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Item 5.07. | Submission of Matters to a Vote of Security Holders |
On April 12, 2024, Pineapple Energy Inc. (the “Company”) held a Special Meeting of Shareholders (the “Special Meeting”). At the Special Meeting, the Company’s shareholders voted on the three proposals described below. The proposals presented at the Special Meeting are described in detail in the Company’s definitive proxy statement for the Special Meeting filed with the Securities and Exchange Commission on March 6, 2024.
Of the 57,091,405 shares of common stock, par value $0.05 per share (the “Common Stock”) outstanding and entitled to vote at the Special Meeting, 34,118,873 or 59.76%, of the outstanding shares, were present either in person or by proxy.
The results for each of the proposals submitted to a vote of shareholders at the Special Meeting are as follows:
Proposal 1: Reverse Stock Split Proposal
The Company's shareholders did not approve an amendment to the Company’s Amended and Restated Articles of Incorporation to effect a reverse stock split of the issued and outstanding shares of the Company’s Common Stock at a ratio within a range of 1-for-25 to 1-for-200 by voting as follows:
For | Against | Abstain | ||||
27,625,617 | 6,441,977 | 51,279 |
Proposal 2: Authorized Share Amendment Proposal
The Company’s shareholders did not approve an amendment to the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of the Company’s Common Stock from 112,500,000 to 2,000,000 by voting as follows:
For | Against | Abstain | Broker Non-Votes | |||||
21,070,030 | 5,934,760 | 35,700 | 7,078,383 |
Proposal 3: Adjournment Proposal
The Company’s shareholders approved the proposal to permit the Company to adjourn or postpone the Special Meeting for the purpose of soliciting additional proxies if there are insufficient votes to approve any of the proposals at the time of the Special Meeting by voting as follows:
For | Against | Abstain | ||||
25,763,773 | 8,231,308 | 123,792 |
SIGNATUREs
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
PINEAPPLE ENERGY INC. | ||
By: | /s/ Kyle J. Udseth | |
Kyle J. Udseth, Chief Executive Officer | ||
Date: April 15, 2024 |