Natural Alternatives International, Inc. (NASDAQ:NAII), a company specializing in medicinal chemicals and botanical products currently valued at $25.26 million, announced the outcomes of its recent stockholder meeting in a press release statement. According to InvestingPro data, the company faces significant operational challenges, with its stock trading near its 52-week low of $4.22, down from its high of $7.37.
During the gathering held on Thursday, the election of two Class I directors and the ratification of the company's independent registered public accounting firm for the upcoming fiscal year were the primary matters addressed.
The stockholders re-elected Guru Ramanathan and Mark A. LeDoux as Class I directors, with Ramanathan receiving 3,144,668 votes for and 547,647 votes withheld, and LeDoux attaining 3,282,438 votes for and 409,877 votes withheld. Both directors will serve until the next annual meeting slated to elect Class I directors and until their successors are duly elected and qualified. There were no votes against the directors, and broker non-votes totaled 1,237,675 for each candidate.
Additionally, Haskell & White LLP was ratified as the independent registered public accounting firm for the fiscal year ending June 30, 2025. The decision was made with 4,468,314 votes for, none withheld, 447,551 votes against, and 14,125 abstentions.
The approval of the director elections and the accounting firm ratification reflects the stockholders' support for the company's current leadership and financial oversight practices. These decisions are crucial for the company's governance and strategic direction as it heads into the next fiscal year, particularly given the company's challenging performance, with a six-month price decline of 34%.
Natural Alternatives International, based in Carlsbad, California, is incorporated in Delaware and operates under the leadership of a board of directors responsible for setting the company's strategic direction and overseeing management. The company's fiscal year ends on June 30th, and these recent votes are part of its regular governance and accountability processes to its shareholders.
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