8-K: Reservoir Media, Inc. Holds Annual Meeting, Elects Directors and Ratifies Auditor

Reservoir Media, Inc. held its annual meeting on August 8, 2024, where shareholders elected three Class III directors and ratified the appointment of Deloitte & Touche LLP as the company's independent auditor for fiscal year 2025.

Summary

• Reservoir Media, Inc. held its Annual Meeting of Stockholders on August 8, 2024.
• There were 65,036,255 shares of common stock outstanding and entitled to vote as of the record date of June 13, 2024.
• Shareholders elected Ezra S. Field, Golnar Khosrowshahi, and Ryan P. Taylor as Class III Directors for a three-year term expiring at the 2027 Annual Meeting.
• The election of directors received between 53.2 million and 53.4 million votes in favor, with approximately 6.5 to 6.6 million votes withheld, and 1.3 million broker non-votes.
• Shareholders also ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2025.
• The ratification of the auditor received 61,206,446 votes in favor, 3,899 votes against, and 45 abstentions.

Sentiment

Score: 7

Explanation: The document reflects standard corporate governance procedures and the successful completion of the annual meeting, indicating a neutral to slightly positive sentiment.

Positives

• The election of directors and ratification of the auditor passed with strong shareholder support.
• The company successfully completed its annual meeting with all proposals approved.

Management Comments

• Golnar Khosrowshahi, Chief Executive Officer, signed the report on behalf of the company.

Industry Context

This is a standard annual meeting report for a publicly traded company, focusing on corporate governance matters such as director elections and auditor ratification, which are typical for companies in the media and entertainment industry.

Comparison to Industry Standards

• The voting results for director elections and auditor ratification are typical for publicly traded companies.
• The level of shareholder participation and the approval rates are consistent with industry norms for annual meetings.

Stakeholder Impact

• Shareholders have exercised their voting rights to elect directors and ratify the auditor.
• The successful completion of the annual meeting provides assurance to stakeholders regarding the company's governance.

Next Steps

• The newly elected Class III Directors will serve a three-year term until the 2027 Annual Meeting.
• Deloitte & Touche LLP will serve as the company's independent auditor for the fiscal year ending March 31, 2025.

Key Dates

Keywords

Annual Meeting, Directors, Auditor, Shareholders, Voting, Corporate Governance, Deloitte & Touche, Reservoir Media