Ready Capital Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K reports the results of the annual meeting of stockholders held by Ready Capital Corporation on June 23, 2022. The meeting was conducted virtually. Stockholders representing 67,691,039 shares, or 58.69% of the 115,341,977 outstanding shares, were present, establishing a quorum.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
The following proposals were voted upon by stockholders:
- Proposal 1 (Election of Directors): All nine director nominees were elected. Votes were cast as follows:
- Thomas E. Capasse: 50,076,258 For; 725,216 Withheld.
- Jack J. Ross: 48,139,711 For; 2,661,763 Withheld.
- Julius W. Erving: 50,371,223 For; 430,251 Withheld.
- Frank P. Filipps: 49,756,734 For; 1,044,740 Withheld.
- Dominique Mielle: 45,854,663 For; 4,946,811 Withheld.
- Gilbert E. Nathan: 46,155,662 For; 4,645,812 Withheld.
- Andrea Petro: 48,491,177 For; 2,310,297 Withheld.
- J. Mitchell Reese: 43,981,438 For; 6,820,036 Withheld.
- Todd M. Sinai: 45,858,799 For; 4,942,675 Withheld.
- Proposal 2 (Ratification of Auditors): Stockholders ratified the appointment of Deloitte & Touche LLP.
- Votes For: 66,400,587
- Votes Against: 1,161,335
- Abstentions: 129,117
- Proposal 3 (Executive Compensation): Stockholders approved, on an advisory basis, the compensation of named executive officers.
- Votes For: 41,452,776
- Votes Against: 6,867,068
- Abstentions: 2,481,630
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the total number of outstanding shares (115,341,977) and the quorum percentage (58.69%) to assess shareholder engagement levels.
- Review the specific vote counts for directors with higher "Withheld" votes, such as J. Mitchell Reese (6.8 million withheld) and Dominique Mielle (4.9 million withheld), to gauge shareholder sentiment.
- Confirm the advisory vote on executive compensation, noting that approximately 14% of votes cast were against the proposal.
- Check subsequent filings for financial performance data, as this 8-K contains no financial metrics.