Apple REIT Nine, Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Apple REIT Nine, Inc. on May 16, 2013, to report the results of its Annual Meeting of Shareholders held on the same date. The filing addresses corporate governance matters including director elections, executive compensation, and auditor ratification.
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 shareholder voting outcomes and contains no financial performance data.
Material Changes
No material financial changes or operational updates are reported in this filing. The document serves solely to disclose the results of shareholder votes.
Shareholder Voting Results
Shareholders voted on three primary matters:
- Director Elections: Shareholders elected nominees Michael S. Waters and Robert M. Wily. Both received over 40 million votes in favor, with approximately 2.4 million votes withheld each. Significant broker non-votes (approx. 140 million) were recorded for both nominees.
- Executive Compensation: The advisory resolution to approve allocated compensation for named executive officers was approved. Votes were 34,074,605 For, 6,625,642 Against, and 1,946,625 Abstain.
- Auditor Ratification: Shareholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2013. The proposal received 180,415,211 votes For, 1,457,830 Against, and 850,624 Abstain.
Key Facts for Investor Verification
- Verify the total number of shares outstanding to contextualize the high volume of broker non-votes (140,076,793) on director elections.
- Confirm the specific executive compensation details referenced in the advisory resolution by reviewing the company's proxy statement.
- Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.