FLANIGAN'S ENTERPRISES INC - 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report covers the results of the Annual Meeting of Shareholders held on February 26, 2016. The filing was signed on March 3, 2016, by Jeffrey D. Kastner, Chief Financial Officer, General Counsel & Secretary.
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 voting results.
Material Changes and Voting Results
Of the 1,858,647 shares of Common Stock outstanding, 1,422,157 shares were represented at the meeting, constituting a 76.52% quorum.
Proposal 1: Election of Directors
All nominees were elected to serve until the 2019 Annual Meeting. The voting results were as follows:
| Director | For | Withhold | Abstentions | Broker Non-Votes |
|---|---|---|---|---|
| Michael B. Flanigan | 1,281,195 | 115,839 | -- | -- |
| Jeffrey D. Kastner | 1,279,579 | 117,455 | -- | -- |
| M.E. Betsy Bennett | 1,395,787 | 1,247 | -- | -- |
The terms of office for James G. Flanigan, August Bucci, Patrick J. Flanigan, Barbara J. Kronk, Christopher O'Neil, and Christopher J. Nelms continued after the meeting.
Proposal 2: Executive Compensation (Say-on-Pay)
Shareholders approved the compensation of certain executive officers on an advisory (non-binding) basis.
| For | Against | Abstentions | Broker Non-Votes |
|---|---|---|---|
| 1,280,581 | 132,621 | 8,955 | -- |
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
- Verify the total number of shares outstanding (1,858,647) and the quorum percentage (76.52%) to confirm meeting validity.
- Confirm the specific terms of office for the continuing directors (James G. Flanigan, August Bucci, Patrick J. Flanigan, Barbara J. Kronk, Christopher O'Neil, and Christopher J. Nelms) as they were not up for election.
- Note that the executive compensation approval was advisory and non-binding.
- Review the "Withhold" votes for Michael B. Flanigan and Jeffrey D. Kastner, which exceeded 115,000 shares each, indicating a notable minority dissent.