Twin Disc Reports Results of Annual Shareholder Meeting

Twin Disc, Incorporated (NASDAQ: TWIN) disclosed the outcomes of its Annual Meeting of Shareholders that took place on October 31, 2024. The event saw various proposals presented to shareholders, and the subsequent voting results were shared to the public.

In Proposal No. 1 concerning the Election of Directors, both Ms. Janet P. Giesselman and Mr. David W. Johnson were elected by the shareholders. They are set to serve until the 2027 Annual Meeting of Shareholders or until their successors are properly elected and qualified. The breakdown of votes revealed that Janet P. Giesselman received 97.89% of votes in favor, while David W. Johnson secured 86.36% support.

Proposal No. 2 involved an Advisory Vote on the Compensation of the Company’s Named Executive Officers. Shareholders approved the compensation of the Named Executive Officers in the advisory vote, indicating a positive sentiment towards the company’s executive pay practices.

In Proposal No. 3, shareholders voted to approve the Twin Disc, Incorporated Amended and Restated Omnibus Incentive Plan. The voting results indicated a favorable outcome for the proposal.

Moreover, Proposal No. 4 centered around the Appointment of RSM US LLP as Independent Registered Public Accounting Firm. The shareholders ratified the appointment of RSM US LLP for the fiscal year ending June 30, 2025, with a strong majority in favor of the decision.

Additionally, as per Item 8.01 of the report, non-employee Directors who remained on the Board after the Shareholder Meeting were granted Restricted Stock under the Omnibus Plan. This allotment, comprising 6,747 shares per Director, is approximately 55% of their annual Board retainer.

The company also included a cautionary note regarding forward-looking statements in the report. It emphasized the importance of considering risks and uncertainties that could impact future results and performance.

Lastly, as stated in Item 9.01, the report included the Form of Twin Disc, Incorporated Non-Employee Director Restricted Stock Agreement as part of the exhibits.

This detailed disclosure provides an overview of the key decisions made and the outcomes of the annual shareholder meeting, shedding light on important governance matters within Twin Disc, Incorporated.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Twin Disc’s 8K filing here.

Twin Disc Company Profile

Twin Disc, Incorporated engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally. The company operates in two segments, Manufacturing and Distribution. Its principal products include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems.