Filing Overview
Local Bounti Corporation filed a Form 8-K dated June 21, 2022, reporting the results of its 2022 annual meeting of stockholders. The filing was signed on June 23, 2022. Local Bounti is an emerging growth company whose common stock and warrants trade on the New York Stock Exchange under LOCL and LOCL WS, respectively.
Annual Meeting Results
- Director elections: Stockholders elected Pamela Brewster and Matthew Nordby as Class I directors for three-year terms, subject to earlier resignation or removal.
- Pamela Brewster: 63,208,315 votes for; 10,000 withheld; 2,712,075 broker non-votes.
- Matthew Nordby: 62,593,248 votes for; 625,067 withheld; 2,712,075 broker non-votes.
- Independent auditor: Stockholders ratified the appointment of WithumSmith+Brown, PC as the independent registered public accounting firm for the year ending December 31, 2022, with 65,923,735 votes for, 3,647 against, and 3,008 abstentions.
Financial and Operating Information
The filing is limited to voting results and does not provide revenue, profit, cash flow, margins, debt, liquidity, operating guidance, or other financial metrics.
Material Changes, Outlook, and Risks
The principal reported change is the election of two Class I directors and stockholder ratification of the independent auditor. The filing does not provide management commentary, updated guidance, contingencies, unusual items, or new risk disclosures.
Investor Verification Points
- Verify the continued board service and three-year terms of Pamela Brewster and Matthew Nordby.
- Confirm the appointment of WithumSmith+Brown, PC for the year ending December 31, 2022.
- Review subsequent filings for any changes to the board, auditor relationship, financial condition, or outlook.
- Note that 94,060,074 shares were outstanding and entitled to vote at the meeting; broker non-votes applied to the director elections but were not applicable to the auditor ratification.