Business Context and Reporting Period
This Form 8-K filing by Gyrodyne, LLC reports on the results of its 2018 Annual Meeting of Shareholders held on June 29, 2018. The company is incorporated in New York and is classified as an emerging growth company.
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 1,482,680 shares eligible to vote, 1,380,390 shares (93.10%) were present or represented by proxy. The results for the three proposals were as follows:
- Proposal 1 (Election of Directors): Both nominees, Ronald J. Macklin and Elliot H. Levine, were elected. Each received approximately 626,000 to 628,000 votes "For," with roughly 194,000 to 196,000 votes "Withheld."
- Proposal 2 (Executive Compensation): The non-binding advisory vote on executive compensation was approved with 619,686 votes "For" versus 199,652 votes "Against."
- Proposal 3 (Auditor Ratification): The engagement of Baker Tilly Virchow Krause, LLP was ratified with 1,282,178 votes "For" versus 97,479 votes "Against."
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. The document serves solely to disclose the outcome of shareholder votes.
Investor Verification Checklist
- Verify the definitive proxy statement filed on May 25, 2018, for detailed background on the director nominees and executive compensation.
- Confirm the total number of outstanding shares and the specific breakdown of broker non-votes (558,734) to understand voting power distribution.
- Review subsequent filings for the company's financial performance, as this 8-K contains no financial data.