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EX-99.1 - EX-99.1 - AMERICAN VANGUARD CORPd939097dex991.htm

 

 

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): June 3, 2020

 

 

AMERICAN VANGUARD CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-13795   95-2588080

(State or other jurisdiction

of incorporation)

 

Commission

File Number

 

(I.R.S. Employer

Identification No.)

4695 MacArthur Court

Newport Beach, California 92660

(Address of principal executive offices)

Registrant’s telephone number: (949) 260-1200

 

 

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:

 

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

 

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

 

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

 

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

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol

 

Exchanges on which registered

Common Stock, $.10 par value   AVD   New York Stock Exchange

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 12b02 of the Securities Exchange Act of 1934 (§240.12b02 of this chapter).

Emerging Growth Company  ☐

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.  ☐

 

 

 


Item 5.07

Submission of Matters to a Vote of Security Holders

At the 2020 Annual Meeting of Stockholders of American Vanguard Corporation held on June 3, 2020, four matters were voted upon by stockholders, namely: (i) the election of nine directors until their successors are elected and qualified, (ii) the ratification of BDO USA, LLP as independent registered public accounting firm for the year ending December 31, 2020, (iii) an advisory vote approving the overall executive compensation policies and procedures of the Company as set forth in the 2020 proxy, and (iv) advisory vote on the frequency of the say-on-pay disclosure in the Company’s proxy being either every one-year, two-years or three-years.

With respect to the first proposal in the proxy, the following nine nominees received more votes “FOR” than votes “AGAINST”, and, as a result, were elected to serve as directors for the ensuing year:

 

Nominee

  

Votes For

  

Votes Against

  

Votes Abstain

Scott D. Baskin

   23,910,947    252,488    5,872

Lawrence S. Clark

   23,226,386    937,014    5,907

Debra F. Edwards

   24,055,671    107,328    6,308

Morton D. Erlich

   23,527,874    635,561    5,872

Emer Gunter

   23,994,966    46,095    128,246

Alfred F. Ingulli

   23,958,661    82,414    128,232

John L. Killmer

   24,011,022    30,073    128,212

Eric G. Wintemute

   23,924,114    118,298    126,895

Esmail Zirakparvar

   22,819,873    1,221,188    128,246

With respect to all director nominees, broker non-votes equaled 2,070,457.

With respect to Proposals Two (appointment of BDO) and Three (advisory approval of executive compensation), both measures received the affirmative vote of a majority of the shares cast at the meeting; more specifically, the shares were voted as follows:

 

Proposal

  

Votes For

  

Votes Against

  

Votes Abstain

  

Broker Non-Vote

Two

   25,295,742    941,268    2,754    0

Three

   23,844,480    259,565    65,262    2,070,457

With respect to Proposal Four (advisory vote on frequency of say-on-pay vote), the measure received votes as indicated below:

 

Proposal

  

One Year

  

Two Year

  

Three Year

  

Abstain

Four

   21,766,377    7,487    2,383,719    11,724

 

Item 8.01

Other Events

On June 8, 2020, American Vanguard Corporation issued a press release announcing the results of the voting at its 2020 Annual Meeting of Stockholders and announcing that its board of directors has suspended the Company’s quarterly cash dividend. The complete text of that release is linked hereto as Exhibit 99.1 and is incorporated herein by reference.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, American Vanguard Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    AMERICAN VANGUARD CORPORATION
Date: June 9, 2020     By:  

/s/ Timothy J. Donnelly

      Timothy J. Donnelly
      Chief Administrative Officer, General Counsel & Secretary