Business Context and Reporting Period
This Form 8-K filing by SmartStop Self Storage REIT, Inc. reports the results of the 2020 Annual Meeting of Stockholders held on June 26, 2020. The Company is incorporated in Maryland and operates in the self-storage sector.
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 and voting outcomes.
Material Changes and Voting Results
The following proposals were voted upon by stockholders:
- Proposal 1 (Election of Directors): All five nominees were elected to the Board. Votes were cast as follows:
- H. Michael Schwartz: 28,167,110 For; 1,691,654 Withheld
- Paula Mathews: 28,185,170 For; 1,673,594 Withheld
- Timothy S. Morris: 28,137,415 For; 1,721,349 Withheld
- David J. Mueller: 28,175,536 For; 1,683,228 Withheld
- Harold "Skip" Perry: 28,161,497 For; 1,697,268 Withheld
- Proposal 2 (Say on Pay): The advisory approval of executive compensation was approved.
- Votes For: 24,851,833
- Votes Against: 1,891,350
- Votes Abstained: 3,115,581
- Proposal 3 (Say on Pay Frequency): Stockholders voted to hold advisory votes on executive compensation every two years.
- Every Year: 10,278,485
- Every Two Years: 13,165,712
- Every Three Years: 1,998,911
- Abstained: 4,415,656
- Proposal 4 (Ratification of Auditors): The appointment of BDO USA, LLP as the independent registered public accounting firm for the year ending December 31, 2020, was ratified.
- Votes For: 27,630,168
- Votes Against: 308,853
- Votes Abstained: 1,919,743
Guidance, Outlook, and Risks
The filing does not contain management commentary on financial guidance, outlook, risks, contingencies, or unusual items. The Board has determined to solicit a non-binding advisory vote on executive compensation every two years based on the voting results.
Key Facts for Investor Verification
- Confirm the tenure of the newly elected directors until the next annual meeting.
- Verify the implementation of the biennial "Say on Pay" frequency as voted by stockholders.
- Review the engagement of BDO USA, LLP for the 2020 fiscal year audit.
- Note that this filing contains no financial performance data; refer to the 10-K or 10-Q for financial metrics.