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MIAMI, FL—EVI Industries, Inc. (NYSE American: EVI), a provider of personal services with annual revenue of $359 million and strong financial health according to InvestingPro analysis, has received stockholder approval to amend its 2015 Equity Incentive Plan, the company announced in a recent SEC filing.
The amendment, approved during the Annual Meeting of Stockholders on December 12, 2024, increases the number of shares authorized for issuance under the plan from 3,000,000 to 3,500,000. Additionally, the amendment introduces an automatic acceleration of vesting for all outstanding awards in the event of a Change in Control of the company, with certain exceptions related to the company's controlling stockholder.
The stockholders also voted to re-elect six directors to the company's board, each serving until the 2025 Annual Meeting of Stockholders or until their successors are elected and qualified. The directors re-elected are Henry M. Nahmad, Dennis Mack, David Blyer, Glen Kruger, Timothy P. LaMacchia, and Hal M. Lucas.
The approval of the equity incentive plan amendment signifies an expansion of the company's ability to offer stock-based awards to attract and retain talent. This strategic move comes as EVI Industries, known for its services in the personal services sector and operating under the organization name '07 Trade & Services', continues to navigate the competitive landscape of the industry.
The detailed results of the stockholder votes were disclosed in the filing, providing transparency about the level of support for each director nominee and the equity incentive plan amendment. The company, headquartered on Biscayne Boulevard in Miami, Florida, and incorporated in Delaware, has its common stock listed on the NYSE American with the trading symbol EVI.
The filing provides a factual account of the proceedings and outcomes of the Annual Meeting of Stockholders held on December 12, 2024, and confirms the stockholders' decisions regarding the board of directors and the equity incentive plan.
The stock has experienced a challenging year, with a -25.48% return over the past 12 months. Investors seeking deeper insights into EVI's valuation and growth prospects can access additional analysis and 6 exclusive ProTips through InvestingPro.
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