Item 5.07 Submission of Matters to a Vote of Security Holders.
On January 13, 2023, the Annual Meeting of Stockholders (the "Annual Meeting")
of Solitron Devices, Inc. (the "Company") was held. At the Annual Meeting, the
Company's stockholders voted on (i) the election of one director as a Class III
director to serve for a term until the 2025 Annual Meeting of Stockholders
(Proposal 1); (ii) ratification of the appointment of MaloneBailey LLP as the
Company's independent certified public accountants for the fiscal year ending
February 28, 2023 (Proposal 2); (iii) approval of a non-binding advisory vote on
the compensation of the named executive officer of the Company ("Say on Pay")
(Proposal 3) and (iv) the approval to transact such other and further business
as may properly come before the meeting or any adjournments or postponements of
the meeting (Proposal 4). The proposals are described in more detail in the
Company's definitive proxy statement filed with the Securities and Exchange
Commission on December 2, 2022.
Set forth below are the voting results on each matter submitted to the
stockholders at the Annual Meeting.
Proposal 1. The Company's stockholders voted to elect Mr. Charles M. Gillman as
the Company's director. The Class III director will serve for a term until the
2025 Annual Meeting of Stockholders:
Votes For Votes Withheld Abstentions Broker Non-Votes
980,446 110,943 19,101 471,284
Proposal 2. The Company's stockholders voted to ratify the appointment of
MaloneBailey LLP as the Company's independent registered public accountants for
the fiscal year ending February 28, 2023.
Votes For Votes Against Abstentions
1,561,503 17,852 2,419
Proposal 3. The Company's stockholders voted to approve a non-binding advisory
vote on the compensation of the named executive officer of the Company ("Say on
Pay").
Votes For Votes Against Abstentions Broker Non-Votes
1,080,601 29,672 217 471,284
As there were sufficient votes to approve proposals 1, 2 and 3, proposal 4 was
moot.
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