DEF: Manhattan Bridge Capital Sets Date for 2025 Annual Shareholder Meeting

Manhattan Bridge Capital, Inc. announces its 2025 Annual Meeting of Shareholders to be held on June 18, 2025, to elect directors, approve the appointment of independent auditors, and conduct advisory votes on executive compensation.

Summary

• Manhattan Bridge Capital, Inc. will hold its Annual Meeting of Shareholders on June 18, 2025, at 9:00 a.m. local time at the offices of Sullivan & Worcester LLP in New York.
• Shareholders of record as of April 25, 2025, are entitled to vote at the meeting.
• The meeting will address the election of six directors, advisory approval of the appointment of Hoberman & Lesser CPAs, LLP as independent auditors for the fiscal year ending December 31, 2025, and advisory votes on executive compensation and the frequency of future advisory votes on executive compensation.
• The Board of Directors recommends voting for the election of each director nominee, for the appointment of Hoberman & Lesser CPAs, LLP, for the approval of the compensation of named executive officers, and for holding advisory votes on executive compensation every three years.
• As of the record date, there were 11,438,651 outstanding shares of common stock, each entitled to one vote.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The positive aspects include the company's commitment to corporate governance and shareholder engagement. The sentiment is slightly positive due to the routine nature of the document and the absence of any significant negative news.

Positives

• The company is providing shareholders with the opportunity to vote on key governance matters, including the election of directors and executive compensation.
• The Board recommends a frequency of every three years for advisory votes on executive compensation, aligning with past practices and providing sufficient time to evaluate compensation effectiveness.
• The company has a Code of Ethics and an insider trading policy in place.
• The Board has determined that the majority of its members and the members of the Audit and Compensation Committees are independent.
• The Audit Committee is comprised of independent directors and has a designated financial expert.
• The company has a process for shareholders to communicate with the Board.

Risks

• The document does not explicitly mention any specific risks facing the company.
• However, the Board recognizes that companies face a variety of risks, including credit risk, liquidity risk, strategic risk, and operational risk.

Future Outlook

The Board will consider the outcome of the advisory vote on executive compensation frequency when making future decisions on executive compensation.

Management Comments

• Assaf Ran, President and Chief Executive Officer, expressed gratitude for shareholders' continued support.
• The Board believes that having Mr. Ran serve as both the Chairman and Chief Executive Officer is in the best interest of its shareholders.

Industry Context

This is a standard proxy statement for a publicly traded company, outlining the agenda and proposals for the upcoming annual meeting, as well as providing information on executive compensation and corporate governance.

Comparison to Industry Standards

• The structure and content of this proxy statement are consistent with industry standards for publicly traded companies in the United States.
• The disclosure of executive compensation, director independence, and audit committee information aligns with SEC regulations and Nasdaq listing requirements.
• The process for shareholder communication and the submission of shareholder proposals are also in line with common practices.

Stakeholder Impact

• Shareholders will have the opportunity to vote on key matters affecting the company's governance and executive compensation.
• The outcome of the votes could influence the company's future direction and executive pay practices.
• The company's commitment to corporate governance and ethical conduct benefits all stakeholders.

Next Steps

• Shareholders should review the proxy materials and vote on the proposals.
• The company will hold the Annual Meeting on June 18, 2025.
• The Board will consider the outcome of the advisory votes when making future decisions.

Key Dates

Keywords

Annual Meeting, Shareholders, Proxy Statement, Directors, Executive Compensation, Independent Auditors, Corporate Governance, Manhattan Bridge Capital