UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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Item 3.03 Material Modification to Rights of Security Holders.
To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On May 19, 2025, AYRO, Inc. (the “Company”) held its 2025 annual meeting of stockholders (the “Annual Meeting”). At the Company’s Annual Meeting, the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Share Increase Amendment”) to increase the number of authorized shares of common stock, par value $0.0001 per share, from 200,000,000 shares to 1,200,000,000 and to make a corresponding change to the number of authorized shares of the Company’s capital stock. Following the Annual Meeting, on May 23, 2025, the Company filed the Share Increase Amendment with the Secretary of State of the State of Delaware.
For more information about the Share Increase Amendment, see the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 11, 2025 (the “Proxy Statement”), the relevant portions of which are incorporated herein by reference. The information set forth herein is qualified in its entirety by reference to the complete text of the Share Increase Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On May 19, 2025, the Company held the Annual Meeting. As of the close of business on March 21, 2025, the record date for the Annual Meeting, there were (i) 8,541,466 shares of Common Stock outstanding and entitled to an aggregate of 8,541,466 votes, (ii) 50 shares of Series H-6 Convertible Preferred Stock, par value $0.0001 per share (“Series H-6 Preferred Stock”), outstanding and entitled to an aggregate of 115 votes, and (iii) 8,333 shares of Series H-7 Convertible Preferred Stock, par value $0.0001 per share (“Series H-7 Preferred Stock”), outstanding and entitled to an aggregate of 1,104,782 votes, in each case, on the proposals described below. Holders of the Company’s Common Stock, Series H-6 Preferred Stock and Series H-7 Preferred Stock with a total aggregate voting power of 4,095,989 votes were present in person or represented by proxy at the Annual Meeting.
At the Annual Meeting, the proposals set forth below were submitted to a vote of the Company’s stockholders. Each proposal is described in detail in the Company’s Proxy Statement. All proposals were approved by the Company’s stockholders. The final voting results are as follows:
1. | Election of six directors to serve on the Company’s board of directors for a term of one year or until their successors are elected and qualified, for which the following are nominees: Joshua Silverman, Wayne R. Walker, George Devlin, Sebastian Giordano, Zvi Joseph, and Greg Schiffman: |
Nominee | Votes For | Votes Withheld | Broker Non-Votes | |||||||||
Joshua Silverman | 1,941,096 | 119,080 | 2,035,813 | |||||||||
Wayne R. Walker | 1,944,195 | 115,981 | 2,035,813 | |||||||||
George Devlin | 1,944,015 | 116,161 | 2,035,813 | |||||||||
Sebastian Giordano | 1,894,388 | 165,788 | 2,035,813 | |||||||||
Zvi Joseph | 1,894,534 | 165,642 | 2,035,813 | |||||||||
Greg Schiffman | 1,883,128 | 177,048 | 2,035,813 |
2. | Approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of our authorized shares of Common Stock from 200,000,000 shares to 1,200,000,000 shares and to make a corresponding change to the number of authorized shares of capital stock: |
For | Against | Abstain | ||||||||
3,130,219 | 955,979 | 9,794 |
3. | Ratification of the appointment of CBIZ CPAs P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025: |
For | Against | Abstain | ||||||||
3,801,333 | 237,123 | 57,533 |
4. | Approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect, at the discretion of the Board but prior to the one-year anniversary of the date on which the reverse stock split is approved by the Company’s stockholders at the Annual Meeting, a reverse stock split of all of the outstanding shares of the Company’s Common Stock at a ratio in the range of 1-for-2 to 1-for-100, with such ratio to be determined by the Board in its discretion and included in a public announcement: |
For | Against | Abstain | ||||||||
3,390,164 | 682,849 | 22,976 |
5. | Approval of a proposal to adjourn the Annual Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of any one or more of the proposals presented at the Annual Meeting: |
For | Against | Abstain | ||||||||
3,283,060 | 683,153 | 129,776 |
The proposals described above were acted upon by the Company’s stockholders at the Annual Meeting and received a sufficient number of votes to be approved. For more information about the foregoing proposals, see the Proxy Statement, the relevant portions of which are incorporated herein by reference. The results reported above are final voting results. No other matters were considered or voted upon at the meeting.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description | |
3.1 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation of AYRO, Inc. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
AYRO, INC. | ||
Date: May 23, 2025 | By: | /s/ Joshua Silverman |
Joshua Silverman | ||
Executive Chairman |