Jason Gray, General Counsel, Secretary, and Administrative Officer at Mitek Systems Inc. (NASDAQ:MITK), a $411 million market cap company with impressive gross profit margins of 85%, recently sold 6,222 shares of the company's common stock. This transaction, dated December 11, 2024, was executed at a price of $9.07 per share, amounting to a total value of $56,433.
The sale was carried out to cover withholding taxes upon the vesting of 17,281 restricted stock units, as per the company's automatic disposition policy. Following this transaction, Gray holds 164,342 shares directly. According to InvestingPro analysis, Mitek Systems appears undervalued, with the company set to report earnings in just 3 days.
In other recent news, Mitek Systems held its annual stockholders meeting, resulting in significant decisions for the company's leadership and operations. The meeting led to the re-election of six directors: Scott R. Carter, Rahul Gupta, James C. Hale, Susan J. Repo, Kimberly S. Stevenson, and Donna C. Wells. These individuals will serve on the board until the 2025 annual meeting.
In addition to board elections, the company's shareholders ratified the appointment of BDO USA, P.C. as Mitek's independent registered public accounting firm for the fiscal year ending September 30, 2024. The proposal received substantial support, with 37,405,252 votes in favor.
Furthermore, the shareholders cast an advisory vote on the compensation of the company's named executive officers, which received approval. These recent developments reinforce Mitek Systems' commitment to its governance and financial transparency.
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