Item 5.07 Submission of Matters to a Vote of Security Holders At our Annual Meeting of Stockholders held on December 13, 2013 , the stockholders of ITEX Corporation voted as follows on the matters presented for a vote. 1. The nominees for election to the Board of Directors were elected to hold office until the 2014 annual meeting of shareholders and until their successors are duly elected and qualified, based upon the following votes: Nominee Votes For Votes Withheld Broker Non-Votes Eric Best 1,220,516 34,334 1,314,064 Kevin Callan 1,220,516 34,334 1,314,064 Timothy Morones 1,220,516 34,334 1,314,064 John A. Wade 1,220,516 34,334 1,314,064 Steven White 1,220,516 34,334 1,314,064 2. The proposal to approve, on a non-binding advisory basis, the compensation paid by ITEX to its named executive officers was approved based on the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 1,201,914 50,582 2,354 1,314,064 3. The proposal to select, on a non-binding advisory basis, the preferred frequency (whether every 1 year, 2 years, or 3 years) for the advisory vote on executive officer compensation received the following votes: 1 Year 2 Years 3 Years Votes Abstained 362,473 2,429 888,738 1,210 4. The proposal to approve the 2014 Equity Incentive Plan was approved based on the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 1,007,510 116,606 130,734 1,314,064 5. The proposal to approve an extension of the Stockholder Rights Plan was approved based on the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 1,012,584 112,252 130,014 1,314,064 6. The proposal to ratify the appointment of Ehrhardt Keefe Steiner & Hottman PC as our independent registered public accounting firm for fiscal year 2014 was approved based on the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 2,557,806 10,043 1,065 -- In connection with the Annual Meeting, the Board of Directors recommended that stockholders select every one year as the preferred frequency for the advisory vote on named executive officer compensation. However, a majority of the shares that voted at the Annual Meeting on the frequency of future advisory votes on executive compensation voted for the Company to hold such advisory votes every three years. Following the Annual Meeting, in light of the outcome of the stockholder vote and other relevant factors, the Board of Directors determined that the frequency favored by stockholders would be adopted as the Company's frequency, and adopted a resolution providing that a non-binding, advisory vote on named executive officer compensation would be held every three years.
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