Friedman Industries shareholders reject bylaw amendment at annual meeting

Friedman Industries, Incorporated reported on September 28, 2026, that shareholders rejected a proposal to amend the company's Articles of Incorporation during its annual meeting held on September 22, 2026. The amendment, which would have granted shareholders the ability to modify the company's Bylaws, failed to receive the required two-thirds majority of outstanding shares entitled to vote, according to the Form 8-K filed with the U.S. Securities and Exchange Commission. The vote tallied 4,090,173 shares in favor, 58,200 against, and 6,009 abstentions.

While the bylaw amendment was defeated, the board's six nominees were all elected to hold office until the next annual meeting. The board members elected were Michael J. Taylor, Michael Hanson, Max Reichenthal, Sandy Scott, Sharon Taylor, and Joe L. Williams. Voting results for each nominee showed significant support, with Michael J. Taylor receiving the highest vote count of 4,140,946 shares in favor against 13,436 withheld. Sandy Scott and Joe L. Williams received fewer votes in favor compared to the other nominees, with 3,656,017 and 3,743,795 shares respectively.

Shareholders also approved a non-binding advisory resolution regarding the compensation of the company's executive officers. The proxy statement disclosed the compensation of Named Executive Officers in accordance with U.S. Securities and Exchange Commission rules. The resolution received 4,034,540 votes in favor, 98,253 against, and 21,589 abstentions.

The meeting also included a vote to ratify the selection of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2027. This ratification passed with a substantial margin, receiving 5,946,451 votes in favor compared to only 4,927 against and 3,076 abstentions.

Friedman Industries is incorporated in Texas and trades on the Nasdaq Global Select Market under the symbol FRD. The company's principal executive offices are located in Longview, Texas. Alex LaRue, the company's Chief Financial Officer and Secretary and Treasurer, signed the report on behalf of Friedman Industries on September 28, 2026.