Reeds, Inc $REED; you read the Proxy, the crazy Preliminary Proxy, and the rationale for proxy access. You’ve seen the movie, where I explained the need for proxy access Now, don’t forget to vote! The annual meeting is December 20, 2013. According to ProxyVote.com, Internet voting is accepted up to 11:59 p.m. (ET) the day before the meeting/cut off date. That’s Thursday! Below are my proxy recommendations.
| Proposal(s) | CorpGov | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | DIRECTOR
| For All Except Selected Below
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| 2. | TO RATIFY THE APPOINTMENT OF WEINBERG & COMPANY, P.A. AS THE COMPANY’S REGISTERED INDEPENDENT PUBLIC ACCOUNTANTS FOR THE 2013 FISCAL YEAR. | For | ||||||||||||||||||||
| 3. | ADVISORY VOTE TO APPROVE THE COMPENSATION PAID TO THE COMPANY’S NAMED EXECUTIVE OFFICERS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012. | For | ||||||||||||||||||||
| 4. | ADVISORY VOTE ON HOW FREQUENTLY THE COMPANY SHOULD SEEK APPROVAL FROM ITS STOCKHOLDERS FOR THE COMPENSATION PAID TO ITS NAMED EXECUTIVE OFFICERS. | 1 Year | ||||||||||||||||||||
| 5. | TO CONSIDER A SHAREHOLDER PROPOSAL ENTITLED “PROXY ACCESS FOR SHAREHOLDERS.” | FOR |
Reeds makes great products but it does a poor job of distributing them. Members of the current board who have no investment in Reeds and who make a pittance for being directors should be replaced with fully invested directors who have an incentive to offer advice. They should also have relevant experience and connections to move the product. Our products should each be evaluated on a cost/benefit basis. Those with little potential should be dropped and new products with greater potential should be added.
For example, I drink a smoothie every morning with Reeds Culture Club Kombucha, chia and black sesame seeds, protein powder, spirulina, bananas, and a little frozen mango. Wouldn’t it be great to avoid all that mixing and to be able to just crack open a bottle of Reeds green power blast? Vote for proxy access and we can move our company forward into a brighter future.
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