Business Context and Reporting Period
This Form 8-K filing by Alexander's, Inc. reports on the results of the 2016 Annual Meeting of Stockholders held on May 19, 2016. The record date for voting was March 21, 2016, with 5,106,196 shares of common stock outstanding. Approximately 98% of eligible shares (5,003,397) were present or represented by proxy.
Key Financial Metrics
This filing is a current report regarding corporate governance and does not contain financial performance data. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes and Voting Results
Three matters were presented to stockholders. The results were as follows:
- Proposal 1: Election of Directors. Three nominees were elected to three-year terms:
- Steven Roth: 4,181,032 For; 678,876 Withheld.
- Thomas R. DiBenedetto: 4,785,131 For; 74,777 Withheld.
- Wendy A. Silverstein: 4,165,158 For; 694,750 Withheld.
Existing directors David Mandelbaum, Arthur I. Sonnenblick, Neil Underberg, Dr. Richard R. West, and Russell B. Wight, Jr. continue to serve.
- Proposal 2: Approval of 2016 Omnibus Stock Plan. The plan was approved with 4,334,561 votes For, 523,789 Against, and 1,558 Abstentions.
- Proposal 3: Ratification of Auditors. Deloitte & Touche LLP was ratified as the independent registered public accounting firm for fiscal year 2016 with 4,999,606 votes For, 2,106 Against, and 1,685 Abstentions.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It is strictly a disclosure of voting outcomes.
Key Facts for Investor Verification
- Verify the specific terms and share limits of the newly approved 2016 Omnibus Stock Plan.
- Confirm the composition of the Board of Directors following the election of the three new nominees.
- Note the significant number of "Withheld" votes for nominees Steven Roth and Wendy A. Silverstein compared to Thomas R. DiBenedetto.