Energy Focus stockholders approve 1-for-7 reverse stock split; effective June 16, 2023

ENERGY FOCUS, INC/DE

Stockholders approved reverse stock split at ratio of 1-for-7; board set ratio on June 15, 2023.
Effective June 16, 2023; shares reduced from ~19.2M to ~2.7M; authorized shares unchanged at 50M.
Trading on split-adjusted basis began June 20, 2023; ticker symbol EFOI remains.
Eight directors elected; ratification of GBQ Partners as auditor; advisory vote on executive compensation passed.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ENERGY FOCUS, INC/DE: Amended certificate of incorporation to effect a 1-for-7 reverse stock split (effective 2023-06-16).

Change: charter amendment
Effective: 2023-06-16

Exact text from the filing

The Certificate of Amendment was filed with the Secretary of State of the State of Delaware on June 15, 2023, and the Reverse Stock Split became effective at 5:00 pm Eastern time on June 16, 2023

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ENERGY FOCUS, INC/DE shareholders approved Approval of a discretionary amendment to the Company’s certificate of incorporation, as amended, to effect a reverse stock split of the Company’s common stock at a ratio of at least 1-for-2 and up to 1-for-10, with the exact ratio within the foregoing range to be determined by the Company’s board of at the 2023-06-15 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-06-15

Exact text from the filing

Proposal 2: Approval of a discretionary amendment to the Company’s certificate of incorporation, as amended, to effect a reverse stock split of the Company’s common stock at a ratio of at least 1-for-2 and up to 1-for-10, with the exact ratio within the foregoing range to be determined by the Company’s board of directors: For Against Abstain 11,730,677 1,239,831 14,102

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ENERGY FOCUS, INC/DE shareholders approved Election of Directors at the 2023-06-15 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-06-15

Exact text from the filing

Proposal 1: Election of Directors: Director Nominees For Withheld Broker Non-Votes Wen-Jeng Chang 9,594,060 922,485 2,468,065 Jennifer Cheng 3,919,240 6,597,305 2,468,065 K.R. “Kaj” den Daas 4,255,934 6,260,611 2,468,065 Jay (Chiao Chieh) Huang 9,691,075 825,470 2,468,065 Gina (Mei Yun) Huang 9,701,856 814,689 2,468,065 Brian Lagarto 4,267,535 6,249,010 2,468,065 Jeffery Parker 4,258,999 6,257,546 2,468,065 Stephen Socolof 3,932,739 6,583,806 2,468,065

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ENERGY FOCUS, INC/DE shareholders approved Ratification of the appointment of GBQ Partners LLC as the Company’s independent registered public accounting firm for the year ending December 31, 2023 at the 2023-06-15 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-06-15

Exact text from the filing

Proposal 3: Ratification of the appointment of GBQ Partners LLC as the Company’s independent registered public accounting firm for the year ending December 31, 2023: For Against Abstain 9,906,835 3,068,055 9,720

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ENERGY FOCUS, INC/DE shareholders approved Approval, on an advisory basis, of the compensation of our named executive officers at the 2023-06-15 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2023-06-15

Exact text from the filing

Proposal 4: Approval, on an advisory basis, of the compensation of our named executive officers: For Against Abstain Broker Non-Votes 7,973,490 2,501,004 42,051 2,468,065

View on SEC.gov

40 governance changes filed in the last 30 days. Browse all governance changes →

ENERGY FOCUS, INC/DE filing history →

Source: SEC EDGAR

accession 0000924168-23-000069

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.