Tag Archives: Matt Goldfarb

Xinergy shareholders say ‘no’ to CEO stock options

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Xinergy shareholders on Wednesday endorsed management’s
nominees for the company’s board of directors, but defeated resolutions that
would have awarded CEO Matt Goldfarb options to buy more than a half-million
shares of company stock.

Goldfarb easily held onto his  board seat, but the 32.1 percent of
shareholder votes withheld from the CEO were easily the largest such “no” votes
for director candidates, according to a news release.

Directors Stephen Loukas and Jay Thornton were relected with
votes at 21.7 percent and 18 percent of withheld votes, respectively.

Two separate resolutions that would have given Goldfarb
stock options were rejected by shareholders.

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Tough 1Q produces opposite results for Knox energy companies

Oil and gas

A pair of Knoxville based energy companies this week both reported
decreased sales in the first quarter, but one still scratched out a profit
while the other swung to a loss.

Oil company Tengasco reported a profit of $978,000, or 2
cents per share, while coal producer Xinergy said it lost $1.9 million, or 3
cents per share.

Tengasco’s earnings for the first three months of 2012 were a
slight improvement from a profit of $954,000, or 2 cents per share in the same
period a year ago.

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