Nautilus 2007 Annual Report Download - page 18
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Table of Contents
Item 3. Legal Proceedings
For a description of the legal proceedings that affect us, refer to Note 14 to the consolidated financial statements located at Item 8 of this Form
10-K.
Item 4. Submission of Matters to a Vote of Security Holders
A special meeting of shareholders of Nautilus, Inc. was held on December 18, 2007, at which the following actions were taken:
As a result of the voting set forth above Messrs. Bramson, Eastman, Stein and Horn were elected to replace Mr. Allen, Ms. Follit, Mr. Keeble
and Ms. Neal, each of whom were removed from the Board.
15
1.
The shareholders approved a proposal to remove the following four incumbent members of Nautilus
’
board of directors (the
“
Board
”
).
The voting results for such proposals were as follows:
FOR
REMOVAL
AGAINST
REMOVAL
ABSTAIN
Peter A. Allen
16,186,038
5,180,340
62,759
Evelyn V. Follit
12,197,569
9,166,493
65,077
Donald W. Keeble
16,242,449
5,124,513
62,177
Diane L. Neal
12,173,076
9,190,066
65,996
2.
The shareholders elected to amend Section 2.4 of Article II of Nautilus
’
Amended and Restated Bylaws (the
“
Bylaws
”
),
to provide
that any vacancies on the Board resulting from the removal of directors by the shareholders of Nautilus may not be filled by the
Board and shall only be filled by the shareholders of Nautilus. The voting results were as follows:
FOR
AGAINST
ABSTAIN
14,110,726
7,268,290
50,119
3. The shareholders elected to amend Section 2.2 of Article II of the Bylaws to fix the number of directors serving on the Board at
seven; provided, however, that such number may be decreased (but not increased) by the Board. The voting results were as follows:
FOR
AGAINST
ABSTAIN
16,220,656
5,336,081
204,182
4.
The shareholders voted to fill the four vacancies resulting from the approval of Proposal 1 above. The voting results were as follows:
FOR
WITHHOLD
Peter A. Allen
5,136,939
823,804
Evelyn V. Follit
5,138,667
822,076
Donald W. Keeble
5,086,813
873,930
Diane L. Neal
5,145,452
815,291
Edward J. Bramson (to fill first vacancy)
13,205,920
2,262,475
Gerard L. Eastman (to fill the second vacancy)
13,386,782
2,081,613
Michael A. Stein (to fill third vacancy)
15,343,419
124,976
Richard A. Horn (to fill the fourth vacancy)
11,392,378
4,076,017