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Item 5.07. Submission of Matters to a Vote of Security
Holders.
On
November 5, 2019, Crexendo, Inc. (the “Company”) held
its Annual Meeting of Shareholders (the “Annual
Meeting”). The record date for shareholders entitled to
notice of, and to vote at, the Annual Meeting was September 20,2019. At the close of business on that date, the Company had
14,711,474 shares of common stock issued and outstanding and
entitled to be voted at the Annual Meeting. At the Annual Meeting,
five proposals were submitted to the Company’s stockholders.
The first four proposals are described in more detail in the
Company’s definitive proxy statement filed with the U.S.
Securities and Exchange Commission. The fifth proposal was made at
the meeting. The final voting results were as follows:
Proposal 1 - Election of Directors
The
Company’s stockholders elected the following Class II
directors to serve for a term expiring at the 2023 Annual Meeting.
The voting results are set forth below.
Votes
For
Votes
Against
Votes
Abstained
Mr.
Bash
11,462,205.61
14,380
0
Dr.
Puri
11,466,635.61
9,950
0
Proposal 2 - Advisory Approval of the Compensation of the
Company’s Named Executive Officers
The
Company’s shareholders approved the advisory resolution
approving executive compensation. The voting results are set forth
below.
Votes For
Votes Against
Votes Abstained
11,479,987.61
15,688
28,410
Proposal 3 – Advisory Approval of the Frequency of Advisory
Approval of the Compensation of the Company’s Named Executive
Officers
The
Company’s shareholders approved a resolution that the
advisory vote on “say on pay” should be held every
three years. The voting results are set forth below.
One
year
Two
years
Three
Years
Votes
Abstained
5,271,204
1,422
6,223,023.61
28,436
Proposal 4 - Ratification of
Appointment of Independent Registered Public Accounting
Firm
The
Company’s shareholders ratified the selection of Urish Popeck
& Co., LLC as the Company’s independent registered public
accounting firm for the year ending December 31, 2019. The voting
results are set forth below.
Votes
For
Votes
Against
Votes
Abstained
11,487,510.61
8,157
28,418
Proposal 5 – Approval of Board Resolution to Increase
Authorized Shares
The
Company’s shareholders approved a resolution passed by the
Company’s board of directors to amend the Company’s
Articles of Incorporation to increase the number of authorized
shares of the Company to 45,000,000 shares of par value .001 per
share, of which 40,000,000 shares shall be designated as common
shares and 5,000,000 shares designated as preferred
shares.
Votes
For
Votes
Against
Votes
Abstained
10,327,508.00
0
0
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
