Item 5.07 - Submission of Matters to the Vote of Security Holders
On December 7, 2022, the Annual Meeting of Stockholders of Income Opportunity
Realty Investors, Inc. ("IOR" 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 7, 2022, distributed in accordance with
the requirements of Regulation 14A under the Securities Exchange Act of 1934, as
amended. On the record date of November 4, 2022, 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 3,972,412 shares (95.3% 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, approximately 74% of the shares are held in DTC/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:
No. of Votes Of Shares No. of Votes No. of Broker Non-
Name For Voted, % For Withheld Votes Votes
Abstained
Henry A. Butler 3,689,561 92.79% 109,632 - 173,219
Robert A. Jakuszewski 3,676,987 92.47% 122,206 - 173,219
Ted R. Munselle 3,687,808 92.74% 144,385 - 173,219
Raymond D. Roberts, Sr. 3,685,611 92.69% 113,582 - 173,219
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, 2022,
and any interim period. A total of 3,882,957 votes were cast FOR, 79,987 votes
were cast AGAINST, and 9,468 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 8, 2022. At such meeting, Henry A. Butler was reelected Chairman of the
Board.
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