UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 21, 2017
Commission file number: 0-22773
NETSOL TECHNOLOGIES, INC.
(Exact name of small business issuer as specified in its charter)
| NEVADA | | 95-4627685 |
| (State or other Jurisdiction of | | (I.R.S. Employer NO.) |
| Incorporation or Organization) | | |
24025 Calabasas Road, Suite 410, Calabasas, CA 91302
(Address of principal executive offices) (Zip Code)
(818) 222-9195 / (818) 222-9197
(Issuer's telephone/facsimile numbers, including area code)
Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 20, 2017, NetSol Technologies, Inc. (the "Company") convened its annual meeting of shareholders. The following proposals were submitted to a vote of security holders. Of the total issued and outstanding shares as of April 28, 2017, the record date, 85.90% or 9,562,234 shares voted in this election. Broker non-votes, which are voted in the ratification of appointment of auditors, are present for purposes of establishing a quorum, but are not considered voted in other proposals.
1. Election of Directors
The following persons were elected directors of the Company to hold office until the next Annual General Meeting of the Shareholders. A total of 5,974,626 shares of common stock cast votes. The following sets forth the tabulation of the shares voted for each director:
| Director | | For | | | Against | | | Abstain | | | % of Total Voted For | |
| Najeeb Ghauri | | | 5,241,944 | | | | 726,885 | | | | 5,797 | | | | 85 | % |
| Naeem Ghauri | | | 3,628,020 | | | | 2,340,809 | | | | 5,797 | | | | 60.78 | % |
| Shahid Burki | | | 3,650,934 | | | | 2,317,334 | | | | 6,358 | | | | 61.17 | % |
| Eugen Beckert | | | 3,674,846 | | | | 2,292,583 | | | | 7,197 | | | | 61.58 | % |
| Mark Caton | | | 3,599,166 | | | | 2,348,802 | | | | 26,658 | | | | 60.51 | % |
2. Ratification of Appointment of Auditors
Squar Milner LLP. was appointed as Auditors for the Company for the fiscal year ended June 30, 2017. Ratification of this appointment was sought in this proposal. The following sets forth the tabulation of the shares voting for this matter.
| Total Shares Voted | | | For | | | Against | | | Abstain | | | % of Total Voted in Favor | |
| | 9,562,234 | | | | 9,375,753 | | | | 177,647 | | | | 8,834 | | | | 98.145 | % |
3. Advisory Vote on the Compensation of the Named Executive Officers
The Company’s “say on pay” advisory vote was held seeking from shareholders, on an advisory basis, approval of overall compensation of the named executive officers. The following sets forth the tabulation of the shares voting for this matter.
| Total Shares Voted | | | For | | | Against | | | Abstain | | | % of Total Voted in Favor | |
| | 5,974,626 | | | | 2,987,889 | | | | 2,953,769 | | | | 32,968 | | | | 50.29 | % |
4. Advisory Vote on the Frequency of Executive Compensation Vote
The Company sought an advisory vote on the frequency of the Company’s “say on pay” advisory vote. The following sets forth the tabulation of the shares voting for this matter.
| Total Shares Voted | | | 1 year | | | 2 year | | | 3 year | | | Abstain | |
| | 5,974,626 | | | | 5,265,076 | | | | 23,310 | | | | 539,302 | | | | 149,938 | |
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | NETSOL TECHNOLOGIES, INC. |
| | |
| Date: June 21, 2017 | /s/ Najeeb Ghauri |
| | NAJEEB GHAURI |
| | Chief Executive Officer |
| | |
| Date: June 21, 2017 | /s/ Roger K. Almond |
| | ROGER K. ALMOND |
| | Chief Financial Officer |
