Black Diamond Inc. has another year to appoint another independent director to its board or risk losing its listing on the NASDAQ following shareholders' election last week of six company nominated directors.
The company disclosed April 30 that it was only nominating six directors because it had not yet found a suitable seventh director.
Black Diamond disclosed Wednesday June 11 that it received a letter from NASDAQ June 6 informing it that it was no longer in compliance and has until the earlier of its next annual shareholder meeting or June 5, 2015 to prove it has come into compliance with its independent director requirements.
The six directors elected at Black Diamond's annual meeting and the votes they received were:
Robert R. Schiller 18,654,112 3,118,343 3,607,669
Peter Metcalf 20,520,411 1,252,044 3,607,669
Donald L. House 20,436,611 1,335,844 3,607,669
Nicholas Sokolow 19,637,370 2,135,085 3,607,669
Michael Henning 20,218,874 1,553,581 3,607,669
Kander is Black Diamond's largest shareholder and executive chairman, Schiller its third largest shareholder and executive vice chairman and Metcalf its president and CEO.