Karat Packaging Inc. Form 8-K Summary
Business Context and Reporting Period
Karat Packaging Inc. filed a Form 8-K dated June 14, 2023, reporting matters voted on at its 2023 Annual Meeting of Stockholders held that day. The company is a Delaware corporation headquartered in Chino, California, and its common stock trades on Nasdaq under the symbol KRT.
Annual Meeting Results
| Proposal | Result |
|---|---|
| Election of five directors | All five nominees were elected to serve until the next annual meeting or until their successors are elected and qualified. |
| Ratification of PricewaterhouseCoopers LLP | Appointment as independent registered public accounting firm for the fiscal year ending December 31, 2023 was ratified. |
| Advisory approval of executive compensation | The company’s executive compensation was approved on an advisory basis. |
Vote Details
- Alan Yu: 18,280,060 votes for, 129,337 against, 302 abstentions, and 473,158 broker non-votes.
- Joanne Wang: 17,641,424 votes for, 767,918 against, 357 abstentions, and 473,158 broker non-votes.
- Paul Y. Chen: 17,552,254 votes for, 701,440 against, 1,005 abstentions, and 473,158 broker non-votes.
- Eric Chen: 17,707,455 votes for, 701,240 against, 1,004 abstentions, and 473,158 broker non-votes.
- Eve Yen: 17,707,589 votes for, 701,105 against, 1,005 abstentions, and 473,158 broker non-votes.
- Auditor ratification: 18,866,920 for, 15,867 against, and 70 abstentions; broker non-votes were not applicable.
- Say on Pay: 18,382,519 for, 23,027 against, 4,153 abstentions, and 473,158 broker non-votes.
Financial Metrics, Outlook, and Risks
This filing does not provide revenue, profit, cash flow, margin, debt, liquidity, operating guidance, or other financial performance metrics. It also does not disclose new management outlook, contingencies, unusual items, or material operating risks.
Most Important Facts to Verify
- Confirm that all five director nominees continued on the board following the annual meeting.
- Confirm PricewaterhouseCoopers LLP’s appointment as auditor for fiscal 2023.
- Note that the Say on Pay vote was advisory rather than binding.
- Review subsequent filings for any changes in board composition, executive compensation, auditor status, or governance matters.