Close

Form 8-K Kandi Technologies Group For: Dec 28

December 29, 2021 4:06 PM EST

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
0001316517 false China 0001316517 2021-12-28 2021-12-28 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 28, 2021

 

KANDI TECHNOLOGIES GROUP, INC.
(Exact name of registrant as specified in its charter)

 

Delaware   001-33997   90-0363723
(State of Incorporation)   (Commission File Number)   (IRS Employer Identification)

 

Jinhua New Energy Vehicle Town

Jinhua, Zhejiang Province

People’s Republic of China

Post Code 321016

(Address of principal executive offices)

 

(86-579) 8223-9700

Registrant’s telephone number, including area code

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock   KNDI   NASDAQ Global Select Market

 

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).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 

 

 

 

 

 

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

On December 28, 2021, Kandi Technologies Group, Inc., a Delaware corporation (the “Company”) held its Annual Meeting of Shareholders for the fiscal year ended December 31, 2020 (the “Annual Meeting”). Holders of 45,882,944 shares of the Company's common stock were present in person or by proxy at the Annual Meeting, representing 59.29% of the total outstanding shares of common stock and therefore constituting a quorum of more than a majority of the shares outstanding and entitled to vote at the Annual Meeting as of the record date of November 4, 2021. The final voting result for each matter submitted to a vote of shareholders at the meeting are as follows. Except for proposal 2 below, broker Non-votes are not counted.

 

Proposal 1: Election of Directors 

 

The following seven individuals were elected as the Board of Directors of the Company to serve as directors until the next Annual Meeting of Shareholders or until their successors have been duly elected and qualified. Broker Non-votes of 20,411,758 shares are not counted.

 

   FOR   WITHHELD 
HU XIAOMING   24,413,242    1,057,944 
DONG XUEQIN   24,513,243    957,943 
WANG LIN   24,553,213    917,973 
CHEN LIMING   24,223,988    1,247,198 
LIN YI   22,604,761    2,866,425 
JERRY LEWIN   24,107,767    1,363,419 
HENRY YU   24,534,409    936,777 

 

Proposal 2: Ratification of the appointment of Benjamin & Ko as Independent Auditor

 

The shareholders ratified the appointment of Benjamin & Ko as the Company’s independent auditor for the fiscal year ending December 31, 2021. Broker Non-votes of 20,411,758 shares are counted.

 

   FOR   AGAINST   ABSTAIN 
TOTAL SHARES VOTED   45,232,759    506,163    144,022 

 

Proposal 3: Advisory Vote on Compensation of Named Executive Officers

 

The shareholders approved, on an advisory, non-binding basis, the compensation of our named executive officers. Broker Non-votes of 20,411,758 shares are not counted.

 

   FOR   AGAINST   ABSTAIN 
TOTAL SHARES VOTED   24,408,799    891,913    170,474 

 

Proposal 4: An Amendment to the Certificate of Incorporation

 

Votes of a majority of the outstanding shares of the Company’s common stock in favor of the proposal is required to approve an amendment to the Company’s Certificate of Incorporation, as amended, to increase the number of authorized shares of the Company’s common stock from one hundred million (100,000,000) shares of common stock to one billion (1,000,000,000) shares of common stock, and to correspondingly increase the number of authorized shares of preferred stock from ten million (10,000,000) shares to one hundred million (100,000,000). Broker Non-votes of 20,411,758 shares are not counted. The Company did not obtain sufficient votes to pass this proposal.

 

   FOR   AGAINST   ABSTAIN 
TOTAL SHARES VOTED   20,448,924    4,918,401    103,861 

 

Proposal 5: Approval of Future Adjustments of Exercise Prices of Warrants

 

The shareholders approved, for purposes of complying with Nasdaq Listing Rule 5635(d), any future adjustments of exercise prices of certain warrants below their floor prices in accordance with the terms of such warrants. Broker Non-votes of 20,411,758 shares are not counted.

 

   FOR   AGAINST   ABSTAIN 
TOTAL SHARES VOTED   24,410,851    918,648    141,687 

 

1

 

 

SIGNATURE

 

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.

 

  KANDI TECHNOLOGIES GROUP, INC. 
   
Date: December 28, 2021 By: /s/ Hu Xiaoming
  Name: Hu Xiaoming
  Title: Chief Executive Officer

 

 

2

 



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings