PACIFIC ETHANOL : Submission of Matters to a Vote of Security Holders (form 8-K/A)
January 24, 2020 at 04:33 pm IST
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Item 5.07 Submission of Matters to a Vote of Security Holders.
At the Annual Meeting, stockholders cast approximately 58% of votes, not
including abstentions, and representing a majority of votes, in favor of holding
future say-on-pay votes on an annual basis. The Board of Directors of the
Company had recommended a vote for frequency of say-on-pay votes every three
years. In light of this result and other factors it considered, the Board of
Directors has determined that the Company will hold future say-on-pay votes on
an annual basis until the next advisory vote on the frequency of say-on-pay
votes occurs. The next advisory vote regarding the frequency of say-on-pay votes
is required to occur no later than the Company's 2025 Annual Meeting of
Stockholders.
Alto Ingredients, Inc. produces and distributes renewable fuel and essential ingredients and is a producer of specialty alcohols in the United States. The Company's segments include Pekin Campus production, marketing and distribution and Western production. Pekin Campus production segment includes the production and sale of alcohols and essential ingredients produced at the Companyâs Pekin, Illinois campus. Its marketing and distribution segment includes marketing and merchant trading for Company-produced alcohols and essential ingredients on an aggregated basis, and sales of fuel-grade ethanol sourced from third parties. Western production segment includes the production and sale of fuel-grade ethanol and essential ingredients produced the Companyâs two western production facilities. It produces specialty alcohols, fuel-grade ethanol and essential ingredients, focusing on various markets, such as health, home and beauty; food and beverage; essential ingredients, and renewable fuels.