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): February 21, 2013

 

 

PORTSMOUTH SQUARE, INC.

(Exact name of registrant as specified in its charter)

 

 

California 0-4057 94-1674111
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)

 

 

10940 Wilshire Blvd., Suite 2150, Los Angeles, CA 90024
(Address of principal executive offices) (Zip Code)

 

 

Registrant’s telephone number, including area code: (310) 889-2500

 

 

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 (see General Instruction A.2. below):

 

¨ 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 240.13e-4(c))

 

 
 

 

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

 

The Fiscal 2012 Annual Meeting of the Shareholders of Portsmouth Square, Inc. (the “Company”) was held on February 21, 2013 at the Hilton San Francisco Financial District, 750 Kearny Street, San Francisco, California. At that meeting, all of management’s nominees: John V. Winfield, Jerold R. Babin, Josef A. Grunwald, John C. Love and William J. Nance, were elected as Directors of the Company to serve until the next Annual Meeting. At the Annual Meeting, the shareholders also voted in favor of the ratification of the Audit Committee’s selection of Burr Pilger Mayer, Inc. as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2013. The final tabulation of the votes follows:

 

Proposal (1) – Election of Directors:

 

Nominee   For   Withheld   Broker Non Votes
             
John V. Winfield   679,713   1,000   20,173
Jerold R. Babin   672,869   7,844   20,173
Josef A. Grunwald   679,713   1,000   20,173
John C. Love   679,713   1,000   20,173
William J. Nance   679,713   1,000   20,173
             

 

 

Proposal (2) – Ratification of the Appointment of Burr Pilger Mayer, Inc. as The Company’s Independent Registered Public Accounting Firm
                        for the fiscal year ending June 30 2013:

 

Votes For   Against   Abstain   Broker Non Votes
             
700,886   0   0   -
             

 

 

No advisory vote on executive compensation was had at the Company’s Fiscal 2012 Annual Meeting. At its Fiscal 2010 Annual Meeting of Shareholders held on February 24, 2011, the Company submitted to its shareholders two proposals regarding executive compensation. The first proposal to approve, in a non-binding vote, the compensation of the Company’s named executive officers was approved by the shareholders, having received more than 98% of the shares voted at the meeting in favor of the proposal. The second proposal was to determine, in a non-binding vote, whether a shareholder advisory vote to approve the compensation of the Company’s executive officers should occur every one, two or three years. The shareholders overwhelmingly voted in favor of three years as the frequency in which the Company should have an advisory vote on executive compensation with more than 98% percent of the shares voted at the meeting being in favor of three years. The Board of Directors has considered the guidance provided by these advisory votes and has set three years as the frequency in which it will have a non-binding vote on executive compensation.

 

 

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.

 

 

  PORTSMOUTH SQUARE, INC.
   
Dated: February 22, 2013 By:  /s/ Michael G. Zybala
    Michael G. Zybala, Vice President,
Secretary & General Counsel

 

 

 

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