Business Context and Reporting Period
This Form 8-K reports on the results of the 2015 Annual Meeting of Stockholders held by Energy Recovery, Inc. on June 19, 2015, in San Leandro, California. The report was filed on June 22, 2015.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document focuses exclusively on corporate governance voting results.
Material Changes
No material financial changes are reported in this filing. The document details the successful ratification of corporate governance matters, including the election of directors and the appointment of auditors.
Guidance, Outlook, and Voting Results
As of the April 20, 2015 record date, 52,015,357 shares were outstanding. A quorum of approximately 75.84% (39,448,634 shares) was represented. Three proposals were approved:
- Proposal 1: Election of Class I Directors. Three directors were elected to serve until the 2018 Annual Meeting:
- Ole Peter Lorentzen: 98.70% For
- Joel Gay: 97.39% For
- Olav Fjell: 98.72% For
- Proposal 2: Ratification of Auditors. Stockholders ratified the appointment of BDO USA, LLP as the independent registered public accounting firm for the year ending December 31, 2015, with 98.13% voting For.
- Proposal 3: Executive Compensation Advisory Vote. Stockholders approved a non-binding advisory resolution on executive compensation with 95.30% voting For.
Investor Verification Checklist
- Verify the specific terms of the three-year directorships for Ole Peter Lorentzen, Joel Gay, and Olav Fjell.
- Confirm the engagement letter details with BDO USA, LLP for the 2015 fiscal year.
- Review the Proxy Statement filed on April 30, 2015, for detailed descriptions of the proposals and executive compensation policies.
- Check subsequent filings for the Company's financial performance, as this 8-K contains no financial data.