Anterix shareholders approve director slate and stock plan amendment at annual meeting

Anterix Inc. (NASDAQ:ATEX) reported that shareholders approved all proposals presented at the company’s annual meeting held virtually on Tuesday. The information is based on a press release statement included in the company’s SEC filing.

Shareholders elected seven directors—Jeffrey A. Altman, Leslie B. Daniels, Mark A. Fleischhauer, William E. Heard, Thomas R. Kuhn, Scott A. Lang, and Mahvash Yazdi—to serve until the 2027 annual meeting. Each nominee received more votes in favor than against, with “for” votes ranging from approximately 13.0 million to 14.6 million.

A quorum of 17,347,869 shares, representing about 90.06% of eligible common stock, was present either in person or by proxy out of 19,261,270 shares outstanding as of the record date.

Shareholders approved, on an advisory basis, the compensation of the company’s named executive officers. The vote tally was 14,641,617 in favor, 15,894 against, and 1,847 abstentions, with 2,688,511 broker non-votes.

The meeting also included a vote on Amendment No. 2 to the Anterix Inc. 2023 Stock Plan, which increases the number of common shares available for issuance by 1.0 million. The amendment was approved, with 13,558,280 votes for, 1,099,125 against, and 1,953 abstentions, along with 2,688,511 broker non-votes.InvestingPro Tips highlight that Anterix holds more cash than debt on its balance sheet and maintains liquid assets exceeding short-term obligations, contributing to its "GOOD" financial health rating. The company recently achieved profitability with earnings per share of $4.83. Subscribers have access to 11 additional ProTips and comprehensive Pro Research Reports covering over 1,400 US equities.

Shareholders voted in favor of holding future advisory votes on executive compensation every year. The breakdown was 14,425,357 for “1 year,” 12,775 for “2 years,” 219,765 for “3 years,” and 1,461 abstentions. There were 2,688,511 broker non-votes.

Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2027. The vote was 17,331,529 in favor, 618 against, and 15,722 abstentions.

No other items were presented for stockholder approval at the meeting.

In other recent news, Anterix Inc. reported fiscal fourth-quarter 2026 earnings that exceeded Wall Street expectations. The company achieved earnings of $0.98 per share, surpassing the anticipated loss of $0.54 per share. Revenue also outperformed estimates, reaching $1.96 million compared to the projected $1.47 million. These results were bolstered by spectrum monetization, improved cash collection, and early success in new products. In addition, Clear Street has initiated coverage on Anterix with a Buy rating and set a price target of $161.00. The firm highlighted the increasing demand on the utility grid from AI data centers, electric vehicle electrification, and wildfire hardening as significant growth drivers. Anterix’s 10 MHz band of spectrum is seen as pivotal for deploying private LTE networks to enhance grid reliability and resilience. These developments reflect the company’s strategic positioning in the evolving utility sector.