Business Context and Reporting Period
This Form 8-K reports the results of the Annual Meeting of Shareholders for Flanigan's Enterprises, Inc., held on February 22, 2019. The filing details the voting outcomes for director elections and executive compensation proposals.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Of the 1,858,647 shares of Common Stock outstanding, 1,358,586 shares were represented at the meeting, constituting a 73.09% quorum.
Proposal 1: Election of Directors
All nominees were elected to serve until the 2022 Annual Meeting. The voting results were as follows:
| Director | For | Withhold | Abstentions | Broker Non-Votes |
|---|---|---|---|---|
| Jeffrey D. Kastner | 1,217,548 | 141,038 | -- | -- |
| Michael B. Flanigan | 1,244,049 | 114,537 | -- | -- |
| Mary E. Bennett | 1,358,076 | 510 | -- | -- |
The terms of office for JJmes G. Flanigan, August Bucci, Patrick J. Flanigan, Christopher O'Neil, Christopher J. Nelms, and John P. Foster continued after the meeting.
Proposal 2: Executive Compensation (Say-on-Pay)
Shareholders approved the compensation of certain executive officers on an advisory basis.
- For: 1,280,278
- Against: 77,085
- Abstentions: 1,223
Proposal 3: Frequency of Say-on-Pay Vote
Shareholders approved holding an advisory vote on executive compensation every three years, consistent with the Board's recommendation.
- 1 Year Frequency: 229,152
- 2 Years Frequency: 987
- 3 Years Frequency: 1,105,197
- Abstentions: 1,650
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the continued tenure of incumbent directors whose terms were not up for election (e.g., JJmes G. Flanigan, August Bucci).
- Confirm the implementation of the three-year cycle for future executive compensation advisory votes.
- Review the significant "Withhold" votes for directors Jeffrey D. Kastner and Michael B. Flanigan relative to the total votes cast.
- Note that this filing contains no financial performance data; refer to the most recent 10-K or 10-Q for financial metrics.