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PHOENIX, AZ – Universal Technical Institute Inc . (NYSE:UTI) shareholders have re-elected four Class III directors and ratified the appointment of Deloitte & Touche LLP as the company’s independent auditor, according to a recent 8-K filing with the Securities and Exchange Commission.
During the Annual Meeting held on March 6, 2025, stockholders cast their votes on three proposals outlined in the proxy statement filed on January 15, 2025. The elected directors, who will serve until 2028, include Loretta L. Sanchez, Christopher S. Shackelton, Michael A. Slubowski, and Kenneth R. Trammell. The voting results were overwhelmingly in favor of the nominees, with the lowest number of votes for a director being 41,189,518 and the highest number of broker non-votes for each director at 2,321,868.
In addition to the director elections, stockholders approved the appointment of Deloitte & Touche LLP as the company’s independent auditor for the fiscal year ending September 30, 2025. The proposal received strong support with 44,877,455 votes for and only 264,183 votes against.
Furthermore, the company’s named executive officers’ compensation received advisory approval from the stockholders, with 41,838,139 votes for, 880,804 against, and 186,780 abstentions.
No further proposals were presented for voting at the Annual Meeting. The results indicate a solid backing from shareholders for the current board and executive compensation plan, as well as continued trust in Deloitte & Touche LLP as the company’s auditor.
Universal Technical Institute, a leading provider of technical training, is incorporated in Delaware and headquartered in Phoenix, Arizona. The company specializes in educational services and operates under the trade and services organization name, achieving 14.7% revenue growth in the last twelve months. The latest SEC filing, based on a press release statement, confirms the shareholders’ decisions and the company’s commitment to transparency and governance. InvestingPro analysis reveals 8 additional key insights about UTI’s performance and valuation, available in the comprehensive Pro Research Report, which transforms complex Wall Street data into actionable intelligence for smarter investing decisions.
In other recent news, Universal Technical Institute (UTI) has garnered attention with a notable analyst upgrade and a new partnership initiative. Rosenblatt Securities increased its price target for UTI shares to $36 from the previous $30, maintaining a Buy rating on the stock. The upgrade is attributed to UTI’s strong corporate partnerships and successful student outcomes, which have contributed to its impressive financial performance. Rosenblatt’s analysis highlights UTI’s effective strategies and high return on investment for students, citing the company’s role in addressing the skills gap in the United States.
Additionally, UTI has expanded its Manufacturer Specific Advanced Training offerings by including Tesla (NASDAQ:TSLA)’s START Collision Repair program at its Long Beach campus, set to begin in Spring 2025. This program aims to equip graduates with specialized skills for careers at Tesla, marking a significant collaboration between the two entities. UTI is the only educational institution offering Tesla’s START program, underscoring its commitment to innovation and adapting to the evolving automotive landscape. The collaboration with Tesla enhances UTI’s portfolio of 27 specialized training programs, potentially providing graduates with an advantage in the job market.
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