Argan, Inc. recently announced the results of the voting at its 2025 Annual Meeting of Stockholders, revealing several key metrics and changes from the previous period.
Firstly, the election of nine directors to the Board of Directors showed significant support, with all nominees receiving substantial "FOR" votes. The closest margin was for Cynthia A. Flanders with 9,242,585 votes "FOR" and 610,695 "WITHHELD." This demonstrates confidence in the leadership and governance of the company.
The non-binding advisory approval of the company's executive compensation, also known as the "say-on-pay" vote, saw 9,011,132 votes "FOR," indicating shareholder satisfaction with the executive compensation packages. However, it's worth noting the 810,416 "AGAINST" votes, showing some dissent or concern in this area compared to the previous period.
Another significant metric is the non-binding advisory vote on the frequency of the stockholder vote on the company's executive compensation, with 9,382,351 votes in favor of holding the vote every year. This represents a potential shift in shareholder sentiment compared to previous years.
Moreover, the approval of an amendment to the company's Certificate of Incorporation to limit the personal liability of certain officers and directors showed a clear majority, with 8,554,758 "FOR" votes, signaling support for this strategic decision.
Lastly, the ratification of the appointment of Grant Thornton LLP as the company's independent registered public accountants for the fiscal year ending January 31, 2026, revealed overwhelming support with 11,521,610 "FOR" votes, indicating confidence in the company's choice of auditors.
Today the company's shares have moved -2.64% to a price of $212.82. For more information, read the company's full 8-K submission here.
