ARES CAPITAL CORP - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report, filed on June 5, 2013, covers the Annual Meeting of Stockholders held on June 4, 2013, in Los Angeles, California. The report details the voting results for three specific proposals submitted to the security holders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance report regarding shareholder voting and does not contain financial performance data.
Material Changes and Voting Results
Three matters were voted upon and approved by the 268,043,157 shares of common stock entitled to vote:
- Election of Directors: Three directors were elected to serve three-year terms.
- Frank E. O'Bryan: 137,687,366 votes FOR; 5,234,678 votes WITHHELD; 36,275,910 Broker Non-Votes.
- Antony P. Ressler: 125,072,507 votes FOR; 17,849,537 votes WITHHELD; 36,275,910 Broker Non-Votes.
- Eric B. Siegel: 137,758,371 votes FOR; 5,163,673 votes WITHHELD; 36,275,910 Broker Non-Votes.
- Ratification of Auditors: KPMG LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2013.
- Results: 172,020,595 votes FOR; 5,901,173 votes AGAINST; 1,276,186 votes ABSTAIN.
- Authorization to Issue Shares Below NAV: Shareholders authorized the Company to issue common stock below its then-current net asset value per share, subject to board approval and a limit of 25% of outstanding common stock.
- Results: 122,825,690 votes FOR; 18,106,381 votes AGAINST; 1,989,973 votes ABSTAIN; 36,275,910 Broker Non-Votes.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The document is limited to the reporting of voting outcomes.
Key Facts for Investor Verification
- Verify the total number of shares outstanding on the record date (April 11, 2013) was 268,043,157.
- Confirm the significant number of Broker Non-Votes (36,275,910) on the director elections and the share issuance proposal.
- Note the approval of the proposal allowing share issuance below Net Asset Value (NAV), which impacts potential dilution.
- Confirm the ratification of KPMG LLP as the independent auditor for the 2013 fiscal year.