MDB Capital Holdings, LLC, a finance services firm with a market capitalization of $61.69 million, announced the outcomes of its Annual Meeting held on December 10, 2024. According to InvestingPro data, the company's stock has experienced significant volatility, declining 46.25% year-to-date. Shareholders elected eight directors to serve until the next annual meeting in 2025.
Additionally, they cast advisory votes on executive compensation for the fiscal year 2025 and determined the frequency of future advisory votes on executive pay.
The Dallas-based company, incorporated in Delaware and listed on the Nasdaq Capital Market under the symbol MDBH, reported that 92.45% of the entitled votes were present at the meeting. While the company maintains strong liquidity with a current ratio of 13.42, InvestingPro analysis indicates challenges with cash burn and profitability. The shareholders elected directors with a majority of votes in favor and minimal withholdings. The advisory resolution on executive compensation for the upcoming fiscal year was approved, with 25,595,078 votes for, 101,568 against, and 26,585 abstaining.
Moreover, shareholders advised on the frequency of future votes on executive compensation, with a strong preference for every three years, receiving 25,209,730 votes, compared to 346,073 for annual and 19,124 for biennial votes.
The appointment of RBSM LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified with an overwhelming majority of 27,078,560 votes for, 901 against, and 6,956 abstentions.
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