Ideal Power Inc.

06/04/2026 | Press release | Distributed by Public on 06/04/2026 14:04

Proxy Results, Management Change/Compensation (Form 8-K)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 3, 2026, Ideal Power Inc. (the "Company") held its 2026 Annual Meeting of Stockholders (the "Annual Meeting") as a virtual meeting online via live audio webcast at which the Company's stockholders approved the Amended & Restated Ideal Power Inc. 2013 Equity Incentive Plan (the "2013 Plan"). The 2013 Plan was amended primarily to (1) increase the number of authorized shares under the 2013 Plan by 800,000 shares, (2) modify terms relating to repricing, repurchase or cancellation of options without stockholder approval, and (3) extend the term of the 2013 Plan to June 3, 2036. The 2013 Plan became effective immediately upon stockholder approval at the Annual Meeting.
A summary of the material terms of the 2013 Plan are set forth in the Company's definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on April 27, 2026 (the "Proxy Statement"). The summaries of the 2013 Plan set forth above and in the Proxy Statement are qualified in their entirety by reference to the full text of the 2013 Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
As noted above, the Company held its Annual Meeting on June 3, 2026, at which there were 7,010,910 shares of common stock represented to vote either in person or by proxy, or 57.68% of the outstanding shares entitled to vote, which represented a quorum. The Company's stockholders voted on, and approved, the following proposals at the Annual Meeting:
Proposal 1 - Election of five directors to serve until the 2027 annual meeting of stockholders and until their respective successors are elected and qualified.
Nominee:
For
Withheld
Broker Non-Votes
David Somo
4,273,623
16,964
2,720,323
Drue Freeman
4,139,174
151,413
2,720,323
Gregory Knight
4,251,652
38,935
2,720,323
Ted Lesster
4,239,049
51,538
2,720,323
Michael C. Turmelle
4,239,230
51,357
2,720,323
Proposal 2 - Ratification of the appointment of BPM LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026.
For
Against
Abstain
6,988,321
14,395
8,194
Proposal 3 - Approval, on a non-binding, advisory basis, of the compensation of the Company's named executive officers.
For
Against
Abstain
Broker Non-Votes
3,588,466
625,041
77,080
2,720,323
Proposal 4 - Approval of the Amended and Restated Ideal Power Inc. 2013 Equity Incentive Plan.
For
Against
Abstain
Broker Non-Votes
3,624,425
601,975
64,187
2,720,323
Ideal Power Inc. published this content on June 04, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 04, 2026 at 20:04 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]