Maui Land & Pineapple Company Shareholders Vote on Key Proposals

Published 22/05/2025, 22:10
Maui Land & Pineapple Company Shareholders Vote on Key Proposals

On May 21, 2025, Maui Land & Pineapple Company, Inc. (NYSE:MLP) conducted its annual meeting of stockholders, where several key proposals were voted upon. The Lahaina, Maui-based real estate company, which had 19,742,784 shares of common stock outstanding as of the record date, March 27, 2025, reported the results of the voting in a recent SEC filing.

The first proposal concerned the election of seven directors to serve one-year terms until the 2026 annual meeting. All nominees were elected, with the number of votes cast for each ranging from 13,238,487 to 14,442,761, and no broker non-votes were reported.

The second proposal was an advisory vote on the compensation of the company’s named executive officers. Stockholders approved the compensation, with 13,553,101 votes in favor, 912,932 against, and 10,072 abstentions. According to InvestingPro data, this vote comes as the company faces profitability challenges, with negative earnings and EBITDA in the last twelve months, and an overall weak financial health score.

The third proposal addressed the frequency of future advisory votes on executive compensation. A majority of stockholders favored annual votes, with 13,962,056 votes for the 1-year option, significantly outweighing the alternatives.

Finally, stockholders approved the fourth proposal, which sought to amend the 2017 Equity and Incentive Award Plan by increasing the total number of shares reserved for issuance by 800,000. The votes in favor totaled 13,865,843, with 600,625 against and 9,637 abstentions.

Following the stockholders’ preference for annual advisory votes on executive compensation, the company’s board of directors has decided to hold such votes annually until the next vote on the frequency of stockholder votes on executive pay.

This report is based on information contained in a Form 8-K filed by Maui Land & Pineapple Company, Inc. with the SEC.

In other recent news, Maui Land & Pineapple Company Inc. (MLP) reported a robust financial performance for the fourth quarter of 2024, with revenue reaching €1,067 million, marking a 10% increase from the previous year. The company’s earnings before interest and taxes (EBIT) improved to €95 million, and it recorded a net profit of €69.3 million. Additionally, MLP announced a proposed dividend increase of 20% to €0.36 per share. Despite these strong financial results, the company’s stock experienced a decline, which may reflect broader market trends or investor caution. MLP has set an ambitious EBIT target of €100-110 million for 2025, with further growth anticipated in the mid-term. The company also plans to expand its assets under management to €75-81 billion by 2028. Analysts noted the company’s strategic initiatives, including the development of AI-powered digital assistants and a digital claims processing system, which underscore its commitment to innovation. The company continues to enhance its competitive position by managing €63.1 billion in assets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.