Audiovox 2004 Annual Report Download - page 25

Download and view the complete annual report

Please find page 25 of the 2004 Audiovox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

Item 4−Submission of Matters to a Vote of Security Holders
The Annual Meeting of Stockholders of the Company was held on November 1,
2004 at the Smithtown Sheraton in Smithtown, New York. Proxies for the meeting
were solicited pursuant to Regulation 14 of the Act on behalf of the Board of
Directors and five matters were voted on at the Annual Meeting, as follows:
o The election of Class A nominee's, Paul C. Kreuch, Jr., Dennis F.
McManus, Irving Halevy and Peter A. Lesser, and the election of Class
A and Class B nominee's John J. Shalam, Philip Christopher , Charles
M. Stoehr , Patrick M. Lavelle, Ann M. Boutcher and Richard A. Maddia,
as Directors of the Company until the next annual meeting.
The votes were cast for this matter as follows:
FOR AGAINST/ABSTAIN
−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−−−−−−−−
Class A
Paul C. Kreuch, Jr. 16,167,827 2,011,350
Dennis F. McManus 16,350,039 1,829,138
Irving Halevy 16,345,639 1,833,538
Peter A. Lesser 16,343,128 1,836,049
Class A and B
John J. Shalam 34,333,993 6,454,724
Philip Christopher 34,333,265 6,455,452
Charles M. Stoehr 34,336,658 6,450,059
Patrick M. Lavelle 34,517,937 6,270,980
Ann M. Boutcher 34,517,747 6,270,970
Richard A. Maddia 34,517,737 6,270,780
Each nominee was elected a Director of the Company.
o To approve the sale of substantially all of the assets (excluding
certain receivables) relating to our Cellular business to UTSI under
the terms of the asset purchase agreement.
The votes were cast for this matter as follows:
FOR AGAINST/ABSTAIN NOT VOTED
−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−
34,644,573 514,524 5,629,620
The sale of substantially all of the assets (excluding receivables)
relating to our Cellular business to UTSI was approved.
o To ratify the appointment of Grant Thornton LLP as our independent
registered public accounting firm for the fiscal year ending November
30, 2004.
The votes were cast for this matter as follows:
FOR AGAINST/ABSTAIN NOT VOTED
−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−
40,634,693 154,024 −
22