01—Abstract
Summary
Summary of the 8-K filed December 6, 2024. Cited figures are marked; the original filing is the authoritative source.
At its annual meeting of stockholders held on December 5, 2024, Ubiquiti Inc. shareholders elected two Class I directors, Brandon Arrindell and Rafael Torres, to serve until the third annual meeting following their election.
Arrindell received 57,374,812 votes for and 438,858 withheld, and Torres received 56,832,449 for and 981,221 withheld, with 1,648,476 broker non-votes applying to each. Stockholders also ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025, with 59,431,991 votes for, 25,338 against, and 4,817 abstentions.
In a non-binding advisory vote, shareholders approved named executive officer compensation with 57,682,600 votes for and 117,322 against. On the frequency of future say-on-pay votes, the "Two Years" option was approved, receiving 56,570,375 votes compared with 1,215,094 for "One Year" and 25,262 for "Three Years." These results set the cadence for future advisory compensation votes.
02—Key points
Key Highlights
- Brandon Arrindell and Rafael Torres were elected as Class I directors, each serving until the third annual meeting after their election.
- Arrindell received 57,374,812 votes for and 438,858 withheld; Torres received 56,832,449 votes for and 981,221 withheld.
- KPMG LLP was ratified as independent registered public accounting firm for the fiscal year ending June 30, 2025, with 59,431,991 votes for.
- Stockholders approved named executive officer compensation in a non-binding advisory vote, with 57,682,600 votes for and 117,322 against.
- Stockholders approved holding future advisory say-on-pay votes every two years, with 56,570,375 votes for "Two Years" versus 1,215,094 for "One Year" and 25,262 for "Three Years."
- Broker non-votes totaled 1,648,476 on the director election and say-on-pay proposals.
03—Questions
Frequently Asked Questions
When and where was the annual meeting held?
Ubiquiti Inc. held its annual meeting of stockholders on December 5, 2024. The filing reports the vote results but does not specify the meeting location.
Which directors were elected and for what term?
Brandon Arrindell and Rafael Torres were elected as Class I directors. Each will serve until the third annual meeting of stockholders following their election, or until a successor is duly elected and qualified, subject to earlier death, resignation or removal.
Was the auditor appointment approved?
Yes. Stockholders ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025, with 59,431,991 votes for, 25,338 against and 4,817 abstentions.
How often will the company hold advisory say-on-pay votes?
Stockholders approved a frequency of every two years, with 56,570,375 votes for "Two Years," compared with 1,215,094 for "One Year" and 25,262 for "Three Years."
04—Continue