UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

 


 

FORM 8-K

 


 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  September 22, 2017 (September 19, 2017)

 

INVESTORS REAL ESTATE TRUST

(Exact name of Registrant as specified in its charter)

 


 

North Dakota

 

001-35624

 

45-0311232

(State or Other Jurisdiction
of Incorporation or Organization)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

1400 31st Avenue SW, Suite 60
Post Office Box 1988
Minot, ND 58702-1988

(Address of principal executive offices) (Zip code)

 

(701) 837-4738

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed from last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o                       Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o                       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o                       Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o                       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 

 

 



 

Item 5.07                                           Submission of Matters to a Vote of Security Holders.

 

On September 19, 2017, the Company held its 2017 Annual Meeting of Shareholders (the “Annual Meeting”).  As of July 21, 2017, the record date for holders of common shares of beneficial interest (“common shares”) entitled to vote at the Annual Meeting, there were 120,586,875 common shares outstanding and entitled to vote at the Annual Meeting.  Of the common shares entitled to vote, 95,040,217, or approximately 78.81% of the common shares, were present or represented by proxy at the Annual Meeting, constituting a quorum under the Declaration of Trust.  There were four matters presented and voted on at the Annual Meeting.  Set forth below is a brief description of each matter voted on at the Annual Meeting and the final voting results with respect to each such matter.

 

Proposal 1 —Election of eight nominees to serve on the Board of Trustees for a one-year term and until their respective successors are duly elected and qualified.

 

Nominee

 

For

 

Against

 

Abstain

 

Broker Non-Votes

 

Jeffrey P. Caira

 

60,870,615

 

782,177

 

823,546

 

32,563,879

 

Michael T. Dance

 

60,888,475

 

775,423

 

812,440

 

 

 

Mark O. Decker, Jr.

 

61,025,714

 

792,459

 

658,165

 

 

 

Linda J. Hall

 

60,705,773

 

1,173,510

 

597,055

 

 

 

Terrance P. Maxwell

 

60,968,937

 

680,045

 

827,356

 

 

 

Jeffrey L. Miller

 

60,684,787

 

1,462,067

 

329,484

 

 

 

John A. Schissel

 

61,010,165

 

641,512

 

824,661

 

 

 

John D. Stewart

 

60,360,564

 

1,271,342

 

844,432

 

 

 

 

The shareholders elected all eight of the nominees as trustees.

 

Proposal 2 —Non-binding advisory vote on executive compensation.

 

 

 

For

 

Against

 

Abstain

 

Broker Non-Votes

 

 

 

 

 

 

 

 

 

 

 

               Votes Cast

 

60,339,729

 

1,701,328

 

435,281

 

 32,563,879

 

 

The shareholders approved, by a non-binding advisory vote, the compensation paid to the Company’s named executive officers.

 

Proposal 3 — Non-binding advisory vote on the frequency of future advisory votes on executive compensation.

 

 

 

1 Year

 

2 Year

 

3 Year

 

Abstain

 

 

 

 

 

 

 

 

 

 

 

               Votes Cast

 

49,881,992

 

892,397

 

11,239,299

 

462,650

 

 

The shareholders approved, by a non-binding advisory vote, conducting future advisory votes on executive compensation each year. Subsequent to the Annual Meeting, the Company’s Board of Trustees determined that future shareholder advisory votes on executive compensation will continue to be held annually.

 

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Proposal 4 —Ratification of Grant Thornton LLP as the Company’s independent registered public accounting firm for fiscal year 2018.

 

 

 

For

 

Against

 

Abstain

 

Broker Non-Votes

 

 

 

 

 

 

 

 

 

 

 

               Votes Cast

 

94,181,807

 

334,097

 

524,313

 

 

 

The shareholders ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for fiscal year 2018.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

INVESTORS REAL ESTATE TRUST

 

 

 Date: September 22, 2017

By:

/s/ Mark O. Decker, Jr.

 

 

Mark O. Decker, Jr.

 

 

Chief Executive Officer and President

 

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