Item 5.07 Submission of Matters to Vote of Security Holders.
On June 21, 2022, South Dakota Soybean Processors, LLC ("the Company") held it 2021 Annual Meeting of Members in Volga, South Dakota. The primary purposes of the meeting were: (1) To receive the report of management on the business of the Company and the Company's audited financial statements for the fiscal year ended December 31, 2021; (2) To elect five members of the board of managers, one from each of the five geographical districts; (3) To approve amendments to our Operating Agreement; (4) To approve, on an advisory basis, the compensation of the Company's named executive officers ("Say-on-Pay"); and (5) To transact such other business as may properly come before the meeting and at any and adjournments thereof.
In the first proposal, the following persons were elected to the Company's board of managers:
District 1: Craig Converse
District 2: Robert Nelsen
District 3: Jeff Hanson
District 4: Ronald Welter
District 5: Ned Skinner
Messrs. Converse, Nelsen, Hanson and Skinner, each of whom ran unopposed in their respective districts, were elected by the following tally:
| | | | | | | | | | | | | | | | | | | | |
District | | Name | | For | | Abstain |
1 | | Craig Converse | | 91 | | 7 |
2 | | Robert Nelsen | | 105 | | 8 |
3 | | Jeff Hanson | | 87 | | 10 |
5 | | Ned Skinner | | 105 | | 15 |
In District 4, Ronald Welter was elected by the following tally:
Ronald Welter 43
Dale Hansen 37
Abstain 14
In the second proposal, the members voted in favor of the amendments to the Company's Operating Agreement to reduce the size of the board of managers and reduce and change the districts by the following tally:
For 321
Against 141
Abstain 71
In the third proposal, the members voted to endorse the compensation of the Company's named executive officer by the following tally:
For 278
Against 123
Abstain 130