American Superconductor Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits
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Metal Fabrications
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 5, 2025, American Superconductor Corporation (the “Company”) announced its financial results for the third quarter ended December 31, 2024 of the Company's fiscal year 2024. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On January 30, 2025, the Board of Directors (the “Board”) of the Company approved and adopted the Company’s Amended and Restated By-Laws (the “Amended and Restated By-Laws”), which became effective the same day. Among other things, the amendments contained in the Amended and Restated By-Laws:
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Address the universal proxy rules adopted by the U.S. Securities and Exchange Commission, by providing that no person may solicit proxies in support of a director nominee other than the Board’s nominees unless such person has, or is part of a group that has, complied with Rule 14a-19 under the Exchange Act, including applicable notice and solicitation requirements.
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Update disclosure requirements in connection with stockholder nominations of directors and submissions of proposals regarding other business at stockholder meetings (other than proposals to be included in the Company’s proxy materials pursuant to Rule 14a-8 under the Exchange Act), including, without limitation, disclosure of derivative security interests and material interests, agreements and relationships between a proposing stockholder (and other participants in a solicitation) and the Company, certain material pending or threatened legal proceedings involving the Company and the proposing stockholder (and other participants in a solicitation), and providing that the Board may request a proposing stockholder or proposed director nominee to provide additional information as reasonably required by the Board.
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Provide that each candidate for election as a director must deliver to the Company (i) a completed written questionnaire with respect to such candidate’s background, qualifications, stock ownership and independence; and (ii) a written representation and agreement relating to any voting commitment as described in the Amended and Restated By-Laws.
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Prohibit the submission by a proposing stockholder of more director nominees than the number of directors up for election.
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Require that a stockholder directly or indirectly soliciting proxies from other stockholders use a proxy card color other than white.
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The Amended and Restated By-Laws also incorporate certain technical, modernizing, clarifying and conforming changes, including to reflect updates in the Delaware General Corporation Law.
The foregoing description of the Amended and Restated By-Laws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated By-Laws, a copy of which is attached hereto as Exhibit 3.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
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Exhibit
No.
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Description
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| 3.1 | Amended and Restated By-Laws of American Superconductor Corporation. |
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99.1
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| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
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.
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AMERICAN SUPERCONDUCTOR CORPORATION
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Date:
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February 5, 2025 |
By:
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/S/ JOHN W. KOSIBA, JR.
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John W. Kosiba, Jr.
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Senior Vice President and Chief Financial Officer
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