false --12-31 0000069488 0000069488 2021-04-29 2021-04-29

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 29, 2021

 

Myers Industries, Inc.

(Exact Name of Registrant as Specified in Charter) 

 

  

 

 

 

 

Ohio

 

001-8524

 

34-0778636

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

 

 

1293 South Main Street, Akron, Ohio 44301

(Address of Principal Executive Offices, and Zip Code)

(330) 253-5592

Registrant’s Telephone Number, Including Area Code

 

(Former name or former address, if changed since last report)

 

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 communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol

 

Name of each exchange on which registered

Common Stock, without par value

 

MYE

 

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 


 

 

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 29, 2021, at the 2021 Annual Meeting of Shareholders, the shareholders of Myers Industries, Inc. (the “Company”) approved the Company’s 2021 Long-Term Incentive Plan (the “Plan”). Under the Plan, the Company may grant equity-based incentive awards to non-employee directors, officers, and other eligible participants. A total of 2,000,000 shares of the Company’s common stock are reserved for issuance under the Plan. The awards available for grant under the Plan include stock options, stock appreciation rights, restricted shares of common stock, and restricted stock units. The Plan will be administered by the Compensation and Management Development Committee of the Board of Directors and will expire on April 29, 2031.

The foregoing summary of the Plan is qualified in its entirety by reference to the detailed summary of the Plan set forth in the section “Proposal No. 4 – Adopt the Myers Industries, Inc. 2021 Long-Term Incentive Plan” in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 26, 2021 (as updated by the supplement filed on April 20, 2021) and to the full text of the Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On April 29, 2021, the shareholders of Myers Industries, Inc. (the “Company”) approved two amendments to Article VII of the Company’s Amended and Restated Articles of Incorporation (the “Articles”) to require that directors be elected by a majority of votes cast in uncontested elections and to provide that all matters subject to shareholder approval may be approved by a majority of the voting power of the Company. The amendments to Article VII of the Articles replace the plurality voting standard for uncontested director elections and the current two-thirds majority voting standard for all matters requiring shareholder approval. The Articles were amended and restated as set forth in the Second Amended and Restated Articles of Incorporation, a copy of which is attached hereto as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Also on April 29, 2021, the Board of Directors of the Company amended its Amended and Restated Code of Regulations (as so amended, the “Regulations”). Article II, Section 3 of the Regulations was amended to require that directors be elected by a majority of votes cast in uncontested elections. The amendment to Article II, Section 3 of the Regulations replaces the plurality voting standard in the Regulations for uncontested director elections in a manner consistent with the amendment to Article VII of the Articles approved by the Company’s shareholders. The foregoing description of the amendment to the Regulations is qualified in its entirety by reference to the full text of the Regulations, a copy of which is attached hereto as Exhibit 3.2 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 5.07Submission of Matters to a Vote of Security Holders.

On April 29, 2021, Myers Industries, Inc. (the “Company”) held its 2021 Annual Meeting of Shareholders (the “Annual Meeting”). As of the close of business on March 5, 2021, the record date for the Annual Meeting, 36,008,505 common shares were outstanding and entitled to vote. At the Annual Meeting, 34,225,171, or approximately 95.05%, of the outstanding common shares entitled to vote were represented in person or by proxy, including 1,793,489 broker non-votes. At the Annual Meeting, the shareholders of the Company voted as set forth below on the following proposals,

 


 

each of which is described in detail in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on March 26, 2021 (the “Proxy Statement”).

Proposal No. 1. Election of Directors.

The Company’s shareholders elected, with the respective votes set forth opposite their names, the following persons to the Company’s Board of Directors to hold office until the 2022 annual meeting of shareholders or until their successors are duly elected and qualified:

 

Name

 

For

 

 

Withheld

 

 

Broker

Non-Vote

 

Yvette Dapremont Bright

 

 

32,364,894

 

 

 

66,788

 

 

 

1,793,489

 

Sarah R. Coffin

 

 

31,786,592

 

 

 

645,090

 

 

 

1,793,489

 

Ronald M. De Feo

 

 

31,781,623

 

 

 

650,059

 

 

 

1,793,489

 

William A. Foley

 

 

31,565,825

 

 

 

865,857

 

 

 

1,793,489

 

Jeffrey Kramer

 

 

32,367,001

 

 

 

64,681

 

 

 

1,793,489

 

F. Jack Liebau, Jr.

 

 

31,761,937

 

 

 

669,745

 

 

 

1,793,489

 

Bruce M. Lisman

 

 

31,752,546

 

 

 

679,136

 

 

 

1,793,489

 

Lori Lutey

 

 

31,830,466

 

 

 

601,216

 

 

 

1,793,489

 

Michael McGaugh

 

 

32,040,128

 

 

 

391,554

 

 

 

1,793,489

 

Robert A. Stefanko

 

 

31,725,416

 

 

 

706,266

 

 

 

1,793,489

 

 

Proposal No. 2. Amend Article VII of the Articles to Provide for Majority Voting for Directors in Uncontested Elections.

 

The Company’s shareholders approved an amendment to Article VII of the Company’s Amended and Restated Articles of Incorporation (“Articles”) to require that directors be elected by a majority of votes cast in uncontested elections. Voting results on this proposal were as follows:

 

For

 

 

32,386,622

 

Against

 

 

40,110

 

Abstain

 

 

4,950

 

Broker Non-Vote

 

 

1,793,489

 

 

Proposal No. 3. Amend Article VII of the Articles to Provide for Majority Voting On All Matters Subject to Shareholder Approval.

 

The Company’s shareholders approved an amendment to Article VII of the Articles to provide that all matters subject to shareholder approval may be approved by a majority of the voting power of the Company. Voting results on this proposal were as follows:

 

For

 

 

32,357,754

 

Against

 

 

69,263

 

Abstain

 

 

4,665

 

Broker Non-Vote

 

 

1,793,489

 

 

 


 

 

Proposal No. 4. Adopt 2021 Long-Term Incentive Plan.

 

The Company’s shareholders approved the adoption of the Myers Industries, Inc. 2021 Long-Term Incentive Plan. Voting results on this proposal were as follows:

 

For

 

 

30,971,154

 

Against

 

 

1,426,202

 

Abstain

 

 

34,326

 

Broker Non-Vote

 

 

1,793,489

 

 

Proposal No. 5. Advisory Vote to Approve Executive Compensation.

 

The Company’s shareholders, by adopting a non-binding advisory resolution, approved the 2020 compensation of the Company’s named executive officers, with over 99% of the total shares voted being cast “for” the proposal. Voting results on this proposal were as follows:

 

For

 

 

32,145,637

 

Against

 

 

261,426

 

Abstain

 

 

24,619

 

Broker Non-Vote

 

 

1,793,489

 

 

Proposal No. 6. Ratification of Appointment of Independent Registered Public Accounting Firm.

 

The Company’s shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal year ending December 31, 2021. Voting results on this proposal were as follows:

 

For

 

 

33,973,217

 

Against

 

 

246,525

 

Abstain

 

 

5,429

 

Broker Non-Vote

 

 

 

 

Item 9.01Financial Statements and Exhibits.

(d)     Exhibits.

 

Exhibit

Number

  

Description

 

 

  3.1

 

Myers Industries, Inc. Second Amended and Restated Articles of Incorporation

 

 

 

  3.2

  

Myers Industries, Inc. Amended and Restated Code of Regulations, as amended

 

 

 

10.1

 

Myers Industries, Inc. 2021 Long-Term Incentive Plan

 

 

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 


 

 

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.

 

 

 

Myers Industries, Inc.

 

 

 

 

 

By:

 

/s/ Andrean R. Horton

 

 

 

 

Andrean R. Horton

 

 

 

 

Chief Legal Officer and Secretary

 

 

Date: April 29, 2021

 

 

Myers Industries (NYSE:MYE)
Historical Stock Chart
From Apr 2022 to May 2022 Click Here for more Myers Industries Charts.
Myers Industries (NYSE:MYE)
Historical Stock Chart
From May 2021 to May 2022 Click Here for more Myers Industries Charts.