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In a recent 8-K filing with the Securities and Exchange Commission, Fundamental Global Inc., a company specializing in fire, marine, and casualty insurance with a market capitalization of $28.3 million, reported the outcomes of its Annual Meeting held on Thursday.
According to InvestingPro data, the stock has experienced significant volatility, declining 12% in the past week alone. The meeting saw the election of directors, approval of an amendment to the equity incentive plan, ratification of the company's independent auditor, and advisory approval of executive compensation.
The election results confirmed all seven board nominees, including D. Kyle Cerminara, Richard E. Govignon, Jr., Rita Hayes, Michael C. Mitchell, Robert J. Roschman, Ndamukong Suh, and Scott D. Wollney, who will serve until the 2025 annual meeting. The shareholders also approved Amendment No. 2 to the company’s 2021 Equity Incentive Plan, with 538,721 votes for and 50,091 against.
Haskell & White LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024, with a substantial majority of 841,250 votes in favor. Additionally, the compensation of the company’s Named Executive Officers received advisory approval, with 576,704 votes for the proposal.
Approximately 67.4% of the outstanding common stock was represented at the meeting, highlighting active shareholder participation. Fundamental Global Inc., formerly known as FG Financial Group, Inc. and prior to that as 1347 Property Insurance Holdings, Inc., has its principal executive offices in Mooresville, NC.
The company's common stock and 8.00% Cumulative Preferred Stock, Series A, are both listed on The Nasdaq Stock Market under the symbols FGF and FGFPP, respectively. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with a price-to-book ratio of 0.47 and a "Fair" overall financial health rating.
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