Nikola Announces Adjournment of Annual Meeting of Stockholders

Rhea-AI Summary

Nikola Corporation (Nasdaq: NKLA) has adjourned its 2022 annual meeting of stockholders to June 30, 2022, at 9:00 a.m. Pacific Time. Stockholders of record as of April 4, 2022 who have not voted are encouraged to do so by June 29, 2022. A quorum was present, with about 65% of shares represented, resulting in the approval of some proposals, including director elections and compensation votes. However, Proposal 2, which seeks to increase the authorized number of shares, has only 42% support and requires a majority of all outstanding shares for approval.

Positive

• A quorum was present with approximately 65% of shares voted.
• Proposal 1 (Election of Directors), Proposal 3 (Advisory Vote on Executive Compensation), and Proposal 4 (Ratification of Accounting Firm) were approved.

Negative

• Proposal 2 (Increase Authorized Shares) received only 42% support and failed to meet the majority requirement.

• Meeting adjourned to June 30, 2022, at 9:00 a.m., Pacific Time
• Nikola encourages all stockholders of record at the close of business on April 4, 2022 who have not yet voted, to vote by 11:59 p.m., Eastern Time on June 29, 2022

PHOENIX, June 1, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), today announced that its 2022 annual meeting of stockholders has been adjourned to June 30, 2022, at 9:00 a.m., Pacific Time, with respect to all proposals described in Nikola's definitive proxy statement filed with the U.S. Securities and Exchange Commission on April 20, 2022. The record date for the adjourned annual meeting continues to be April 4, 2022. 

Stockholders who have previously submitted a proxy or otherwise voted do not need to take any action and all previously submitted proxies will be voted at the adjourned annual meeting unless properly revoked.  

The adjourned annual meeting will continue to be held at www.virtualshareholdermeeting.com/NKLA2022 via live audio webcast. 

At the time the annual meeting adjourned, proxies were submitted by stockholders representing approximately 65% of the shares of Nikola's common stock outstanding and entitled to vote, and a quorum was present.  The requisite number of votes were received to approve Proposal 1, Election of Directors, Proposal 3, Non-binding Advisory Vote on Compensation of Named Executive Officers, and Proposal 4, Ratification of Appointment of Independent Registered Public Accounting Firm. With respect to Proposal 1, the nine nominees receiving the most affirmative "FOR" votes will be elected, and Proposals 3 and 4, only require a majority of the voting power present or represented by proxy at the annual meeting to pass. 

Proposal 2, Amendment to the Second Amended and Restated Certificate of Incorporation to Increase the Authorized Number of Shares of Common Stock, requires a majority of all outstanding common stock for approval.  Approximately 64% of shares voted to date have been voted in favor of Proposal 2.  At this time, that constitutes approximately 42% of all outstanding shares of common stock, which is insufficient for this proposal to be approved.

Nikola's Board of Directors believes that all proposals submitted are in the best interests of stockholders and will continue to solicit votes from stockholders during the adjournment.

To vote, please contact our proxy solicitor, Alliance Advisors, toll free at: 855-935-2562, or your broker.

Nikola encourages all stockholders of record at the close of business on April 4, 2022, who have not yet voted, to vote by 11:59 p.m., Eastern Time on June 29, 2022.

About Nikola Corporation

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

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SOURCE Nikola Corporation

FAQ

When is the adjourned annual meeting of Nikola Corporation?

The adjourned annual meeting of Nikola Corporation will take place on June 30, 2022, at 9:00 a.m. Pacific Time.

What is the record date for the Nikola Corporation annual meeting?

The record date for the annual meeting is April 4, 2022.

What proposals were approved at Nikola's annual meeting?

At the meeting, Proposal 1 (Election of Directors), Proposal 3 (Advisory Vote on Executive Compensation), and Proposal 4 (Ratification of Accounting Firm) were approved.

What is the status of Proposal 2 at Nikola's annual meeting?

Proposal 2, seeking to increase the authorized number of shares, has received only 42% support and requires a majority of all outstanding shares to be approved.

How can stockholders vote for Nikola's proposals?

Stockholders who have not yet voted are encouraged to do so by June 29, 2022, at 11:59 p.m. Eastern Time.