Common Stock Info
As a result of the recent recapitalization process, each outstanding share of Class A Common Stock has been reclassified into one Common Share, and each outstanding share of Class B has been reclassified into one Common Share with no changes to the shareholder’s equity.
Trade on the NASDAQ Stock Market is now identified under the symbol TECU. This recapitalization has resulted in one class of authorized stock, entitled Common Shares. There are 100,000,000 Common shares authorized with 18,479,684 Common Shares issued.
Description of Common Stock
Each Common Share is entitled to one vote. In general, approval of matters submitted to a vote, other than the election of directors, will require a majority of the votes cast by the record holders of shares entitled to vote on the action, unless a greater vote is required in the articles of incorporation or by the Michigan Business Corporation Act; and directors will be elected by a plurality of the Common Shares voted. Further details regarding actions surrounding stock shares can be found in the 2014 Annual Proxy / Prospectus.