Mesa Air Group confirms board members and executive pay

Mesa Air Group Inc . (NASDAQ:MESA) held its Annual Meeting of Shareholders on August 14, 2024, where key decisions were made regarding the election of directors, executive compensation, and the appointment of an independent accounting firm. Shareholders voted on several proposals detailed in the company's proxy statement filed on July 2, 2024.

The election of directors resulted in the confirmation of six individuals to Mesa Air's board, each to serve a one-year term. The elected directors are Ellen N. Artist, Mitchell I. Gordon, Dana J. Lockhart, Jonathan G. Ornstein, Harvey W. Schiller, and Spyridon P Skiados. Notably, Jonathan Ireland resigned from the board effective August 1, 2024, and United Airlines, Inc. retains the right to appoint a successor due to his departure.

Additionally, the compensation of the company's named executive officers was approved on an advisory basis, with 6,190,017 votes in favor. Shareholders also supported the proposal to hold future advisory votes on executive compensation annually, with 6,393,133 votes endorsing the yearly frequency.

Furthermore, the selection of Marcum LLP as Mesa Air Group's independent registered public accounting firm for the fiscal year ending September 30, 2024, was ratified with a significant majority of 22,741,231 votes for the motion.

These decisions reflect the shareholders' support for the current board's composition and the company's executive compensation practices. The results of the Annual Meeting are based on the votes of the 41,312,204 shares of common stock entitled to vote.

This news is based on a press release statement.

In other recent news, Mesa Air Group, Inc., a regional airline operator, has been making headlines with several significant developments. The company recently regained compliance with the Nasdaq's minimum bid price requirement after maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days. This achievement comes after a previous notification from Nasdaq, indicating that Mesa's stock had fallen below the $1.00 minimum bid price.

These are among the recent developments surrounding the company.

InvestingPro Insights

In the context of Mesa Air Group Inc.'s (NASDAQ:MESA) recent Annual Meeting of Shareholders and the company's efforts to maintain compliance with Nasdaq's minimum bid price requirement, the following InvestingPro Insights offer a deeper understanding of the company's financial health and market performance.

InvestingPro Data reveals that Mesa Air Group has a market capitalization of $53.71 million. Despite challenges, the company has managed to achieve a quarterly revenue growth of 8.0% in Q2 2024. However, it is important to note that the company's gross profit margin stands at 15.12%, reflecting some of the financial pressures it faces.

Two key InvestingPro Tips for Mesa Air Group include:

1. Mesa Air Group is trading at a low Price / Book multiple of 0.35, which might attract investors seeking undervalued stocks.

2. The company is expected to see net income growth this year, which could indicate a potential turnaround or improvement in its financial performance.

For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/MESA, which provide further insights into Mesa Air Group's financial state and stock performance.

These metrics and tips are particularly relevant for shareholders and potential investors considering the company's strategic direction and financial stability following the recent shareholder meeting and the ongoing effort to meet Nasdaq's requirements.

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