AMCON Distributing Company - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Stockholders held by AMCON Distributing Company on December 20, 2012. The filing details the outcomes of shareholder votes regarding board elections and the appointment of the independent auditor.
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 matters.
Material Changes
No material financial changes were reported in this filing. The primary events were the election of two Class I directors and the ratification of the independent registered public accounting firm.
Management Commentary and Governance Outcomes
- Election of Directors: Jeremy W. Hobbs and Stanley Mayer were elected as Class I directors for a term expiring after the 2015 fiscal year.
- Director Vote Results:
- Jeremy W. Hobbs: 346,849 votes in favor, 8,278 withheld.
- Stanley Mayer: 346,949 votes in favor, 8,178 withheld.
- There were 163,874 broker non-votes.
- Board Composition: Continuing directors include Christopher H. Atayan and Raymond F. Bentele (Class II), and Kathleen M. Evans, John R. Loyack, and Timothy R. Pestotnik (Class III).
- Auditor Ratification: Stockholders ratified the selection of McGladrey LLP as the independent registered public accounting firm for the 2013 fiscal year.
- Auditor Vote Results: 503,674 votes in favor, 13,700 against, and 1,627 abstaining. There were no broker non-votes.
Key Facts for Investor Verification
- Verify the full proxy statement dated November 16, 2012, for detailed biographical information on the elected directors.
- Confirm the total number of shares outstanding to calculate the percentage of votes cast versus total equity.
- Review the 2013 fiscal year audit engagement letter with McGladrey LLP for scope and fee details.