Business Context and Reporting Period
This Form 8-K is a current report filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on July 14, 2023, regarding events occurring on July 11, 2023. The filing details the results of the Company's Annual Meeting of Stockholders.
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, 2,551,340 shares were represented, constituting approximately 47.53% of the 5,367,674 outstanding shares. There were no broker non-votes. The results for the three proposals were as follows:
- Proposal 1 (Board Declassification): Not Approved. The proposal to amend the Certificate of Incorporation to declassify the Board of Directors failed.
- Votes For: 2,426,765
- Votes Against: 11,804
- Abstentions: 112,771
- Proposal 2 (Election of Directors): Approved.
- Martin Colombatto: Elected as a Class I director (2-year term). Votes For: 2,538,669; Against: 12,322; Abstentions: 349.
- David Jenkins: Elected as a Class II director (3-year term). Votes For: 2,539,148; Against: 11,841; Abstentions: 351.
- Proposal 3 (2023 Equity Incentive Plan): Approved.
- Votes For: 2,382,822
- Votes Against: 165,641
- Abstentions: 2,875
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on financial performance, or specific risk factors beyond the standard disclosure of voting results.
Investor Verification Checklist
- Verify the Company name is Ra Medical Systems, Inc. (RMED), not Catheter Precision, Inc.
- Confirm the Board of Directors remains classified due to the rejection of Proposal 1.
- Review the definitive proxy statement (Schedule 14A) filed on May 25, 2023, for details on the approved 2023 Equity Incentive Plan.
- Note the high number of abstentions on Proposal 1 (112,771) relative to votes against (11,804).