23, 2020, regarding the results of its 2020 Annual Meeting of Shareholders held on the same date. The company is incorporated in North Carolina and trades on the NYSE American under the symbols YCBD and YCBD PR A.
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 voting results.
Material Changes and Voting Results
Of the 51,335,648 shares of common stock outstanding, 23,402,746 shares (45%) were represented at the meeting, constituting a quorum. All proposals were approved.
Proposal 1: Election of Directors
The following directors were elected to hold office until the 2021 annual meeting:
| Director Name | For | Against | Abstain |
|---|---|---|---|
| Martin A. Sumichrast | 22,771,505 | 246,187 | 0 |
| R. Scott Coffman | 22,746,276 | 0 | 216,114 |
| Bakari Sellers | 21,299,834 | 0 | 1,717,858 |
| Peter J. Ghiloni | 21,990,723 | 0 | 1,026,969 |
| Scott G. Stephen | 22,722,516 | 0 | 295,176 |
| William F. Raines, III | 22,746,533 | 0 | 271,159 |
Proposal 2: Ratification of Auditors
Shareholders ratified the appointment of Cherry Bekaert LLP as the independent registered public accounting firm.
- For: 23,243,621
- Against: 51,692
- Abstain: 107,433
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, management commentary on future outlook, specific risks, contingencies, or unusual items. The document serves solely to report the outcome of the shareholder vote.
Investor Verification Checklist
- Verify the definitive proxy statement (Schedule 14A) filed on March 11, 2020, for detailed background on the director nominees and auditor ratification.
- Confirm the total number of shares outstanding (51,335,648) and the quorum threshold met (45%).
- Review the specific terms of office for the newly elected directors, noting the text states they serve until the 2021 annual meeting.
- Check subsequent filings for financial performance data, as this 8-K contains no financial metrics.