Friedman Industries Reports Annual Meeting Results; Directors Re-elected

What Happened

• Friedman Industries, Incorporated (FRD) held its Annual Meeting of Shareholders on September 22, 2026 and filed the results on Form 8-K. All six board nominees were elected to serve until the next annual meeting. Vote totals for each nominee were:
  • Michael J. Taylor — For: 4,140,946; Withheld: 13,436
  • Michael Hanson — For: 4,124,235; Withheld: 30,147
  • Max Reichenthal — For: 4,131,049; Withheld: 23,333
  • Sandy Scott — For: 3,656,017; Withheld: 498,365
  • Sharon Taylor — For: 4,130,782; Withheld: 23,600
  • Joe L. Williams — For: 3,743,795; Withheld: 410,587

Key Details

• Shareholder advisory vote on executive compensation (say-on-pay): For 4,034,540; Against 98,253; Abstain 21,589 (non-binding).
• Auditor ratification: Shareholders ratified Baker Tilly US, LLP as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2027 — For 5,946,451; Against 4,927; Abstain 3,076.
• Proposed amendment to the Articles of Incorporation to allow shareholders to amend the Bylaws was not approved (did not receive the required two-thirds affirmative vote): For 4,090,173; Against 58,200; Abstain 6,009.

Why It Matters

• The board composition remains as nominated, which preserves the current leadership and governance direction. Vote totals show generally strong support for most directors, with notably higher withheld votes for Sandy Scott and Joe L. Williams.
• The advisory approval of executive compensation carried by a large margin (non-binding), and the auditor selection was overwhelmingly ratified — both reduce near-term governance uncertainty.
• The failed bylaw amendment means shareholders will not gain the proposed formal ability to amend the company’s Bylaws; authority to change bylaws remains subject to the company’s existing governance processes.