Summary
Globalstar, Inc. (GSAT) held its Annual Meeting of Stockholders on May 22, 2018, where key corporate governance matters were voted upon. The meeting saw a significant turnout, with over 1.19 billion shares represented, indicating substantial shareholder engagement. The primary focus was the election of Class C directors and the ratification of the company's independent auditor.
Key Highlights
- 1Over 1.19 billion shares were represented at the Annual Meeting of Stockholders, demonstrating strong shareholder participation.
- 2All three Class C director nominees, William A. Hasler, James Monroe III, and Kenneth M. Young, were overwhelmingly elected to serve until the 2021 Annual Meeting.
- 3The election of directors received a significant majority of 'For' votes, with votes against and abstentions representing a small fraction of the total.
- 4Crowe Horwath LLP was ratified as Globalstar's independent registered accounting firm for the fiscal year ending December 31, 2018.
- 5The ratification of the auditor received an exceptionally high 'For' vote, with minimal opposition.
- 6The substantial number of broker non-votes in the director elections suggests that many shares held in "street name" did not have their beneficial owners' voting instructions for these specific proposals.