BofA update shows where active managers are putting money
Willamette Valley Vineyards, Inc. (NASDAQ:WVVI), a winery with impressive gross profit margins of 61.5% but currently unprofitable over the last twelve months, held its 2025 annual meeting of shareholders virtually from Turner, Oregon on July 12. According to a press release statement based on a recent SEC filing, 3,688,318 shares, or approximately 74.29% of outstanding common stock, were represented at the meeting. InvestingPro analysis indicates the company’s stock has recently experienced significant pressure, down 8.5% in the past week.
Shareholders voted on three proposals. For the election of directors, James Ellis was elected to serve until 2028, receiving 1,847,622 votes in favor (59.50%) and 1,257,770 votes withheld (40.50%).
The appointment of Baker Tilly US, LLP as independent auditors for the 2025 fiscal year was ratified with 3,664,824 votes for (99.36%), 10,789 votes against (0.29%), and 12,705 abstentions (0.34%).
Shareholders also approved the company’s 2025 Omnibus Equity Incentive Plan. The proposal received 2,718,747 votes in favor (87.55%), 356,979 votes against (11.50%), and 29,666 abstentions (0.96%).
Willamette Valley Vineyards’ Series A Redeemable Preferred Stock (NASDAQ:WVVIP) was also listed as a registered security in the filing.
All information is based on the company’s statement in its SEC filing.
In other recent news, Willamette Valley Vineyards has appointed Mike Osborn as its new Chief Executive Officer. Osborn, the founder of Wine.com, takes over from Jim Bernau, who will remain as President and Chairman. This leadership change comes as the company aims to enhance its brand and market share. In a separate development, Willamette Valley Vineyards announced a change in its independent registered public accounting firm. Following a merger, Baker Tilly US, LLP has been appointed as the new auditor, replacing Moss Adams LLP. Additionally, the company has updated its bylaws to allow for the separation of the roles of President and CEO, providing more flexibility in its executive structure. These recent developments reflect the company’s ongoing efforts to adapt its governance practices and strengthen its market presence.
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