It was bound to happen. Some of this you cannot make up.
Span-America proposed a non-binding frequency proposal of every two years. The initial 8-K indicated an annual preference (630,375 votes) instead of a biennial preference (607,743).
But wait. An 8-K/A has been filed recasting vote results. Annual votes of 638,715 versus biennial votes of 717,096.
An obscure, small cap issuer for sure. Can it happen again for a larger cap stock? What do you think?
Check dodd-frank.com frequently for updates on the Dodd-Frank Act and other important securities law matters.
Leave a Reply