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Charles lvard : & COLVARD LTD : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits (form 8-K)

05/21/2015 | 04:22pm US/Eastern

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.



On May 20, 2015, the shareholders of Charles & Colvard, Ltd. (the "Company") approved an amendment to the Company's 2008 Stock Incentive Plan (the "Plan"). The Plan was amended to increase the number of shares that may be issued under the Plan by 1,500,000 shares.

The terms of the Plan are set forth under the caption "Proposal No. 2-Approval of Amendment to the Charles & Colvard, Ltd. 2008 Stock Incentive Plan" in the Company's definitive proxy statement for the Company's 2015 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on April 22, 2015 (the "Proxy Statement"). Such description is incorporated herein by reference and is qualified in its entirety by reference to the Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

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

The Company held its Annual Meeting of Shareholders on May 20, 2015. The shareholders considered four proposals, each of which is described in more detail in the Proxy Statement.

Proposal 1: To elect five nominees described in the Proxy Statement to the Company's Board of Directors. The votes were cast as follows:



                                    For         Withheld       Broker Non-Votes
         Neal I. Goldman          7,922,930       592,277              8,385,576
         H. Marvin Beasley        7,634,795       880,412              8,385,576
         Anne M. Butler           7,757,636       757,571              8,385,576
         George R. Cattermole     7,920,191       595,016              8,385,576
         Ollin B. Sykes           7,916,083       599,124              8,385,576



All director nominees were duly elected.

Proposal 2: To approve an amendment to the Charles & Colvard, Ltd. 2008 Stock Incentive Plan to increase the number of shares authorized for issuance under the plan by 1,500,000 shares.



                     For       Against    Abstain   Broker Non-Votes
                  5,476,841   2,733,261   305,105      8,385,576




Proposal 2 was approved.


Proposal 3: To ratify the appointment of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2015. The votes were cast as follows:



                              For       Against   Abstain
                           16,466,591   171,600   262,592




Proposal 3 was approved.

Proposal 4: To vote, on an advisory (nonbinding) basis, to approve executive compensation. The votes were cast as follows:



                      For      Against   Abstain   Broker Non-Votes
                   7,417,372   669,628   428,207      8,385,576




Proposal 4 was approved.


Item 9.01 Financial Statements and Exhibits.




(d)  Exhibits



Exhibit No.   Description of Document

10.1          Charles & Colvard, Ltd. 2008 Stock Incentive Plan, as amended

© Edgar Online, source Glimpses

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