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): September 1, 2011
VALENCE TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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0-20028
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77-0214673
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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12303 Technology Boulevard,
Suite 950
Austin, Texas 78727
(Address of principal executive offices)
(512) 527-2900
(Registrant’s telephone number, including area code)
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:
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.07 Submission of Matters to a Vote of Security Holders.
(a) Valence Technology, Inc. (the “Company”) held its 2011 Annual Meeting of Stockholders (“2011 Annual Meeting”) on September 1, 2011. At the 2011 Annual Meeting, the company's stockholders voted on the four proposals identified below.
(b) The final voting results with respect to each proposal voted upon at the 2011 Annual Meeting are set forth below.
Proposal 1: Election of Directors
At the 2011 Annual Meeting, the stockholders elected each of the following nominees as directors, to serve on the Company’s Board of Directors until the 2012 Annual Meeting of Stockholders or until their successors are duly elected and qualified. The vote for each director was as follows:
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Total Votes
FOR
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Total Votes
WITHHELD
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Total Broker
Non-Votes
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||||
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Carl E. Berg
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97,735,693
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1,491,079
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18,894,067
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Robert L. Kanode
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97,586,533
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1,640,239
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18,894,067
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Vassilis G. Keramidas
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98,422,623
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804,149
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18,894,067
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Bert C. Roberts, Jr.
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98,415,643
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811,129
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18,894,067
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Donn V. Tognazzini
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98,419,698
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807,074
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18,894,067
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Proposal 2: Ratification of Independent Auditor
At the 2011 Annual Meeting, the stockholders voted to ratify the appointment of PMB Helin Donovan, LLP as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2012 and cast their votes as follows:
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Total Votes
FOR
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Total Votes
WITHHELD
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Total Votes
ABSTAINING
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Total Broker
Non-Votes
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117,503,717
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211,070
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406,052
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0
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Proposal 3: Proposal to Approve the Compensation of our Named Executives on an Advisory (non-binding) Basis.
At the 2011 Annual Meeting, the stockholders voted to approve the compensation of our named executives on an advisory (non-binding) basis and cast their votes as follows:
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Total Votes
FOR
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Total Votes
WITHHELD
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Total Votes
ABSTAINING
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Total Broker
Non-Votes
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97,815,285
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881,209
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530,278
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18,894,067
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Proposal 4: Proposal to Approve the Frequency of Holding an Advisory Vote on Compensation of our Named Executives on an Advisory (non-binding) Basis.
At the 2011 Annual Meeting, the stockholders voted on the frequency of holding a vote on the compensation of our named executives on an advisory (non-binding) basis and cast their votes as follows:
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Total Votes
1 Year
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Total Votes
2 Years
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Total Votes
3 Years
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Abstain
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|||
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16,199,765
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502,751
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82,100,183
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424,073
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Based on this non-binding stockholder vote, our Board of Directors has determined to conduct a stockholder vote on executive compensation every three years.
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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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VALENCE TECHNOLOGY, INC.
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Dated: September 7, 2011
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By:
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/s/ Donald E. Gottschalk
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Donald E. Gottschalk
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Acting Chief Financial Officer
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