Mama's Creations shareholders approve board and auditor

Mama's Creations, Inc. (NASDAQ:MAMA) announced the results of its Annual Meeting of Shareholders, which took place on Tuesday, July 3, 2024. Shareholders voted on several key proposals, including the election of directors, the appointment of an independent auditor, and executive compensation matters.

In the election for the Board of Directors, all eight nominees were elected to serve for the following year. Votes for the directors ranged from 14,049,323 to 22,087,682, with corresponding withheld votes and broker non-votes. The directors elected include Alfred D’Agostino, Lynn Blake, Steve Burns, Meghan Henson, Dean Janeway, Adam L Michaels, Shirley Romig, and Thomas Toto.

Additionally, shareholders ratified the Audit Committee's appointment of Rosenberg Rich Baker Berman and Company as the independent registered public accounting firm for the fiscal year ending January 31, 2025. The decision was nearly unanimous, with 29,401,116 votes in favor.

The advisory, non-binding vote on executive compensation also passed, with 19,045,718 votes for, 3,153,761 against, and 46,449 abstentions. Furthermore, in an advisory vote on the frequency of future votes on executive compensation, shareholders expressed a preference for annual votes, with 21,632,484 supporting the yearly interval.

Following the advisory vote results, Mama's Creations confirmed that it would continue to hold say-on-pay votes annually. This decision aligns with the predominant shareholder preference as expressed in the voting outcomes.

The company, known for its sausage and other prepared meat products, conducted the meeting in accordance with SEC regulations and has filed the results in a Form 8-K with the SEC. The information contained in this article is based on the company's press release statement.

In other recent news, Mama's Creations reported a significant 29% revenue growth in the first quarter, surpassing expectations. This robust growth has been attributed to strategic initiatives, including operational improvements and market expansion. Despite the impact of commodity price inflation, the company continues to invest in automation and efficiency to sustain this growth momentum.

Analysts from Craig-Hallum, Lake Street Capital Markets, and Roth/MKM have all raised their price targets for Mama's Creations shares, maintaining a Buy rating, following the impressive performance. The company's CEO, Adam L. Michaels, anticipates gross margin improvements in the latter half of the year, driven by pricing and the completion of capital expenditure projects. These recent developments underscore Mama's Creations' commitment to operational excellence and its proactive approach to managing market challenges.

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