Form 8-K ABAXIS INC For: Oct 28

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November 3, 2015 9:01 AM EST
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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):
October 28, 2015

Abaxis, Inc.
(Exact name of registrant as specified in its charter)

California
  
000-19720
  
77-0213001
(State or other jurisdiction of incorporation)
  
(Commission File No.)
  
(I.R.S. Employer Identification No.)

3240 Whipple Road, Union City, CA 94587
(Address of principal executive offices)

Registrant’s telephone number, including area code:
(510) 675-6500

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:

☐ 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))

ITEM 5.07. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

The Annual Meeting was held on October 28, 2015. There were 22,716,899 shares of common stock entitled to be voted, and 21,809,073 shares were present in person or by proxy at the Annual Meeting. Three items of business were acted upon by shareholders at the Annual Meeting. The voting results are as follows:

1.            Election of Directors. Shareholders elected Clinton H. Severson, Vernon E. Altman, Richard J. Bastiani, Ph.D., Michael D. Casey, Henk J. Evenhuis and Prithipal Singh, Ph.D., the Company’s nominees for director, to serve as directors until the 2016 Annual Meeting and until his successor is elected and qualified, or, if sooner, until the director’s death, resignation or removal, as follows:

Nominees
Votes For
Votes Withheld
Broker Non-Votes
Clinton H. Severson
18,519,406
1,219,397
2,070,270
Vernon E. Altman
19,537,009
201,794
2,070,270
Richard J. Bastiani, Ph.D.
19,481,129
257,674
2,070,270
Michael D. Casey
19,434,591
304,212
2,070,270
Henk J. Evenhuis
19,505,276
233,527
2,070,270
Prithipal Singh, Ph.D.
18,944,137
794,666
2,070,270

2.            Advisory Vote on Executive Compensation. Shareholders adopted the resolution “RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and narrative discussion is hereby APPROVED”, as follows:

Votes For
Votes Against
Abstentions
Broker Non-Votes
17,001,515
2,724,464
12,824
2,070,270

3.            Ratification of Auditor Appointment. Shareholders ratified the appointment of Burr Pilger Mayer, Inc. as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2016, as follows:

Votes For
Votes Against
Abstentions
Broker Non-Votes
21,570,977
230,453
7,643
0

ITEM 8.01. OTHER EVENTS.

On October 28, 2015, the Board of Directors of Abaxis, Inc. declared a cash dividend of $0.11 per common share to be paid on December 17, 2015, to all shareholders of record as of the close of business on December 3, 2015. A copy of the Company’s press release announcing the dividend is attached hereto as Exhibit 99.1.

1
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit No. Description

99.1 Press release dated November 3, 2015

2
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.

Date: November 3, 2015

 
ABAXIS, INC.
     
 
By:
/s/ Ross Taylor
   
Ross Taylor
   
Vice President of Finance and
   
Chief Financial Officer

3
EXHIBIT INDEX

Exhibit No. Description

99.1 Press release dated November 3, 2015

Exhibit 99.1


Contact:
Abaxis, Inc.
Lytham Partners, LLC
 
Clint Severson
Joe Dorame, Robert Blum and Joe Diaz
 
Chief Executive Officer
602-889-9700
 
510-675-6500
  

Abaxis Declares Quarterly Cash Dividend

Union City, California – November 3, 2015 – The Board of Directors of Abaxis, Inc. (NasdaqGS: ABAX), has declared a cash dividend of $0.11 per common share. The dividend will be payable on December 17, 2015 to all shareholders of record at the close of business on December 3, 2015.

Abaxis’ previous quarterly dividend of $0.11 per common share was paid on September 17, 2015. Future dividends will be subject to approval by our Board of Directors.

About Abaxis

Abaxis, Inc. is a worldwide developer, manufacturer and marketer of portable blood analysis systems that are used in a broad range of medical specialties in human or veterinary patient care to provide clinicians with rapid blood constituent measurements. Our mission is to improve the efficiency of care delivery to and the quality of life of patients in the medical and veterinary markets. We provide leading edge technology and tools that support best medical practices, enabling physicians and veterinarians to respond to the health needs of their clients at the point of care while operating economical and profitable practices. For more information, visit http://www.abaxis.com.
 

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