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CVV > SEC Filings for CVV > Form 8-K on 26-Nov-2013All Recent SEC Filings

Show all filings for CVD EQUIPMENT CORP

Form 8-K for CVD EQUIPMENT CORP


26-Nov-2013

Submission of Matters to a Vote of Security Holders, Other Events


Item 5.07 Submission of Matters to a Vote of Security Holders

On November 21, 2013, the following proposals were submitted to the shareholders of CVD Equipment Corporation (the "Company") at its annual meeting of shareholders: (i) the election of five (5) directors, (ii) the ratification of the appointment of MSPC as the Company's independent registered public accounting firm for the fiscal year ended December 31, 2013, (iii) the holding of a non-binding shareholder advisory vote on the compensation of named executive officers of the Company, and (iv) the holding of a non-binding shareholder advisory vote on the frequency of holding a non-binding advisory vote on the compensation of the named executive officers of the Company.

The following are the final vote results for each proposal.

(1) The Company's shareholders elected each of the five (5) directors to serve on the Company's Board of Directors until their successors are duly elected and qualified by the following vote:

Election of Directors Vote For  Votes Withheld

Leonard A. Rosenbaum  2,418,480 251,378

Martin J. Teitelbaum  2,399,162 270,696

Conrad J. Gunther     2,401,105 268,753

Bruce T. Swan         2,418,490 251,368

Kelly S. Walters      2,418,870 250,988

(2) The Company's shareholders ratified the appointment of MSPC as the Company's independent registered public accounting firm for the fiscal year ended December 31, 2013 by the following vote:

Number of Votes Number of Votes Number of Votes Cast in Favor Cast Against Abstained

5,229,796 97,256 30,621

(3) The Company's shareholders ratified the advisory resolution supporting the compensation of its named executive officers by the following vote:

Number of Votes Number of Votes Number of Votes Cast in Favor Cast Against Abstained

2,525,611 105,982 38,265


(4) The Company's shareholders selected three (3) years as the rate of frequency of the holding of an advisory vote on named executive officer compensation by the following vote:

Number of Votes Number of Votes Cast Number of Votes Cast Number of Votes Cast

      Cast
  In Favor of    In Favor of Two Years In Favor of One Year      Abstained
  Three Years

   1,809,405            161,781              616,597               82,075



Item 8.01 Other Events

As previously disclosed in the Company's Report on Form 10-Q for the quarter ended September 30, 2013 and filed with the Securities and Exchange Commission on November 14, 2013, the Company had increased its allowance for doubtful accounts by $622,000 due to the decline in credit quality of a major customer. In addition, the Company removed from its backlog the remaining orders from this customer which totaled $2,578,000. On November 20, 2013, the Company received notice that this customer had made an assignment for the benefit of creditors under California state law. The Company is presently evaluating what, if any affect, this action will have on its future results of operations.

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