Rekor Systems (NASDAQ:REKR) concluded its reconvened 2026 annual meeting of stockholders on Oct. 16 after previously adjourning meetings in May and September because a quorum was not present.
At the meeting, stockholders elected the company’s six board nominees, approved executive compensation on a non-binding advisory basis and ratified CBIZ CPAs, PC as Rekor’s independent registered public accounting firm for the year ending Dec. 31, 2026.
Quorum Achieved Under Amended Bylaws
Robert Berman, Rekor’s chairman, president and chief executive officer, said the annual meeting was originally convened on May 15, 2026, and adjourned for lack of a quorum. The meeting was reconvened on Sept. 11 and again adjourned for the same reason.
Before the Oct. 16 reconvened session, Rekor’s board amended the company’s bylaws on Oct. 6 to reduce the quorum threshold. The prior requirement called for a majority of shares entitled to vote to be represented in person or by proxy. Under the amended bylaws, holders of at least 40% of voting shares constitute a quorum.
James Raitt of American Election Services, LLC, the meeting’s inspector of election, reported that Rekor had 136.6 million shares outstanding and entitled to vote as of the March 25 record date. A total of 62.5 million shares, or 45.76% of outstanding voting shares, were represented at the meeting, exceeding the revised 40% threshold by approximately 7.9 million shares.
“A quorum is present,” Raitt said.
Six Directors Elected
Stockholders elected all six board nominees: Berman, Paul de Bary, Glenn Goord, David Hanlon, Steven Croxton and Andrew Meyers. Each director received affirmative votes representing a majority of votes cast for his election, according to the preliminary inspector’s report announced by outside counsel William Bruno of Crowell & Moring LLP.
The directors will serve until the company’s 2027 annual meeting of stockholders and until their successors are duly elected and qualified.
Berman said no other director nominations had been properly submitted under the company’s advance-notice bylaws.
Auditor and Executive Pay Proposals Approved
Stockholders also approved the ratification of CBIZ CPAs, PC as Rekor’s independent registered public accounting firm for 2026.
In addition, investors approved, on a non-binding advisory basis, the compensation of Rekor’s named executive officers as disclosed in the company’s proxy statement. The advisory vote included the company’s summary compensation table and related compensation discussion.
Bruno said both proposals received majority approval based on the preliminary report from the inspector of election.
Company to Report Final Results
During remarks while votes were tabulated, Berman did not provide additional business updates. He referred stockholders to Rekor’s second-quarter quarterly report and noted that the third quarter had ended, with the company’s third-quarter filing upcoming.
Rekor said it will report final voting results in a Current Report on Form 8-K within four business days. Berman then declared the 2026 annual meeting concluded and adjourned.
About Rekor Systems (NASDAQ:REKR)
Rekor Systems, Inc develops artificial intelligence and computer-vision technologies for roadway intelligence and public safety. Its software analyzes video and other sensor data to identify vehicles, license plates, roadway events and traffic patterns, helping government agencies and commercial organizations improve situational awareness and transportation management.
The company’s offerings include automated license plate recognition, vehicle identification and classification, traffic analytics, and tools for detecting incidents and suspicious activity.
