UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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):  May 3, 2011

 

Power-One, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware

 

000-29454

 

77-0420182

(State or Other Jurisdiction of
Incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

740 Calle Plano
Camarillo, California

 

93012

(Address of Principal Executive Offices)

 

(Zip Code)

 

(805) 987-8741

(Registrant’s Telephone Number, Including Area Code)

 

Not applicable

(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:

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

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

 

 

 



 

Item 5.07:              Submission of Matters to Vote of Stockholders.

 

The Annual Meeting of Stockholders of Power-One, Inc. (“Power-One” or the “Company”) was held on May 3, 2011.  Proxies were solicited by the Company pursuant to Regulation 14 under the Securities Exchange Act of 1934 for the following four proposals:

 

Proposal 1:  To elect the members of the Board of Directors, subject to the right of the holders of the Company’s preferred stock to separately elect two directors;

 

Proposal 2:  To adopt an advisory resolution on named executive officer compensation;

 

Proposal 3:  To conduct an advisory vote on the frequency of future advisory votes on named executive officer compensation;

 

Proposal 4:  To approve the amendment to the Amended and Restated Power-One, Inc. 2004 Stock Incentive Plan; and

 

Proposal 5:  To ratify the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of Power-One for the 2011 fiscal year.

 

Proxies representing 89,846,283 shares of the common stock eligible to vote at the meeting, or 86.1% of the outstanding common shares, were voted.   Proxies representing 17,500,000 shares of the preferred stock eligible to vote at the meeting, or 100% of the outstanding preferred shares, were voted.

 

The following is a tabulation of the votes with respect to each of the proposals:

 

Proposal One

Election of Common Stock Directors

 

 

 

Votes For

 

% of Voted 
Shares 
Voting For

 

Votes 
Withheld

 

Votes 
Abstained

 

Broker 
Non-Votes

Kendall R. Bishop

 

58,690,736

 

98.05

 

1,170,192

 

-0-

 

29,985,355

Jon Gacek

 

58,882,220

 

98.37

 

978,708

 

-0-

 

29,985,355

Kambiz Hooshmand

 

58,868,968

 

98.34

 

991,960

 

-0-

 

29,985,355

Mark Melliar-Smith

 

59,244,642

 

98.97

 

616,286

 

-0-

 

29,985,355

Richard M. Swanson

 

59,352,487

 

99.15

 

508,441

 

-0-

 

29,985,355

Richard J. Thompson

 

59,148,421

 

98.81

 

712,507

 

-0-

 

29,985,355

Jay Walters

 

59,017,268

 

98.59

 

843,660

 

-0-

 

29,985,355

 

Election of Preferred Stock Directors

 

 

 

Votes For

 

% of Voted 
Shares Voting 
For

 

Votes 
Withheld

 

Votes 
Abstained

 

Broker 
Non-Votes

Kyle Ryland

 

17,500,000

 

100%

 

-0-

 

-0-

 

-0-

Ajay Shah

 

17,500,000

 

100%

 

-0-

 

-0-

 

-0-

 

Proposal Two

Advisory Resolution on

Named Executive Officer Compensation

 

Votes For

 

% of Voted 
Shares
Voting
For

 

Votes 
Against

 

Votes 
Abstained

 

Broker
Non-Votes

53,185,415

 

68.75

 

23,993,413

 

182,100

 

29,985,355

 

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Proposal Three

Advisory Vote on Frequency of Future Advisory Votes on

Named Executive Officer Compensation

 

1 Year

 

% of Voted 
Shares Voting 
For 1 Year

 

2 Year

 

3 Year

 

Votes 
Abstained

 

Broker
Non-Votes

46,786,626

 

60.48

 

8,857,965

 

21,597,105

 

119,232

 

29,985,355

 

Proposal Four

Amendment and Restatement of

Power-One, Inc., 2004 Stock Incentive Plan

 

Votes For

 

% of Voted 
Shares 
Voting For

 

Votes 
Against

 

Votes 
Abstained

 

Broker
Non-Votes

71,682,252

 

92.66

 

5,442,574

 

236,102

 

29,985,355

 

Proposal Five

Ratification of the Appointment of

Independent Registered Public Accounting Firm

 

Votes For

 

% of Voted 
Shares Voting
For

 

Votes 
Against

 

Votes 
Abstained

 

Broker Non-
Votes

106,756,792

 

99.45

 

412,006

 

177,485

 

-0-

 

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SIGNATURES

 

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.

 

 

 

 

 

 

POWER-ONE, INC.

 

 

 

 

(Registrant)

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/GARY R. LARSEN

Date:

May 5, 2011

 

 

Gary R. Larsen

 

 

 

 

Senior Vice President — Finance and Chief
Financial Officer

 

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