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Energy Focus, Inc. (NASDAQ:EFOI), a micro-cap company with a market value of $9.39 million, announced the results of its annual meeting of stockholders held on June 12, where shareholders voted on four key proposals, according to an SEC filing released Wednesday. The company’s stock has shown strong momentum this year, gaining nearly 50% year-to-date. InvestingPro analysis indicates the company maintains a solid liquidity position with a current ratio of 2.11, though its overall financial health score remains challenged.
At the meeting, shareholders elected seven directors to serve until the next annual meeting: Kin-Fu Chen, Jay (Chiao-Chieh) Huang, Wen-Jeng Chang, Shou-Jang Lee, Chao-Jen Huang, Wen-Cheng Chen, and Gina (Mei-Yun) Huang. Each nominee received over 3.67 million votes in favor, with minimal opposition.
Stockholders also approved the appointment of GBQ Partners LLC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, with approximately 3.9 million votes supporting the measure.
In addition, shareholders approved the compensation of the company’s named executive officers in an advisory vote, with over 3.19 million votes in favor.
For the frequency of future advisory votes on executive compensation, stockholders expressed a preference for holding such votes every two years, with this option receiving approximately 3.08 million votes compared to 483,029 votes for a three-year cycle and 114,096 votes for an annual vote.
The meeting had a 75.51% participation rate, representing 4,061,345 shares of the company’s common stock and Series A Convertible Preferred Stock.
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