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Mesa Laboratories, Inc. (NASDAQ:MLAB), a $396 million market cap industrial instruments manufacturer, reported Monday that shareholders approved all proposals at its annual meeting held Friday. The company’s stock has faced significant headwinds, declining nearly 50% over the past six months according to InvestingPro data. The information is based on a statement in a recent SEC filing.
Of 5,501,454 shares entitled to vote, 5,203,377 shares were represented in person or by proxy. Seven directors—John J. Sullivan, Gary M. Owens, Jennifer S. Alltoft, Shannon M. Hall, Shiraz S. Ladiwala, R. Tony Tripeny, and Mark C. Capone—were elected to serve until the 2026 annual meeting. Each nominee received at least 4,690,793 votes in favor, with votes withheld ranging from 41,185 to 195,707. There were 316,877 broker non-votes for each nominee.
Following the election, the board appointed members to its committees. R. Tony Tripeny was named chair of the Audit Committee, Mark C. Capone as chair of the Compensation Committee, and Jennifer S. Alltoft as chair of the Nominating and Corporate Governance Committee. Despite recent challenges, including negative earnings in the last twelve months, the company maintains strong fundamentals with a 62% gross profit margin and has consistently paid dividends for 23 consecutive years, as revealed by InvestingPro analysis.
Shareholders also ratified the selection of Baker Tilly US, LLP as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2026. The appointment received 5,200,789 votes in favor, 1,732 against, and 856 abstentions.
In a non-binding advisory vote, compensation for the company’s named executive officers was approved, with 4,476,544 votes for, 275,297 against, and 134,659 abstentions. There were 316,877 broker non-votes.
An amendment to the company’s 2021 Equity Incentive Plan was also approved. The proposal received 4,601,685 votes in favor, 247,476 against, and 37,339 abstentions, with 316,877 broker non-votes.
Mesa Laboratories , based in Lakewood, Colorado, manufactures industrial instruments for measurement, display, and control. The company’s common stock is listed on the Nasdaq Stock Market under the symbol MLAB.
In other recent news, Mesa Laboratories, Inc. announced a quarterly dividend of $0.16 per share of common stock. The dividend is scheduled to be payable on September 15, 2025, to shareholders who are recorded by August 29, 2025. Additionally, Mesa Laboratories disclosed a significant change in its auditing firm due to a merger involving its previous auditor, Moss Adams LLP, and Baker Tilly US, LLP. Following the merger, Moss Adams resigned, and Baker Tilly has been approved by the Audit Committee of Mesa Laboratories’ Board of Directors as the new independent registered public accounting firm. These developments reflect Mesa Laboratories’ ongoing adjustments and commitments to its shareholders and financial oversight.
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