Item 5.07. Submission of Matters to a Vote of Security Holders.
On June 30, 2020, Black Creek Industrial REIT IV Inc. (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”). Of the 111,856,950 shares of common stock issued and outstanding as of the close of business on April 8, 2020, the record date for the Annual Meeting, that were eligible to vote, 78,940,185 shares of common stock (approximately 71%) were present or represented by proxy at the Annual Meeting. At the Annual Meeting, the Company’s stockholders considered four proposals, described below. The voting results with respect to each proposal are as follows:
Proposal No. 1. The stockholders approved the election of each of the six directors to serve on the board of directors of the Company until the 2021 annual meeting of stockholders and until their respective successors are duly elected and qualify:
With respect to this proposal, the Company received 19,098,953 broker non-votes for each of the six director nominees. Broker non-votes are counted as present for purposes of determining a quorum but do not count as votes cast for or withheld from a director nominee. A broker non-vote occurs when a broker holding shares of the Company’s common stock for a beneficial owner is present at the meeting, in person or by proxy, and entitled to vote, but does not vote on a particular proposal because the broker does not have discretionary voting power with respect to that item and has not received voting instructions from the beneficial owner. A broker non-vote is not an indication of how the beneficial owner would have voted; it simply means that the beneficial owner did not instruct the broker as to how to vote his or her shares.
Proposal No. 2. The stockholders approved the ratification of the appointment of KPMG LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020:
The Company did not receive any broker non-votes for this proposal because the brokers had discretionary voting power with respect to this proposal.
Proposal No. 3. The proposal to amend the Company’s charter to conform certain provisions to the wording used in the standards set forth in the Statement of Policy Regarding Real Estate Investment Trusts promulgated by the North American Securities Administrators Association, Inc. requires the affirmative vote of at least a majority of the Company's outstanding shares of common stock entitled to vote thereon in order to pass. Sufficient votes to pass this proposal had not been received at the time of the Annual Meeting. In accordance with the approval of Proposal 4 described below, the Company’s board of directors adjourned the Annual Meeting with respect to Proposal No. 3 in order to solicit additional proxies until Tuesday, August 4, 2020, at 10:00 am Mountain Daylight Time at the Company's principal executive offices, 518 Seventeenth St, Denver, Colorado 80202.
Proposal No. 4. The Company’s stockholders approved the proposal to permit the Company's board of directors to adjourn the Annual Meeting, if necessary, to solicit additional proxies in favor of any of the three proposals described above if there were not sufficient votes for any such proposal, as set forth below. As described above, the Annual Meeting has been adjourned with respect to Proposal 3 in order to solicit additional proxies.
