Item 5.07
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Submission of Matters to a Vote of Security Holders
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On July 8th, 2021, ORBCOMM Inc. (the Company or ORBCOMM) held a special meeting of stockholders (the
Special Meeting) in connection with its previously announced business combination (the Business Combination) with GI DI Orion Acquisition Inc, a Delaware corporation (Parent or
Orion), pursuant to that certain Agreement and Plan of Merger, dated as of April 7, 2021 (as amended, modified or supplemented from time to time, the Merger Agreement) by and among the Company, Parent, and
GI DI Orion Merger Sub Inc, a Delaware corporation and wholly owned subsidiary of Parent (Merger Sub).
At the
Special Meeting, the Companys stockholders voted on the proposals set forth below, each of which is described in greater detail in the proxy statement filed by the Company with the Securities and Exchange Commission (SEC) on
May 27, 2021 (the Proxy Statement). At the Special Meeting, there were 54,610,902 shares voted by proxy or in person, and each of the proposals was approved by the stockholders.
The final voting results for each of the proposals submitted for shareholder vote at the Special Meeting are set forth below:
Proposal 1: vote to adopt the Merger Agreement, pursuant to which, subject to the terms and conditions set forth in the Merger Agreement,
Merger Sub will merge with and into the Company (the Merger), with the Company continuing as the surviving corporation and as a wholly-owned subsidiary of Parent. The number of votes cast with respect to this matter was as follows:
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Votes For
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Votes Against
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Abstentions
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Broker
Non-Votes
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54,146,889
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371,946
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92,067
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0
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Proposal 2: vote to approve, on an advisory (non-binding) basis,
certain compensation that may be paid or become payable to the Companys named executive officers in connection with the Merger. The number of votes cast with respect to this matter was as follows:
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Votes For
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Votes Against
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Abstentions
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Broker
Non-Votes
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51,388,095
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2,953,261
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269,267
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0
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Proposal 3: vote to approve the adjournment of the special meeting, if necessary or appropriate, including to
solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the proposal to adopt the Merger Agreement or in the absence of a quorum. The number of votes cast with respect to this matter was as follows:
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Votes For
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Votes Against
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Abstentions
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Broker
Non-Votes
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50,134,221
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4,376,908
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99,773
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0
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2