CarParts.com (NASDAQ:PRTS) stockholders approved all proposals presented at the company’s 2026 annual meeting, including a reverse stock split authorization, a new stock incentive plan, the election of a director and the ratification of the company’s independent auditor.
The meeting was called to order at 9:00 a.m. Pacific Time by Mark DiSiena, the company’s interim chief financial officer, who presided over the meeting and served as inspector of elections. DiSiena said 46,916,016 shares of CarParts.com common stock were represented by proxy, equal to 64.46% of shares entitled to vote as of the March 13, 2026, record date. He determined that a quorum was present.
Nanxi Liu Elected to Board Term Through 2029
Stockholders elected Nanxi Liu as a Class II director for a three-year term expiring at the 2029 annual meeting of stockholders. DiSiena said the company’s board of directors and its nominating and corporate governance committee supported Liu’s election.
According to the preliminary report of the inspector of elections, Liu was elected after the nomination was made and seconded during the meeting. No stockholders present requested to vote by ballot after DiSiena said those who had already submitted proxy cards did not need to vote again unless they wished to change their vote.
Auditor Ratified and Incentive Plan Approved
Stockholders also ratified the appointment of RSM US LLP as CarParts.com’s independent registered public accounting firm for the 2026 fiscal year, which ends Jan. 2, 2027.
In addition, stockholders approved and adopted the CarParts.com, Inc. 2026 Stock Incentive Plan. The transcript did not include details on the number of shares covered by the plan or other plan terms beyond the proposal’s approval.
Reverse Stock Split Authorization Passes
One of the key items approved at the meeting was an amendment to the company’s certificate of incorporation to effect a reverse stock split of CarParts.com common stock. The approved proposal authorizes a reverse split at a ratio between 1-for-5 and 1-for-20, with the final ratio and timing left to the discretion of the board of directors.
The transcript did not state when the board may implement the reverse stock split or what specific ratio it may choose within the approved range.
Executive Compensation Approved in Advisory Vote
Stockholders approved, on an advisory non-binding basis, the compensation of the company’s named executive officers as disclosed in the proxy statement. DiSiena said the board had recommended approval of the executive compensation proposal.
After the preliminary voting results were announced, DiSiena asked whether any stockholders present had questions. No questions were raised. The meeting was then adjourned after a motion and second.
About CarParts.com (NASDAQ:PRTS)
CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.
Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.
