UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.07. Submission of Matters to a Vote of Security Holders.
AXT, Inc. (the “Company”) held its Annual Meeting of Stockholders (“Annual Meeting”) on May 18, 2023. The matters voted upon at the Annual Meeting and the results of such voting are set forth below:
Proposal 1: Election of two (2) Class I directors to hold office for a three-year term and until their respective successors are elected and qualified:
Name of Director | For | % | Withheld | % | Broker Non-Votes |
Dr. Morris S. Young | 26,094,280 | 94.5% | 1,524,426 | 5.5% | 7,384,376 |
Dr. David C. Chang | 23,743,170 | 86.0% | 3,875,536 | 14.0% | 7,384,376 |
Dr. Morris S. Young and Dr. David C. Chang were duly elected by the stockholders as the Class I directors to hold office for a three-year term and until their respective successors are elected and qualified.
Proposal 2: Advisory vote on executive compensation:
For | Against | Abstain | Broker Non-Votes |
23,569,412 | 3,338,343 | 710,951 | 7,384,376 |
The compensation of the Company’s named executive officers, as disclosed in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 7, 2023 (the “Proxy Statement”), was approved by the stockholders on an advisory basis.
Proposal 3: Advisory vote on the frequency of holding an advisory vote on executive compensation:
Shares | % | |
One Year | 23,163,062 | 83.9% |
Two Years | 111,859 | 0.4% |
Three Years | 2,977,546 | 10.8% |
Abstain | 1,366,239 | 4.9% |
Broker Non-Votes | 7,384,376 |
The option of one year received the highest number of votes and will be treated as the frequency of holding an advisory vote on the compensation of the Company’s named executive officers that was approved by the stockholders on an advisory basis. In light of such advisory vote and consistent with the Company’s recommendation in the Proxy Statement, the Company’s Board of Directors determined that the Company will continue to hold an advisory vote to approve the compensation of the Company’s named executive officers every year.
Proposal 4: Ratification of the appointment of BPM LLP (“BPM”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023:
For | Against | Abstain |
34,716,052 | 273,524 | 13,506 |
The appointment of BPM as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 was ratified by the stockholders.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AXT, INC. | |||
By: | /s/ Gary L. Fischer | ||
Gary L. Fischer Chief Financial Officer and Corporate Secretary | |||
Date: May 22, 2023
Document and Entity Information |
May 18, 2023 |
|---|---|
| Document and Entity Information [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | May 18, 2023 |
| Entity File Number | 000-24085 |
| Entity Registrant Name | AXT, INC. |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 94-3031310 |
| Entity Address, Address Line One | 4281 Technology Drive |
| Entity Address, City or Town | Fremont |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 94538 |
| City Area Code | 510 |
| Local Phone Number | 438-4700 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, $0.001 par value |
| Trading Symbol | AXTI |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0001051627 |
| Amendment Flag | false |