8-Kfiled December 18, 2023, 6:59 PM ETticker IDTCIK 0001005731
other materialconfidence highsentiment neutralmateriality 0.75
Howard Jonas gains 70.8% voting power after trust shares transfer; IDT becomes a controlled company
IDT CORP
On Dec 14, 2023, trusts for children of Howard Jonas transferred 1.57M Class A shares (100% of Class A, 66.7% voting power) to a limited partnership managed by Jonas.
Following transfer, Jonas holds ~70.8% of total voting power, making IDT a controlled company under NYSE rules.
At Dec 13 meeting, all five director nominees elected, each receiving >88% of votes cast.
Shareholders approved 2015 plan amendment (+250K shares, 99.22% for) and 2024 Equity Incentive Plan (88.91% for).
Extracted from this filing and checked against the source text.
Shareholder VotesSEC 8-K Item 5.07confidence 0.9
IDT CORP shareholders approved Approval of amendment to 2015 Stock Option and Incentive Plan to increase shares by 250,000 at the 2023-12-13 meeting.
Proposal
equity plan
Outcome
passed
Meeting
2023-12-13
Exact text from the filing
A majority of the votes present or represented at the Meeting by the holders of shares entitled to vote on the following matter were voted in connection with the approval of an amendment to the Company’s 2015 Stock Option and Incentive Plan that will, among other things, increase the number of shares of the Company’s Class B common stock available for the grant of awards thereunder by 250,000. The number of votes cast with respect to this matter was as follows: Votes For Votes Against Abstentions Broker Non-Vote % Votes For 6,294,390 46,713 2,715 0 99.22
IDT CORP shareholders approved Approval of IDT Corporation 2024 Equity Incentive Plan at the 2023-12-13 meeting.
Proposal
equity plan
Outcome
passed
Meeting
2023-12-13
Exact text from the filing
A majority of the votes present or represented at the Meeting by the holders of shares entitled to vote on the following matter were voted in connection with the approval of the IDT Corporation 2024 Equity Incentive Plan. The number of votes cast with respect to this matter was as follows: Votes For Votes Against Abstentions Broker Non-Vote % Votes For 5,640,599 703,219 0 0 88.91
IDT CORP shareholders approved Election of Directors at the 2023-12-13 meeting.
Proposal
director election
Outcome
passed
Meeting
2023-12-13
Exact text from the filing
The nominees for election to the Board of Directors were elected, each for a one-year term, based upon the following votes: Nominee Votes For Votes Against Abstentions Broker Non-Vote % Votes For Michael Chenkin 5,857,121 483,813 2,884 0 92.33 Eric F. Cosentino 5,632,621 408,419 2,778 0 88.79 Howard S. Jonas 5,879,078 462,294 2,446 0 92.67 Judah Schorr 5,825,500 515,535 2,784 0 91.83 Elaine S. Yatzkan 5,895,749 445,507 2,562 0 92.94
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