In a recent 8-K filing with the Securities and Exchange Commission, RYVYL Inc., a management consulting services company formerly known as GreenBox POS, reported the results of its annual meeting of stockholders held on Thursday. The San Diego-based firm announced that its shareholders approved all the proposals on the agenda, including the election of directors, ratification of its public accounting firm, and amendments to its equity incentive plan.
Shareholders elected Ben Errez, Fredi Nisan, Genevieve Baer, David Montoya, and Ezra Laniado to the company's board of directors, with their terms set to expire at the 2025 annual meeting. Simon & Edward, LLP was ratified as RYVYL's independent registered public accounting firm for the fiscal year ending December 31, 2024.
Additionally, a significant proposal that received approval was the issuance of common stock exceeding 20% of the company’s outstanding shares, a requirement under Nasdaq Listing Rule 5635(d). This move may suggest potential financing or strategic activities that could impact the company's capital structure.
The company's 2023 equity incentive plan also underwent amendments, with stockholders approving an increase in the number of shares reserved for issuance from 1,098,262 to 5,098,262. This amendment also affects the number of shares that can be issued upon the exercise of Incentive Stock Options under the plan.
The meeting's quorum was achieved with a sufficient number of outstanding shares present, either in person or by proxy. The record date for stockholders entitled to vote was October 22, 2024, with 7,346,203 shares of common stock outstanding at that time.
The voting results were detailed in the filing, with the approval of the independent registered public accounting firm receiving the highest number of affirmative votes.
The information provided in this article is based on a press release statement from RYVYL Inc. and reflects the outcomes of the company's annual meeting as reported in its SEC filing.
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