other material
confidence high
sentiment positive
materiality 0.60
Solitron Devices anticipates $1M annual cost savings from relocation and wafer fab closure
SOLITRON DEVICES INC
- Annual cost savings of ~$1.0M expected after relocation to new West Palm Beach facility.
- Savings from eliminating $40k/month rent, reduced utilities, and not relocating the wafer fab.
- Stockholders elected all five director nominees and approved the 2019 Stock Incentive Plan.
- Advisory Say-on-Pay vote passed (86% for); annual voting frequency selected.