iPower Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
UNITED STATES
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CURRENT REPORT
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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).
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| Item 5.07 | Submission of Matters to a Vote of Security Holders. |
On June 23, 2025, the Company held its 2025 annual meeting of stockholders (the “Annual Meeting”), at which the Company’s stockholders considered four proposals, each of which is described in more detail in the Company’s definitive proxy statement originally filed with the Securities and Exchange Commission on May 28, 2025, as supplemented on June 10 and June 18, 2025 (the “Proxy Statement”). At the Annual Meeting, as of the May 16, 2025 record date, there were a total of 31,359,899 shares eligible to vote, of which 25,990,703 shares voted in person or by proxy, representing 82.87% of the votes eligible to be cast. The final voting results for each matter are set forth in more detail below.
| 1. | Election of Directors. |
All of the following four nominees were elected to the Company’s board of directors, in accordance with the voting results listed below, to serve for a term of one year, until the next annual meeting and until their successors have been duly elected and qualified.
| Nominee | For | Against | Withheld | Broker Non-Votes | ||||
| Chenlong Tan | 21,400,784 | 0 | 44,200 | 4,545,719 | ||||
| Bennet Tchaikovsky | 20,946,608 | 0 | 498,376 | 4,545,719 | ||||
| Yue Guo | 21,400,809 | 0 | 44,175 | 4,545,719 | ||||
| Hanxi Li | 21,026,314 | 0 | 418,670 | 4,545,719 |
| 2. | Approval of the Company’s Executive Compensation. |
Stockholders approved (on an advisory basis) the Company’s executive compensation.
| For | Against | Abstain | Broker Non-Votes | |||
| 21,390,021 | 43,183 | 11,780 | 4,545,719 |
| 3. | Approval of an amendment to the Company’s Sixth Amended and Restated Articles of Incorporation to effect, at the discretion of the board of directors, a reverse stock split of the Company’s common stock at a stock split ratio between 1-for-2 and 1-for-200, with the ultimate ratio to be determined by the board of directors in its sole discretion (the “Reverse Stock Split”), which Reverse Stock Split may be implemented on or more occasions, when and as needed, to allow the Company to maintain Nasdaq compliance, with the exact ratio or ratios to be determined by the Company’s board of directors at its discretion. |
Stockholders approved the Reverse Stock Split.
| For | Against | Abstain | Broker Non-Votes | |||
| 25,613,939 | 365,096 | 11,668 | – |
| 4. | Election of Yi Yang to the Company’s board of directors. |
Yi Yang was elected to the Company’s board of directors, in accordance with the voting results listed below, to serve for a term of one year, until the next annual meeting and until her successor has been duly elected and qualified.
| For | Against | Abstain | Broker Non-Votes | |||
| 21,230,321 | 0 | 214,663 | 4,545,719 |
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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.
| IPOWER, INC. | ||
| Dated: June 24, 2025 | ||
| By: | /s/ Chenlong Tan | |
| Name: | Chenlong Tan | |
| Title: | Chief Executive Officer | |
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