Bio-key International shareholders approve board nominees and key proposals

BIO-key International, Inc. (NASDAQ:BKYI) announced Wednesday that shareholders approved all proposals presented at the company’s annual meeting held Friday.

According to a press release statement based on the company’s SEC filing, shareholders elected five directors to serve one-year terms on the board. The elected directors are Michael W. DePasquale, Wong Kwok Fong (Kelvin), Robert J. Michel, Emmanuel Alia, and Cameron E. Williams. Vote totals for each nominee ranged from 995,776 to 1,001,229 in favor, with 299,168 to 304,621 votes withheld.

Shareholders also ratified the selection of Bush & Associates CPA LLC as BIO-key’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 3,500,203 votes in favor, 461,100 against, and 52,205 abstentions.

In an advisory vote, shareholders approved the compensation of the company’s named executive officers, with 975,360 votes for, 317,871 against, and 7,166 abstentions.

Two amendments to company plans also received approval. The first amendment concerned the BIO-key International, Inc. 2023 Stock Incentive Plan, which passed with 984,898 votes for and 306,548 against. The second amendment related to the 2021 Employee Stock Purchase Plan, which was approved with 1,024,119 votes for and 269,561 against.

All voting results included broker non-votes totaling 2,713,111 for each proposal.

BIO-key International, Inc. is listed on the Nasdaq Capital Market under the ticker BKYI. The company’s annual meeting was open to shareholders of record as of June 20, 2025.

All information in this article is based on a press release statement and details from the company’s recent SEC filing.

In other recent news, BIO-key International Inc. reported a notable 49% increase in revenue for the second quarter of 2025 compared to the same period last year. Despite this substantial revenue growth, the company’s stock experienced a decline in premarket trading, attributed to investor concerns over broader market conditions and future guidance. The earnings report highlights a positive financial performance, but the market’s reaction underscores the complex factors that can influence investor sentiment. No mergers or acquisitions were reported in conjunction with the earnings announcement. Additionally, there were no recent analyst upgrades or downgrades mentioned in the available context. The revenue surge marks a significant achievement for BIO-key, reflecting its operational success during the quarter. However, the stock’s movement suggests ongoing caution among investors regarding the company’s future prospects.

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