DEF: SKYX Platforms Corp. Announces Annual Meeting of Stockholders, Outlines Director Compensation and Executive Pay

SKYX Platforms Corp. will hold its Annual Meeting of Stockholders on July 9, 2025, to elect directors, ratify the appointment of its accounting firm, and conduct an advisory vote on executive compensation.

Summary

• SKYX Platforms Corp. is holding its Annual Meeting of Stockholders on July 9, 2025, to vote on several key proposals.
• Stockholders will elect seven directors: Rani R. Kohen, Nancy DiMattia, Gary N. Golden, Efrat L. Greenstein Brayer, Thomas J. Ridge, Dov Shiff, and Leonard J. Sokolow.
• The meeting will also include a vote to ratify the appointment of M&K CPAS, PLLC as the company's independent registered public accounting firm for the fiscal year ending December 31, 2025.
• An advisory, non-binding vote will be held to approve the compensation of the company's named executive officers.
• The Board of Directors recommends voting for all director nominees, ratifying the appointment of M&K, and approving the executive compensation.
• The company's proxy statement and annual report for the year ended December 31, 2024, are available online at www.proxyvote.com.
• The Board of Directors has determined that all members of the Board of Directors, except Rani R. Kohen, Dov Shiff and Leonard J. Sokolow, are independent.
• Non-employee directors receive an annual cash retainer of $30,000, paid in quarterly instalments, or, if a director elects to receive payment in shares of common stock, a single annual distribution of common stock.
• Non-employee directors also receive reimbursement of reasonable out-of-pocket expenses for attending meetings and carrying out duties as Board members.

Sentiment

Score: 7

Explanation: The document is neutral in tone, providing necessary information for shareholders regarding the upcoming annual meeting and related proposals. It is a routine communication with no significant positive or negative implications.

Positives

• The Board of Directors is actively engaged in risk oversight, including cybersecurity and human capital management.
• The company has a Code of Business Conduct and Ethics in place.
• Stockholders have the opportunity to communicate with the Board of Directors.
• The company offers health insurance to full-time employees, including named executive officers.
• The company aims to provide safe and sustainable solutions to consumers.

Risks

• The company faces risks related to cybersecurity threats and incidents.
• The company's success depends on retaining and rewarding key executives.
• The company's forward-looking statements involve risks, uncertainties, and other factors that may cause actual results to differ materially.

Future Outlook

The company's future performance is subject to various risks and uncertainties, and actual results may differ materially from forward-looking statements.

Industry Context

This announcement is a standard part of corporate governance, ensuring shareholders are informed and have the opportunity to participate in key decisions.

Related Party Transactions

• On October 4, 2024, the Company entered into a securities purchase agreements with certain accredited investors, pursuant to which such investors purchased an aggregate of 240,000 shares of Series A-1 Preferred Stock, at a purchase price of $25.00 per share.
• During 2020, certain related parties entered into securities purchase agreements with the Company, pursuant to which each agreed to purchase a three-year subordinated convertible promissory note.
• On each of February 6, 2023 and March 29, 2023, the Company closed private placements of its securities, pursuant to which the Company issued and sold subordinated secured convertible promissory notes and warrants to purchase shares of the Companys common stock to certain investors.

Stakeholder Impact

• Stockholders have the opportunity to vote on key proposals, influencing the company's direction.
• Executive compensation decisions impact employee morale and retention.
• The selection of an independent accounting firm ensures financial transparency and accountability.

Next Steps

• Stockholders should review the proxy materials and vote on the proposals.
• The company will hold the Annual Meeting of Stockholders on July 9, 2025.
• The company will announce the voting results in a Current Report on Form 8-K.

Key Dates

Keywords

Annual Meeting, Stockholders, Directors, Executive Compensation, Proxy Statement, Corporate Governance, SKYX Platforms Corp., M&K CPAS, Director Compensation, Risk Oversight, Cybersecurity