Business Context and Reporting Period
This Form 8-K reports on the 2019 Annual Meeting of Stockholders held by Summit Wireless Technologies, Inc. (trading symbol: WISA) on December 19, 2019. The filing details the voting results for director elections and the ratification of the independent auditor. Note: The request metadata lists "Datavault AI Inc.", but the filing text explicitly identifies the registrant as Summit Wireless Technologies, Inc.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. This document is a current report regarding corporate governance events rather than a financial statement.
Material Changes and Voting Results
Shareholder Participation
- Record Date: November 12, 2019
- Outstanding Shares: 24,720,247 Common Stock and 250,000 Series A Preferred Stock.
- Shares Present/Voted: 15,556,218 Common Stock and 250,000 Series A Preferred Stock.
Proposal 1: Election of Directors
Eight nominees were elected. Seven received overwhelming support, while one nominee received significant opposition.
| Nominee | For | Withheld | Broker Non-Votes |
|---|---|---|---|
| Brett Moyer | 12,164,450 | 11,676 | 3,630,092 |
| Jonathan Gazdak | 12,164,499 | 11,627 | 3,630,092 |
| Dr. Jeffrey M. Gilbert | 12,161,833 | 14,293 | 3,630,092 |
| Helge Kristensen | 12,164,252 | 11,874 | 3,630,092 |
| Sam Runco | 12,161,949 | 14,177 | 3,630,092 |
| Brian Herr | 7,476,054 | 4,700,072 | 3,630,092 |
| Michael Howse | 12,113,295 | 62,831 | 3,630,092 |
| Lisa Cummins Dulchinos | 12,164,305 | 11,821 | 3,630,092 |
Proposal 2: Ratification of Auditor
The appointment of BPM LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2019, was ratified.
- For: 15,755,508
- Against: 47,192
- Abstain: 3,518
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk factors. It strictly reports the certified voting results of the Annual Meeting.
Investor Verification Checklist
- Director Election Anomaly: Verify the reasons for the significant "Withheld" votes (approx. 38% of votes cast) against nominee Brian Herr compared to the other seven directors.
- Broker Non-Votes: Note that 3,630,092 shares were recorded as broker non-votes for the director election, representing a significant portion of the outstanding shares.
- Company Identity: Confirm the correct registrant name is Summit Wireless Technologies, Inc., not Datavault AI Inc. as indicated in the request metadata.
- Auditor Change: Verify the background and qualifications of the newly ratified auditor, BPM LLP.