Business Context and Reporting Period
This Form 8-K reports on the 2021 Annual Meeting of Stockholders held by Medalist Diversified REIT, Inc. on September 16, 2021. The company is incorporated in Maryland and trades on the Nasdaq Capital Market under the symbols MDRR (Common Stock) and MDRRP (Preferred Stock).
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 events and voting results rather than financial performance data.
Material Changes and Voting Results
Stockholders approved two primary proposals at the annual meeting:
- Election of Directors: Five directors were elected to serve until the 2022 Annual Meeting. All nominees received significant support, though some faced withhold votes:
| Director Name | Votes For | Votes Against | Withhold |
|---|---|---|---|
| Thomas E. Messier | 5,461,329 | 0 | 275,677 |
| William R. Elliott | 5,352,854 | 0 | 384,152 |
| Neil P. Farmer | 4,841,275 | 0 | 895,731 |
| Charles S. Pearson, Jr. | 4,875,920 | 0 | 861,086 |
| Timothy P. O'Brien | 5,385,803 | 0 | 351,203 |
- Ratification of Auditor: Stockholders ratified the appointment of Cherry Bekaert LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2021.
| Proposal | Votes For | Votes Against | Abstentions |
|---|---|---|---|
| Ratify Auditor | 8,071,843 | 230,940 | 1,179,433 |
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management commentary on outlook, specific risks, contingencies, or unusual items. The document is limited to the disclosure of voting outcomes.
Key Facts for Investor Verification
- Verify the tenure of the newly elected directors, which extends until the 2022 Annual Meeting.
- Confirm the engagement of Cherry Bekaert LLP for the 2021 fiscal year audit.
- Note the significant number of broker non-votes (3,745,210) recorded for the director elections, indicating shares held in street name where brokers lacked discretionary voting power.
- Review the withhold vote percentages for Neil P. Farmer and Charles S. Pearson, Jr., which were higher than other nominees.