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Beam Global (NASDAQ:BEEM) held its 2025 Annual Meeting of Stockholders at its San Diego headquarters on Tuesday. According to a statement based on a SEC filing, shareholders holding approximately 58.38% of the company’s outstanding common stock participated either in person or by proxy.
At the meeting, shareholders elected four directors to serve for a one-year term on the board. The individuals elected were Desmond Wheatley, Judy Krandel, Anthony Posawatz, and George Syllantavos. The votes in favor ranged from 3,608,390 to 3,652,540 shares, while votes withheld ranged from 111,938 to 156,088 shares. The company, currently valued at approximately $50 million in market capitalization, maintains a strong balance sheet with more cash than debt and a healthy current ratio of 1.77.
Shareholders also approved, on an advisory and non-binding basis, the compensation of Beam Global’s named executive officers. The proposal received 3,395,657 votes for, 312,080 votes against, and 56,741 abstentions. There were 6,533,605 broker non-votes on this item.
Additionally, the appointment of CBIZ CPAs P.C. as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. This proposal received 10,175,625 votes for, 64,316 against, and 58,142 abstentions.
The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Beam Global has been granted a new patent for its Intelligent Battery Thermal Management (iBTM) system, which enhances the charging of lithium-ion batteries in extremely cold conditions. The U.S. Patent Office awarded Patent No. US 12,431,549 for this technology, which incorporates a heating element with the company’s proprietary Phase Change Composite material to regulate battery temperature. Additionally, Beam Global has secured another patent, numbered US 12,422,195, for its Phase Change Composite (PCC™) material designed for lithium-ion batteries, functioning as a thermal switch to insulate and cool batteries under varying conditions. The company also announced the renewal of its U.S. General Services Administration (GSA) Multiple Award Schedule contract, extending its availability through October 31, 2030, with potential options extending to 2040. This renewal includes a Cooperative Purchasing provision, allowing state and local governments to purchase Beam’s products directly. In terms of financial performance, Beam Global’s quarterly revenue met expectations, and the company reported record gross margins and disciplined cost control. Needham has maintained its Hold rating on Beam Global, citing a balanced risk-reward profile at current price levels. These developments reflect Beam Global’s ongoing efforts in innovation and operational progress.
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