CVV Annual Meeting Results: Directors Re-elected, CBIZ Ratified, Say-on-Pay Passed
Rhea-AI Filing Summary
The company held its Annual Meeting where shareholders voted on three proposals. All six director nominees—Lawrence J. Waldman, Emmanuel Lakios, Andrew Africk, Robert M. Brill, Ashraf Lotfi and Debra Wasser—were re-elected with votes in favor ranging from 2,526,772 to 2,549,366 and withheld votes between 208,765 and 231,359. There were 2,206,675 broker non-votes reported for those elections. Shareholders ratified CBIZ CPAs P.C. as the independent registered public accounting firm by a vote of 4,919,573 for, 36,254 against and 8,979 abstaining. A non-binding advisory resolution on executive compensation passed with 2,717,857 votes for, 22,289 against and 17,985 abstaining, with 2,206,675 broker non-votes.
Positive
- All six director nominees were re-elected with votes in favor ranging from 2,526,772 to 2,549,366.
- Independent auditor (CBIZ CPAs P.C.) was ratified by shareholders with 4,919,573 votes in favor.
- Advisory vote on executive compensation passed with 2,717,857 votes for.
Negative
- 2,206,675 broker non-votes were reported, reducing the number of shares voting on certain proposals.
- Noticeable withheld votes for director nominees (between 208,765 and 231,359) indicate some shareholder dissent.
- Say-on-pay is non-binding and does not require the board to take corrective action despite the advisory approval.
Insights
TL;DR: Routine annual meeting outcomes; incumbents re-elected and auditor ratified; advisory pay approved by majority.
The results reflect continuity in governance with all six nominees receiving majority support and the independent auditor receiving overwhelming ratification (4,919,573 votes in favor). The advisory say-on-pay passed by a clear majority (2,717,857 for), though it is non-binding. Reported broker non-votes (2,206,675) materially reduced the number of shares voting on some matters, which is relevant when assessing shareholder engagement levels. Overall, these are routine, non-material corporate governance outcomes for investors.
TL;DR: Board continuity affirmed; advisory vote passed; notable broker non-votes reduce participation on certain proposals.
All incumbent directors were re-elected with several hundred thousand withheld votes each (between 208,765 and 231,359), indicating some shareholder dissent though not enough to block election. The auditor was comfortably ratified. The advisory executive compensation vote passed but remains non-binding, so it signals shareholder sentiment without forcing action. The sizable broker non-vote tally (2,206,675) is a governance datapoint for proxy solicitation effectiveness and vote coverage.