8-K
filed April 27, 2023, 7:59 PM ET
ticker IPW
CIK 0001830072
other material
confidence high
sentiment neutral
materiality 0.30
iPower stockholders approve reverse stock split up to 1-for-4; directors reelected
iPower Inc.
- All five nominees (Chenlong Tan, Kevin Vassily, Bennet Tchaikovsky, Kevin Liles, Hanxi Li) elected with over 17.9M votes each.
- Ratified UHY LLP as independent auditor for FY2023 with 21.7M votes for.
- Advisory approval of executive compensation received 17.9M votes for.
- Approved reverse stock split at ratio between 1:2 and 1:4, board may implement for Nasdaq compliance.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
iPower Inc. shareholders approved Ratification of UHY LLP as independent auditor for fiscal year ending June 30, 2023 at the 2023-04-26 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-04-26
Exact text from the filing
2. Ratification of the Company’s Independent Auditors. Stockholders ratified the appointment of UHY LLP as the Company’s independent auditor for the fiscal year ending June 30, 2023, in accordance with the voting results below.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
iPower Inc. shareholders approved Election of five nominees to the board of directors for a one-year term at the 2023-04-26 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-04-26
Exact text from the filing
1. Election of Directors. Each of the following five nominees were elected to the Company’s board of directors, in accordance with the voting results listed below, to serve for a term of one year, until the next annual meeting and until their successor has been duly elected and qualified.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
iPower Inc. shareholders approved Approval of amendment to articles of incorporation to effect a reverse stock split at a ratio between 1-for-2 and 1-for-4, at board discretion at the 2023-04-26 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-04-26
Exact text from the filing
4. Approval of the amendment to the Company’s Sixth Amended and Restated Articles of Incorporation to effect, at the discretion of its board of directors, a reverse stock split of the Company’s common stock at a stock split ratio between 1-for-2 and 1-for-4, with the ultimate ratio to be determined by the board of directors in its sole discretion, the implementation and timing of which shall be subject to the discretion of the board of directors (the “Reverse Stock Split”). Stockholders approved the Reverse Stock Split, which may be implemented at the discretion of the Company’s board of directors as deemed necessary to maintain compliance with the listing requirements of the Nasdaq Stock Market, LLC.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
iPower Inc. shareholders approved Advisory approval of executive compensation at the 2023-04-26 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-04-26
Exact text from the filing
3. Approval of the Company’s Executive Compensation. Stockholders approved (on an advisory basis) the Company’s executive compensation.
View on SEC.gov
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