OKLAHOMA CITY, June 13, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") held its 2013 Annual Meeting of Stockholders today. The proposals considered at the Annual Meeting are described in detail in Gulfport's definitive proxy statement for the Annual Meeting as filed with the Securities and Exchange Commission (the "SEC") on April 30, 2013, as supplemented by additional definitive proxy soliciting materials filed with the SEC on June 7, 2013 (together, the "Proxy"). As of April 23, 2013, the record date, 77,375,107 shares of common stock were outstanding and entitled to vote at the 2013 Annual Meeting, excluding 389,110 shares of Gulfport's restricted common stock granted under its Amended and Restated 2005 Stock Incentive Plan but not yet vested.
At today's Annual Meeting, Gulfport's stockholders voted and approved the following proposals found in the Proxy: (i) Proposal 1 to elect the nominated directors, (ii) Proposal 3 to approve Gulfport's 2013 Restated Stock Incentive Plan, (iii) Proposal 4 to approve, on an advisory basis, the compensation paid to Gulfport's named executive officers as reported in the Proxy and (iv) Proposal 5 to ratify Grant Thornton LLP as Gulfport's independent auditors for 2013. Gulfport considered the recommendation from the proxy advisory firm Institutional Shareholder Services ("ISS") and the preliminary stockholder vote received by Gulfport on Proposal 2 found in the Proxy and determined to revise Proposal 2 consistent with ISS' recommendation so that Proposal 2 will now provide for an amendment to Gulfport's restated certificate of incorporation to increase the total number of authorized shares of common stock from 100 million to 200 million, rather than 250 million, as was initially contemplated by Proposal 2.
Due to the foregoing, Gulfport's 2013 Annual Meeting was adjourned with respect to Proposal 2 to solicit stockholders' votes on the revised Proposal 2. The 2013 Annual Meeting will reconvene on July 18, 2013 at 10 a.m. at Gulfport's corporate offices located at 14313 N. May Avenue, Suite 100, Oklahoma City, Oklahoma 73134 for the purpose of holding a stockholder vote on the revised Proposal 2. The charter amendment to increase the authorized shares of common stock requires the affirmative "FOR" vote of a majority of the outstanding shares of Gulfport's common stock entitled to vote thereon. Abstentions will have the same effect as negative votes in determining whether this proposal was approved by the stockholders. Broker non-votes will not be counted for voting purposes and will have no effect on the result of the vote on this proposal.
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