Voltaire Ltd. (VOLT), a provider of server and storage switching and software solutions, on Tuesday announced the results of its annual shareholders meeting held on June 30.
The shareholders approved that election of Yoram Oron, Nechemia (Chemi) Peres and Eric Benhamou as Class I directors, each to serve for a three-year term.
The shareholders also approved the terms of a new compensation package with the company's chief executive officer and chairman of the board, Miron (Ronnie) Kenneth.
The shareholders approved the grant of options to Kenneth to purchase 100,000 ordinary shares of the company under its 2007 incentive compensation plan at an exercise price equal to the closing price of the company's ordinary shares on the grant date.
Further, the company said that its stockholders approved the increase in the number of shares reserved for issuance under the company's 2007 incentive compensation plan by 400,000 shares.
An amendment to the company's non-employee director compensation plan was also approved at the annual meeting.
The stockholders also ratified the reappointment of Kesselman & Kesselman, a member of PricewaterhouseCoopers International Ltd., as the company's independent registered public accounting firm for the year ending December 31, 2008 and until the 2009 annual meeting of shareholders.
The company's board was also authorized, upon recommendation of the audit committee, to determine the annual compensation for Kesselman & Kesselman.
VOLT is currently trading at $4.80, down 17 cents or 3.42%.
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