LIGHTBRIDGE Corp 8-K, filed May 19, 2023
LIGHTBRIDGE Corp (LTBR)
About this 8-K
LIGHTBRIDGE Corp filed this 8-K on May 19, 2023, reporting on events of May 18, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 5.07: Shareholder vote results
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter) |
|
| |||
(State or other jurisdiction |
| (Commission |
| (IRS Employer |
of incorporation) |
| File Number) |
| Identification No.) |
(Address of principal executive offices, including zip code)
(
(Registrant’s Telephone Number, Including Area Code)
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:
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class: |
| Trading Symbol(s): |
| Name of Each Exchange on Which Registered: |
|
| The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As described in Item 5.07 below, Lightbridge Corporation (the “Company”) held its 2023 Annual Meeting of Stockholders (the “Annual Meeting”) on May 18, 2023. At the Annual Meeting, the Company’s stockholders approved an amendment to the Lightbridge Corporation 2020 Omnibus Incentive Plan (the “2020 Plan”). The amendment to the 2020 Plan became effective upon stockholder approval and increased the number of shares that may be issued thereunder from 1,100,000 shares to 1,800,000 shares, as described under Proposal 2 of the Company’s definitive proxy statement filed on Schedule 14A with the Securities and Exchange Commission on April 3, 2023 (the “2023 Proxy Statement”), which description is incorporated herein by reference.
The foregoing description of the amended 2020 Plan is qualified in its entirety by reference to the text of the amended 2020 Plan, which is set forth in Appendix A to the Company’s 2023 Proxy Statement.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The Company held its Annual Meeting virtually on May 18, 2023. At the Annual Meeting, the Company’s stockholders voted on: (i) the election of seven director nominees, (ii) the approval of an amendment to the 2020 Plan to increase the number of shares of common stock available for issuance thereunder from 1,100,000 to 1,800,000, (iii) the approval, on an advisory basis, of the compensation of the Company’s named executive officers, (iv) the approval, on an advisory basis, of the frequency of future advisory votes on the compensation of the Company’s named executive officers, and (v) ratification of BDO USA, LLP as the Company’s independent registered public accounting firm for fiscal year 2023. The results of the votes are set forth below.
Proposal No. 1 – Election of Directors
The following nominees were elected as directors by the votes indicated to serve until the Company’s next annual meeting of stockholders, as set forth in the 2023 Proxy Statement:
Nominee |
| For |
| Withheld |
| Broker Non-Vote |
Seth Grae |
| 2,370,367 |
| 173,128 |
| 2,838,801 |
Thomas Graham, Jr. |
| 2,224,193 |
| 319,302 |
| 2,838,801 |
Sweta Chakraborty |
| 2,407,231 |
| 136,264 |
| 2,838,801 |
Jesse Funches |
| 2,490,414 |
| 53,081 |
| 2,838,801 |
Sherri Goodman |
| 2,480,765 |
| 62,730 |
| 2,838,801 |
Daniel Magraw |
| 2,239,326 |
| 304,169 |
| 2,838,801 |
Mark Tobin |
| 2,495,046 |
| 48,449 |
| 2,838,801 |
Proposal No. 2 – Approval of an Amendment to the 2020 Plan
The stockholders approved an amendment to the 2020 Plan to increase the number of shares of common stock available for issuance thereunder from 1,100,000 to 1,800,000. The voting results were as follows:
For |
| Against |
| Abstain |
| Broker Non-Vote |
|
2,039,801 |
| 425,922 |
| 77,772 |
| 2,838,801 |
|
| 2 |
Proposal No. 3 – Advisory Vote on Executive Compensation
The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers as described in the 2023 Proxy Statement was approved by the stockholders by the following vote:
For |
| Against |
| Abstain |
| Broker Non-Vote |
|
1,944,379 |
| 510,572 |
| 88,544 |
| 2,838,801 |
|
Proposal No. 4 – Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation
The Company’s stockholders approved, on an advisory basis, future advisory votes on the compensation of the Company’s named executive officers every one year by the following vote:
One Year |
| Two Years |
| Three Years |
| Abstain |
| Broker Non-Vote |
|
2,391,391 |
| 23,415 |
| 101,269 |
| 27,420 |
| 2,838,801 |
|
Proposal No. 5 – Ratification of Auditors
The proposal to ratify the selection of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 was approved by the stockholders by the following vote:
For |
| Against |
| Abstain |
5,248,137 |
| 121,759 |
| 12,400 |
| 3 |
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.
| LIGHTBRIDGE CORPORATION |
| |
|
|
|
|
Dated: May 19, 2023 | By: | /s/ Seth Grae |
|
| Name: | Seth Grae |
|
| Title: | President and Chief Executive Officer |
|
| 4 |