SEC Form 8-K filed by The Duckhorn Portfolio Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.07 | Submission of Matters to a Vote of Security Holders. |
On December 23, 2024, The Duckhorn Portfolio, Inc. (“Duckhorn” or the “Company”), held a virtual special meeting of stockholders (the “Special Meeting”) to consider and vote on the proposals set forth in the definitive proxy statement of the Company prepared in connection with the Merger Agreement (as defined below) filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 2, 2024.
As of the close of business on November 28, 2024, the record date for the stockholders entitled to vote at the Special Meeting, there were a total of 147,200,572 shares of Common Stock of the Company, par value $0.01 per share (“Company Common Stock”) outstanding, each of which was entitled to one vote for each proposal at the Special Meeting. At the Special Meeting, a total of 132,994,804 shares of Company Common Stock, representing approximately 90.35% of the total shares of Company Common Stock issued and outstanding and entitled to vote, were present or represented by proxy, constituting a quorum to conduct business.
Proposal 1: Proposal to adopt the Agreement and Plan of Merger, dated October 6, 2024 (the “Merger Agreement”), by and among Duckhorn, Marlee Buyer, Inc. (“Parent”), and Marlee Merger Sub, Inc., a wholly owned subsidiary of Parent (“Merger Sub”). Upon the terms and subject to the conditions of the Merger Agreement, Merger Sub will merge with and into Duckhorn, with Duckhorn continuing as the surviving corporation and a wholly owned subsidiary of Parent.
Set forth below are the voting results for the proposal to approve the adoption of the Merger Agreement, which was adopted by the Company’s stockholders:
| Votes Cast For |
Votes Cast Against |
Abstentions | ||
| 130,985,738 | 40,797 | 1,968,269 |
Proposal 2: Proposal to approve, on a non-binding, advisory basis, the compensation that may be paid or become payable to Duckhorn’s named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contemplated by the Merger Agreement (the “Compensation Proposal”).
Set forth below are the voting results for the Compensation Proposal, which was approved by the Company’s stockholders on a non-binding, advisory basis:
| Votes Cast For |
Votes Cast Against |
Abstentions | ||
| 130,451,334 | 580,320 | 1,963,150 |
Proposal 3: Proposal to adjourn the Special Meeting to a later date or dates, if necessary or appropriate, including to solicit additional proxies to approve the proposal to adopt the Merger Agreement if there are insufficient votes to adopt the Merger Agreement at the time of the Special Meeting. (the “Adjournment Proposal”).
Set forth below are the voting results for the Adjournment Proposal, which was approved by the Company’s stockholders:
| Votes Cast For |
Votes Cast Against |
Abstentions | ||
| 129,855,014 | 1,145,198 | 1,994,592 |
Adjournment of the Special Meeting was deemed not necessary because there were sufficient votes at the time of the Special Meeting to approve the adoption of the Merger Agreement. No other business properly came before the Special Meeting.
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.
| THE DUCKHORN PORTFOLIO, INC. | ||||||
| Date: December 23, 2024 | By: | /s/ Sean Sullivan | ||||
| Sean Sullivan | ||||||
| Executive Vice President, Chief Strategy and Legal Officer | ||||||