Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Shareholders for Digital Ally, Inc. held on May 24, 2010. The filing details the election of directors and the ratification of the independent registered public accounting firm. Note: The request metadata references "KUSTOM ENTERTAINMENT, INC.", but the filing text explicitly identifies the registrant as "DIGITAL ALLY, INC."
Key Financial Metrics
This filing is a current report regarding corporate governance events and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
No material financial changes are reported in this document. The primary events are the successful election of the Board of Directors and the ratification of the external auditor.
Corporate Governance and Voting Results
Shareholder Voting Statistics
- Shares Outstanding: 16,321,998
- Shares Voted: 10,010,047
Proposal One: Election of Directors
Shareholders elected five incumbent directors. All candidates received majority support.
| Director | Votes For | Votes Withheld |
|---|---|---|
| Stanton E. Ross | 9,603,336 | 519,161 |
| Leroy C. Richie | 9,609,114 | 513,383 |
| Daniel F. Hutchins | 9,831,341 | 291,156 |
| Elliot M. Kaplan | 9,026,966 | 1,095,531 |
| Bernard A. Bianchino | 9,629,021 | 493,476 |
Proposal Two: Ratification of Auditor
Shareholders ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the year ended December 31, 2010.
- Votes For: 9,883,598
- Votes Against: 59,882
- Abstain: 13,475
- Broker Non-Votes: 165,542
Board Committee Appointments
- Audit Committee: Daniel F. Hutchins (Chairman), Leroy C. Richie, Bernard A. Bianchino.
- Compensation Committee: Bernard A. Bianchino (Chairman), Leroy C. Richie.
- Nominating and Governance Committee: Leroy C. Richie (Chairman), Daniel F. Hutchins, Elliot M. Kaplan.
- Strategic Planning Committee: Bernard A. Bianchino (Chairman), Daniel F. Hutchins, Elliot M. Kaplan.
Investor Verification Checklist
- Verify the correct registrant name is Digital Ally, Inc., not Kustom Entertainment, Inc.
- Confirm the tenure of the newly elected directors extends until the next annual meeting.
- Review the upcoming 10-K filing for the fiscal year ended December 31, 2010, to assess financial performance, as this 8-K contains no financial data.
- Note the high level of shareholder participation (approx. 61% of outstanding shares voted).