Ubiquiti Inc. (NYSE:UI), a leading manufacturer of wireless data communication and wired products, held its annual meeting of stockholders on Thursday, where several key proposals were voted upon. The results of the meeting, filed in an 8-K report with the Securities and Exchange Commission on Friday, indicated shareholder approval on all counts.
The first proposal involved the election of two Class I directors. Brandon Arrindell and Rafael Torres were both elected to serve until the third annual meeting following their election or until their successors are duly elected and qualified. Arrindell received 57,374,812 votes for, 438,858 withheld, and 1,648,476 broker non-votes. Torres garnered 56,832,449 votes for, 981,221 withheld, and 1,648,476 broker non-votes.
The second proposal was the ratification of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending June 30, 2025. This motion passed with 59,431,991 votes for, 25,338 against, and 4,817 abstentions.
Stockholders also gave their non-binding advisory approval of the compensation of the company's named executive officers, with 57,682,600 votes for, 117,322 against, and 13,748 abstentions, alongside 1,648,476 broker non-votes.
Additionally, stockholders voted on the frequency of future non-binding advisory votes on executive officer compensation. The option of holding these votes every two years received the most support with 56,570,375 votes, compared to 1,215,094 for one year, 25,262 for three years, and 2,939 abstentions, along with 1,648,476 broker non-votes.
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