Item 5.07 - Submission of Matters to
the Vote of Security Holders
On December 16, 2020, the Annual Meeting of Stockholders of Income Opportunity Realty
Investors, Inc. (“IOT” or the “Issuer” or the “Registrant”) was held, following a solicitation of proxies,
pursuant to a Notice of Annual Meeting and related Proxy Statement, dated November 6, 2020,
distributed in accordance with the requirements of Regulation 14A under the Securities Exchange Act
of 1934, as amended. On the record date of November 6, 2020, a total of 4,168,214 shares of Common
Stock were outstanding, with each share entitled to cast one vote.
At the meeting, proxies representing at least 3,797,318 shares (91.1% of the outstanding)
appeared and were cast, thereby establishing a quorum present in person or by proxy. It was noted that,
of the 4,168,214 outstanding shares of common stock, 3,377,582 shares are held in CEDE accounts.
At the Annual Meeting, which involved the election of directors, the following named persons
received the number of votes cast for, against, or withheld, as well as the number of abstention and
broker non-votes:
|
Name
|
# Votes For
|
% For
|
# Votes Withheld
|
# Votes Abstained
|
Broker Non-votes
|
|
Henry A. Butler
|
3,715,395
|
89,14%
|
67,430
|
-
|
14,493
|
|
Robert A. Jakuszewski
|
3,714,264
|
89.12%
|
68,061
|
-
|
14,493
|
|
Ted R. Munselle
|
3,715,437
|
89.14%
|
67,388
|
-
|
14,493
|
|
Raymond D. Roberts, Sr.
|
3,714,704
|
89.12%
|
68,121
|
-
|
14,493
|
All of the nominees named above, each of which is currently a director of the Registrant, were elected
at such Annual Meeting.
The only other matter presented at the Annual Meeting was the ratification of the appointment
of Swalm & Associates, P.C. as the independent registered public accounting firm for the Registrant for
the fiscal year ending December 31, 2020, and any interim period. A total of 3,781,888 votes were cast
FOR, 602 votes were cast AGAINST, and 14,828 votes ABSTAINED from voting with respect to such
proposal. There were no broker non-votes.
The Annual Meeting of the Board of Directors was held on the following day, December 17,
2020. At such meeting, Henry A. Butler was reelected Chairman of the Board.