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iRobot | 8-K: Current report

SEC announcement ·  May 24 04:14
Summary by Futu AI
On May 23, 2024, iRobot Corporation held its annual stockholders' meeting where several key decisions were made. The stockholders approved an amendment to the 2018 Stock Option and Incentive Plan, increasing the maximum number of shares issuable by 900,000. Additionally, Gary S. Cohen, the CEO of iRobot, was appointed as a Class I director to the Board immediately following the meeting. He will not serve on any committees nor receive additional compensation for this role. Eva Manolis was elected as a Class I member of the Board for a three-year term. PricewaterhouseCoopers LLP was ratified as the independent registered public accountants for the fiscal year 2024. However, proposed amendments to eliminate supermajority voting standards, declassify the Board of Directors, and allow stockholders to call special meetings were not approved, failing to meet the required 75% affirmative vote. An amendment to limit the liability of certain officers was also not approved as it did not achieve the majority vote needed. The stockholders did approve the non-binding advisory proposal on the compensation of named executive officers.
On May 23, 2024, iRobot Corporation held its annual stockholders' meeting where several key decisions were made. The stockholders approved an amendment to the 2018 Stock Option and Incentive Plan, increasing the maximum number of shares issuable by 900,000. Additionally, Gary S. Cohen, the CEO of iRobot, was appointed as a Class I director to the Board immediately following the meeting. He will not serve on any committees nor receive additional compensation for this role. Eva Manolis was elected as a Class I member of the Board for a three-year term. PricewaterhouseCoopers LLP was ratified as the independent registered public accountants for the fiscal year 2024. However, proposed amendments to eliminate supermajority voting standards, declassify the Board of Directors, and allow stockholders to call special meetings were not approved, failing to meet the required 75% affirmative vote. An amendment to limit the liability of certain officers was also not approved as it did not achieve the majority vote needed. The stockholders did approve the non-binding advisory proposal on the compensation of named executive officers.

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