Business Context and Reporting Period
This Form 8-K is a current report filed by Express-1 Expedited Solutions, Inc. (not XPO, Inc.) on June 13, 2011, regarding events occurring on June 9, 2011. The filing documents the results of the Company's Annual Meeting of Stockholders.
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 matters and does not contain financial performance data.
Material Changes
There are no material financial changes reported in this filing. The significant events are the election of three new directors and the ratification of the independent auditor.
Corporate Governance and Voting Results
Election of Directors
Stockholders elected the following three individuals to the Board of Directors:
- Daniel Para: 17,001,627 votes For; 205,906 votes Withheld.
- Jay N. Taylor: 17,002,619 votes For; 204,914 votes Withheld.
- Michael R. Welch: 17,095,840 votes For; 111,693 votes Withheld.
Broker non-votes were recorded at 12,303,857 for each director candidate.
Ratification of Independent Auditor
Stockholders ratified the appointment of Pender Newkirk & Company LLP as the independent registered certified public accounting firm for the year ended December 31, 2011.
- For: 28,699,429 shares
- Against: 6,172 shares
- Abstain: 14,089 shares
Investor Verification Checklist
- Verify the correct registrant name is Express-1 Expedited Solutions, Inc., distinct from XPO, Inc.
- Confirm the tenure and background of the newly elected directors (Para, Taylor, Welch).
- Review the subsequent 10-K filing for the fiscal year ended December 31, 2011, to assess the financial performance audited by Pender Newkirk & Company LLP.
- Note the high volume of broker non-votes (approx. 12.3 million shares) relative to the votes cast for directors.