AMREP CORP. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the 2018 Annual Meeting of Shareholders held on September 13, 2018. The filing details the election of a director and the results of an advisory vote on executive compensation.
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.
Material Changes and Voting Results
Shareholders holding 7,025,890 shares (out of 8,127,904 outstanding) were present or represented by proxy. The following actions were taken:
- Director Election: Edward B. Cloues, II was elected to Class I of the Board of Directors to serve until the 2021 Annual Meeting.
- Advisory Compensation Vote: Shareholders voted on the compensation paid to named executive officers.
| Proposal | Votes For | Votes Against | Abstentions | Broker Non-Votes |
|---|---|---|---|---|
| Election of Edward B. Cloues, II | 5,933,186 | 1,092,704 (Withheld) | 0 | 0 |
| Advisory Vote on Executive Compensation | 4,813,692 | 2,209,419 | 2,779 | 0 |
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
- Edward B. Cloues, II received approximately 84.5% of the votes cast for his election (5,933,186 for vs. 1,092,704 withheld).
- The advisory vote on executive compensation was approved, though it received significant opposition with 2,209,419 votes against.
- Approximately 86.4% of outstanding shares were represented at the meeting.
- There were no broker non-votes recorded for either proposal.