EVI Industries, Inc. Holds Annual Meeting and Approves Amendment to Equity Incentive Plan

EVI Industries, Inc. recently conducted its Annual Meeting of Stockholders on December 12, 2024, in which crucial decisions were made regarding the company’s future. The pioneering manufacturer, dedicated to excellence in its field, garnered significant attention with the approval of key proposals.

At the meeting, EVI Industries’ shareholders endorsed the election of six director nominees by the Company’s Board of Directors. Each of these directors is appointed for a term that extends until the 2025 Annual Meeting of Stockholders. Moreover, the stockholders also gave their approval for an amendment to the company’s 2015 Equity Incentive Plan, which will now facilitate the issuance of shares for awards under the Plan.

The amendment to the Equity Incentive Plan includes provisions to increase the number of shares of the company’s Common Stock authorized for issuance from 3,000,000 shares to 3,500,000 shares. Additionally, the amendment includes a clause allowing for the automatic acceleration of vesting or exercisability of all existing awards granted under the Plan in case of a Change in Control of the Company, except for awards held by the Company’s controlling stockholder under specific circumstances.

The voting results for the proposals were as follows:

Proposal 1: Election of Directors

– Director Nominee Henry M. Nahmad received 11,150,874 votes for, with 1,218,633 votes withheld.
– Director Nominee Dennis Mack received 11,482,372 votes for, with 887,135 votes withheld.
– Director Nominee David Blyer received 10,064,077 votes for, with 2,305,430 votes withheld.
– Director Nominee Glen Kruger received 12,295,158 votes for, with 74,349 votes withheld.
– Director Nominee Timothy P. LaMacchia received 11,533,014 votes for, with 836,493 votes withheld.
– Director Nominee Hal M. Lucas received 10,818,911 votes for, with 1,550,596 votes withheld.

Proposal 2: Approval of Amendment of the Company’s 2015 Equity Incentive Plan

– The proposal received 8,865,180 votes for, 2,837,621 votes against, and 666,706 abstentions.

More details about the Plan, including the amendment, can be found in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on November 20, 2024.

This initiative is anticipated to fortify EVI Industries’ standing and bolster its operational capabilities as it moves forward in its journey towards sustained growth and innovation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EVI Industries’s 8K filing here.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.