SEC Filing Summary: Resource Capital Corp.
Business Context and Reporting Period
This Form 8-K Current Report was filed by Resource Capital Corp. on June 6, 2016, regarding events occurring on June 2, 2016. The filing details the results of the company's Annual Meeting of Stockholders. Note: While the request metadata mentions "ACRES Commercial Realty Corp.", the filing text explicitly identifies the registrant as "Resource Capital Corp."
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 and voting outcomes.
Material Changes and Voting Results
At the Annual Meeting held on June 2, 2016, stockholders approved two primary matters:
- Election of Directors: Stockholders re-elected 10 directors to serve until the 2017 annual meeting. The directors elected were Walter T. Beach, Edward E. Cohen, Jonathan Z. Cohen, Richard L. Fore, William B. Hart, Gary Ickowicz, Steven J. Kessler, Murray S. Levin, P. Sherrill Neff, and Stephanie H. Wiggins.
- Ratification of Auditors: Stockholders ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the year ending December 31, 2016.
Voting Statistics:
- Director Elections: All 10 director nominees received majority support. "Shares For" ranged from approximately 9.9 million (Edward E. Cohen) to 13.4 million (Stephanie H. Wiggins). "Shares Against" ranged from approximately 353,000 to 3.85 million. Significant broker non-votes (approx. 12.5 million) were recorded for all director elections.
- Auditor Ratification: The proposal received 25,752,178 shares "For," 465,457 shares "Against," and 177,513 abstentions.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on financial performance, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the identity of the registrant (Resource Capital Corp.) versus the metadata reference (ACRES Commercial Realty Corp.).
- Confirm the tenure of the newly re-elected board members through the 2017 annual meeting.
- Review the full proxy statement for detailed biographies of the directors and the rationale for the auditor appointment.
- Check subsequent filings for the company's financial performance, as this 8-K contains no financial data.