annualmtg83013.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)  August 30, 2013


Air T, Inc.
 

(Exact Name of Registrant as Specified in its Charter)


                             Delaware                                                                             0-11720                                                                                52-1206400      
                   (State or Other Jurisdiction                                         (Commission File Number)                                                         (I.R.S. Employer
                         of Incorporation)                                                                                            Identification No.)

3524 Airport Road
        Maiden, North Carolina 28650         
(Address of Principal Executive Offices)
 (Zip Code)

                                   (828) 464-8741                                
 (Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former name or former address, if changed from last report)

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 (see General Instruction A.2. below):
                                Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 
                          
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

                          
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

                          
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))

 
 
 


Item 5.07                      Submission of Matters to a Vote of Security Holders

(a)  
Air T, Inc. (the “Company”) held its 2013 Annual Meeting of Stockholders on August 30, 2013 (the “Annual Meeting”).
(b)  
The Company’s stockholders voted on the following five proposals at the Annual Meeting.  The number of votes cast for and against each proposal and, with respect to the election of directors, the number of withheld votes, abstentions and broker non-votes are set forth below.


 


Proposal 1 - Election of Directors
                          
                               
The stockholders elected the following seven individuals to the Company's Board
        
of Directors for one-year terms expiring at the 2014 Annual Meeting. The voting
        
results were as follows:
                              
   
No. of
    
No. of
    
No. of
              
   
Votes
    
Votes
    
Broker
              
   
For
    
Withheld
    
Non votes
              
Seth G. Barkett
     1,783,087       39,796       505,335              
Walter Clark
     1,663,521       159,362       505,335              
John J. Gioffre
     1,663,931       158,952       505,335              
Andrew L. Osborne
     1,782,862       40,021       505,335              
John A. Reeves
     1,800,603       22,280       505,335              
Nicholas J. Swenson
     1,783,462       39,421       505,335              
William R. Foudray
     1,658,182       164,701       505,335              
                                     
                                     
Proposal 2 - Advisory Vote on Executive Compensation
                      
                                     
The stockholders approved a resolution approving, on an advisory basis, the compensation paid
  
to the Company's named executive officers as disclosed in the Company's proxy statement for the
  
Annual Meeting. The voting results were as follows:
                      
                                     
   
No. of
    
No. of
            
No. of
        
   
Votes
    
Votes
    
No. of
    
Broker
        
   
For
    
Against
    
Abstentions
    
Non votes
        
      1,494,925       242,615       85,342       505,336        
                                       
                                       
Proposal 3 - Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation
  
                                       
The stockholders voted to select, on an advisory basis, the frequency of future advisory votes on
  
executive compensation. The voting results were as follows:
                
                                   
No. of
  
   
Every
    
Every
    
Every
    
No. of
    
Broker
  
   
Year
    
2 Years
    
3 Years
    
Abstentions
    
Non votes
  
      1,744,816       12,427       27,296       41,343       502,336  
                                         
                                         
Proposal 4 - Ratification of Appointment of Independent Registered Public Accounting Firm
  
                                         
The stockholders approved a resolution ratifying the appointment of Dixon Hughes Goodman LLP
  
as the Company's independent registered public accounting firm for the 2014 fiscal year.
  
The voting results were as follows:
                                  
                                         
   
No. of
    
No. of
                          
   
Votes
    
Votes
    
No. of
                  
   
For
    
Against
    
Abstentions
                  
      2,283,799       39,478       4,941                  
                                         
                                         
Proposal 5 - Approval of Rights Agreement
                          
                                         
The stockholders failed to approve a resolution to approve the Amended and Restated Rights
  
Agreement, dated June 13, 2013, between the Company and American Stock Transfer & Trust
  
Company, LLC, as Rights Agent. The voting results were as follows:
                  
                                         
   
No. of
    
No. of
            
No. of
          
   
Votes
    
Votes
    
No. of
    
Broker
          
   
For
    
Against
    
Abstentions
    
Non votes
          
      816,599       982,068       24,215       505,336          
                                         



(d)  
The Company’s Board of Directors has determined to hold an advisory vote of the stockholders to approve the compensation paid to the Company’s named executive officers at each annual meeting (every one year) until the next required advisory vote of the stockholders to select the frequency of future advisory votes on executive compensation.



 
 
 




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date:

September 3, 2013

AIR T, INC.


By: /s/ Walter Clark                                                         
Walter Clark, President and
Chief Executive Officer