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In a recent gathering, shareholders of Optex Systems Holdings Inc. (NASDAQ:OPXS), a company specializing in optical instruments and lenses, made key decisions regarding the organization’s leadership and accounting firm. According to InvestingPro analysis, the company appears undervalued at its current market cap of $40.6 million, with strong fundamentals including a 23% revenue growth in the last twelve months. The 2025 annual meeting, held on February 19, saw the election of four board members and the ratification of the company’s independent registered public accounting firm for the fiscal year ending September 28, 2025.
A total of 5,729,315 shares represented at the meeting, which constituted a quorum, voted to elect Danny R. Schoening, Dayton Judd, Dale E. Lehmann, and R. Rimmy Malhotra to the company’s board of directors. Each director will serve until the next annual meeting and until their successors are elected and qualified. The results were decisive, with Schoening receiving 3,909,090 votes for, Judd 3,886,603, Lehmann 3,906,008, and Malhotra 3,768,414. There were a number of withheld votes and broker non-votes for each candidate, but these did not affect the overall outcome.
In addition to the election of directors, shareholders approved the appointment of Whitley Penn LLP as the independent registered public accounting firm for the upcoming fiscal year, with a strong majority of 5,637,056 votes for, only 297 against, and 91,962 abstentions.
The compensation of the company’s named executive officers was also subjected to an advisory vote and was approved with 3,420,567 votes for, 123,022 against, and 448,798 abstentions. This advisory vote is a common practice that allows shareholders to express their opinion on the appropriateness of executive pay.
The results of the meeting confirm that Optex Systems Holdings Inc.’s shareholders are in agreement with the direction in which the board and management are taking the company. This confidence appears well-founded, as InvestingPro data shows the company maintains excellent financial health with a current ratio of 5.63 and holds more cash than debt on its balance sheet. This information is based on the company’s SEC filing and provides investors with insights into the corporate governance of Optex Systems. For deeper insights into OPXS’s financial metrics and 12 additional ProTips, consider exploring InvestingPro.
In other recent news, Optex Systems Holdings, Inc. has secured a $6.5 million contract from DLA Land and Marine. This Indefinite Delivery Indefinite Quantity (IDIQ) agreement is for the supply of Optically Improved Periscopes, with an initial term of three years and an option to extend for two additional years. The new contract adds to Optex’s current backlog, which now exceeds $42 million. CEO Danny Schoening emphasized the company’s long-standing relationship with the U.S. Government and its commitment to quality and reliability. The contract is a significant development for Optex, which specializes in manufacturing precision optical sighting systems. This agreement underscores the company’s role in equipping U.S. armored vehicles with advanced laser-protected periscopes. The recent developments reflect Optex’s ongoing contributions to military optical systems, further solidifying its position in the defense sector.
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