Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Shareholders held by U.S. Auto Parts Network, Inc. (Carparts.Com, Inc.) on April 27, 2010. The record date for the meeting was March 8, 2010.
Key Financial Metrics
This filing is a current report regarding corporate governance events and does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
The filing details the outcomes of two shareholder proposals:
- Election of Directors: Shareholders elected Shane Evangelist and Ellen F. Siminoff to serve three-year terms until the 2013 annual meeting.
- Ratification of Auditors: Shareholders ratified the selection of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 1, 2011.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, risks, contingencies, or unusual items. It strictly reports the voting results of the Annual Meeting.
Important Facts for Investors
- Voting Participation: Of 29,933,930 shares entitled to vote, 25,691,226 shares were present in person or by proxy.
- Director Election Results:
- Shane Evangelist: 20,508,920 For, 30,381 Withheld, 5,151,925 Broker Non-Votes.
- Ellen F. Siminoff: 20,415,247 For, 124,054 Withheld, 5,151,925 Broker Non-Votes.
- Auditor Ratification Results: 25,662,910 For, 2,700 Against, 25,616 Abstaining.
- Broker Non-Votes: A significant number of shares (5,151,925) were recorded as broker non-votes for the director election, indicating brokers did not have discretionary voting power on these matters.