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Gencor Industries, Inc. (NYSE American:GENC) held its annual meeting of stockholders on Friday, where shareholders approved the election of directors and ratified the selection of the company’s independent auditor, according to a press release statement based on a filing with the U.S. Securities and Exchange Commission.
Shareholders holding 12,338,845 shares of common stock and 2,318,857 shares of Class B stock were entitled to vote at the meeting. General John G. Coburn (Ret.) was elected as director by holders of common stock, receiving 5,633,229 votes in favor, with 3,841,443 votes abstained or withheld, and 1,292,403 broker non-votes. According to InvestingPro data, the company maintains exceptional financial stability with a current ratio of 24.8 and zero debt, making it well-positioned for future growth.
Holders of Class B stock elected E.J. Elliott, Marc G. Elliott, Thomas A. Vecchiolla, and Walter A. Ketcham, Jr. as directors. Each nominee received 2,318,857 votes in favor, with no votes abstained, withheld, or broker non-votes.
Shareholders also ratified the selection of Berkowitz Pollack Brant Advisors + CPAs as Gencor’s independent registered public accounting firm for the fiscal year ending September 30, 2025. The ratification received 10,704,103 votes for and 62,471 votes against from holders of common stock, with 501 abstentions. Holders of Class B stock cast 2,318,857 votes in favor, with no votes against or abstained.
No other business was brought before the annual meeting. For deeper insights into Gencor’s financial health and additional investment metrics, subscribers to InvestingPro can access exclusive analysis and multiple ProTips about the company’s financial position and growth potential.
All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
In other recent news, Gencor Industries has regained compliance with NYSE American listing standards after filing its previously delayed financial reports. The company received confirmation from NYSE that it is now compliant with Section 1007 of the NYSE American Company Guide, resulting in its removal from the exchange’s late filers’ list. Additionally, Gencor Industries announced that its annual shareholder meeting is scheduled for September 26, 2025. This meeting will occur following the conclusion of the company’s fiscal year ending on September 30, 2024. Shareholders of record as of August 11, 2025, will be eligible to receive notice and vote at the meeting. The exact time and location of the meeting will be detailed in the forthcoming proxy statement to be filed with the Securities and Exchange Commission. These developments are part of the company’s recent activities.
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