UNITED STATES
SECURITY AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 17, 2016
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National Presto Industries, Inc.
(Exact name of registrant as specified in this chapter)
Wisconsin |
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1-2451 |
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39-0494170 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
3925 North Hastings Way Eau Claire, Wisconsin |
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54703-3703 |
(Address of principal executive office) |
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(Zip Code) |
Registrant’s telephone number, including area code: 715-839-2121
N/A
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))
Item 5.07. Submission of Matters to a Vote of Security Holders.
The registrant held its Annual Meeting of Stockholders on May 17, 2016. At the meeting, stockholders re-elected Richard N. Cardozo and Patrick J. Quinn to serve as directors, each for a three-year term ending at the annual meeting to be held in 2019. The stockholders also ratified the appointment of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2016. A press release regarding the outcome of the votes of stockholders is attached hereto as Exhibit 99.1.
Set forth below are the final voting results for each of the proposals.
Election of Directors
Name |
For |
Withheld |
Broker Non-Votes |
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Richard N. Cardozo |
4,544,620 | 1,058,602 | 896,770 | |||||
Patrick J. Quinn |
5,469,772 | 133,450 | 896,770 |
Ratify the Appointment of BDO USA, LLP as the Independent Registered Public Accounting Firm
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For |
Against |
Abstain |
Broker Non-Votes |
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6,462,009 | 21,605 | 16,378 | 0 |
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
Description |
99.1 |
Press Release of National Presto Industries, Inc. dated May 18, 2016 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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National Presto Industries, Inc. |
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(Registrant) |
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Date: May 19, 2016 |
By: |
/s/ Maryjo Cohen |
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(Signature) Maryjo Cohen, President |
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and Chief Executive Officer |
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EXHIBIT 99.1
NEWS RELEASE |
CONTACT: Randy Lieble |
FOR IMMEDIATE RELEASE |
(715) 839-2164 |
NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES ELECTION OF DIRECTORS AT ITS ANNUAL STOCKHOLDER MEETING
Eau Claire, Wisconsin (May 18, 2016) –The shareholders of National Presto Industries, Inc. (NYSE: NPK) re-elected Richard Cardozo and Patrick Quinn to new three-year terms as directors at the May 17, 2016, annual stockholders meeting. The shareholders also ratified the appointment of BDO USA, LLP, as the Company's registered public accounting firm for the year ending December 31, 2016. In addition, during the meeting, the 2016 new housewares/small appliance product introductions were shown to the shareholders.
The new products included an innovative line of handsome, die-cast griddles. The griddles feature a three-position handle. In the first position, each griddle is perfectly level, ideal for cooking pancakes, eggs, and French toast. In the second, the surface tilts to the desired drainage angle for reduced fat cooking of foods like bacon or burgers. In the third, the handles fold down for compact vertical storage in a cabinet. A number of freshly restyled products were also shown. They included a new line of PRESTO® and Orville Redenbacher’s* by Presto hot air poppers that marry superior performance with sleek functional styling, a newly styled HeatDish® parabolic heater with a manual reset button, and a restyled Professional SaladShooter® featuring black and stainless steel accents designed to be used either in the traditional handheld position or in a stationary position above a bowl. Each of these products also features convenient onboard cord storage. A line of die-cast “warm-silver,” ceramic-coated skillets and griddles for the domestic market and a budget coffeemaker and rice cooker for the international market were also displayed, as was a new manual can opener that rounds out its gadget line. Finally, the newest addition to the Company’s pressure cooker family was revealed: an electronic pressure cooker that provides the consumer with the ultimate in flexibility. The product not only offers all of the benefits of pressure cooking, including the reduction of standard cooking times by as much as two-thirds, but also functions as a slow cooker. The pressure cooker is all but automatic. The consumer has the option of selecting one of the preset buttons to prepare specific foods at appropriate pressure settings. Alternatively, the user can designate a specific cooking time at high or low pressure. As with all Presto® cookers, the product is accompanied by a complete recipe and instruction manual.
National Presto Industries, Inc. operates in three business segments. The Housewares/Small Appliance segment designs and sells small household appliances and pressure cookers under the PRESTO® brand name and is recognized as an innovator of new products. The Defense segment manufactures a variety of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, and cartridge cases, less-lethal munitions and less-lethal accessory equipment. The Absorbent Products segment primarily engages in the manufacture of private label adult incontinence products.
This release contains “forward looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. In addition to the factors discussed above, other important risk factors are delineated in the Company’s various SEC filings.
* Orville Redenbacher's® is a registered trademark of ConAgra Foods RDM, Inc., used under license.