# EDGAR Filing Document

**Accession Number:** 0001584691
**File Stem:** 0001584691-25-000011
**Filing Date:** 2025-8
**Character Count:** 34073
**Document Hash:** e752f0790394acc7fc337448a0dcb785
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001584691-25-000011.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001584691-25-000011

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Global Alpha Capital Management Ltd.
- **CENTRAL INDEX KEY:** 0001584691

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15606
- **FILM NUMBER:** 251261233

**BUSINESS ADDRESS:**
- **STREET 1:** 1800 MCGILL COLLEGE AVENUE
- **STREET 2:** SUITE 1300
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H3A 3J6
- **BUSINESS PHONE:** 514-490-2779

**MAIL ADDRESS:**
- **STREET 1:** 1800 MCGILL COLLEGE AVENUE
- **STREET 2:** SUITE 1300
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H3A 3J6

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001584691

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Global Alpha Capital Management Ltd.

**Address:** 1300 - 1800 MCGILL COLLEGE AVENUE, Montreal, A8 H3A 3J6

**Telephone number:** 514-490-2779

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-15606

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                         | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                       | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Verint Systems Inc.                    | 92343X100 | 07/10/2024     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 718432           |                0 | AGAINST     |                         718432           | AGAINST                     |  |
| Arcadium Lithium Plc                   | G0508H102 | 07/25/2024     | Advisory (non-binding) approval of named executive officer compensation.                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |      3.85554e+06 |            29579 | AGAINST     |                              3.85554e+06 | AGAINST                     |  |
| Arcadium Lithium Plc                   | G0508H102 | 07/25/2024     | Proposal to recommend by non-binding vote, the frequency of shareholder advisory vote on executive compensation.                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      3.85554e+06 |            29579 | ONE YEAR    |                              3.85554e+06 | FOR                         |  |
| Arcadium Lithium Plc                   | G0508H110 | 07/25/2024     | Advisory (non-binding) approval of named executive officer compensation.                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |      1.25888e+06 |                0 | AGAINST     |                              1.25888e+06 | AGAINST                     |  |
| Arcadium Lithium Plc                   | G0508H110 | 07/25/2024     | Proposal to recommend by non-binding vote, the frequency of shareholder advisory vote on executive compensation.                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      1.25888e+06 |                0 | ONE YEAR    |                              1.25888e+06 | FOR                         |  |
| Eagle Materials Inc.                   | 26969P108 | 08/01/2024     | Advisory resolution to approve the compensation of our named executive officers.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 100395           |                0 | AGAINST     |                         100395           | AGAINST                     |  |
| EnerSys                                | 29275Y102 | 08/01/2024     | An advisory vote to approve the compensation of EnerSys' named executive officers.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  20410           |                0 | AGAINST     |                          20410           | AGAINST                     |  |
| Primo Water Corporation                | 741623102 | 11/04/2024     | Non-binding advisory resolution to approve, on an advisory basis, the payment of certain compensation to certain of Primo Water's executive officers that will or may become payable by Primo Water to such executive officers in connection with the consummation of the Transaction. | SECTION 14A SAY-ON-PAY VOTES | 140760           |                0 | FOR         |                         140760           | FOR                         |  |
| Adtalem Global Education Inc.          | 00737L103 | 11/13/2024     | Say-on-pay: Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  51180           |                0 | FOR         |                          51180           | FOR                         |  |
| Stride, Inc.                           | 86333M108 | 12/05/2024     | Approval, on a non-binding advisory basis, of the compensation of the named executive officers of the Company;                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  41288           |                0 | FOR         |                          41288           | FOR                         |  |
| Digi International Inc.                | 253798102 | 02/03/2025     | Company proposal to approve, on a non-binding advisory basis, the compensation paid to named executive officers.                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 394900           |                0 | AGAINST     |                         394900           | AGAINST                     |  |
| Mueller Water Products, Inc.           | 624758108 | 02/06/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 126830           |                0 | AGAINST     |                         126830           | AGAINST                     |  |
| Helmerich  Payne, Inc.                 | 423452101 | 03/05/2025     | Advisory vote on executive compensation.                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 619031           |                0 | AGAINST     |                         619031           | AGAINST                     |  |
| Sanmina Corporation                    | 801056102 | 03/10/2025     | To approve, on an advisory (non-binding) basis, the compensation of Sanmina Corporation's named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 514298           |                0 | AGAINST     |                         514298           | AGAINST                     |  |
| Limoneira Company                      | 532746104 | 04/09/2025     | To vote on an advisory resolution to approve the compensation of the Named Executive Officers as disclosed in this proxy statement ("Proposal 2");                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      2.2527e+06  |                0 | AGAINST     |                              2.2527e+06  | AGAINST                     |  |
| Federal Signal Corporation             | 313855108 | 04/22/2025     | Approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 269623           |                0 | AGAINST     |                         269623           | AGAINST                     |  |
| Valmont Industries, Inc.               | 920253101 | 04/28/2025     | Advisory approval of the company's executive compensation.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   7705           |                0 | AGAINST     |                           7705           | AGAINST                     |  |
| UMB Financial Corporation              | 902788108 | 04/29/2025     | An advisory vote (non-binding) on the compensation paid to UMB's named executive officers.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 289324           |                0 | AGAINST     |                         289324           | AGAINST                     |  |
| Vericel Corporation                    | 92346J108 | 04/30/2025     | To approve, on an advisory basis, the compensation of Vericel Corporation's named executive officers.                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |  35187           |                0 | AGAINST     |                          35187           | AGAINST                     |  |
| Primo Brands Corporation               | 741623102 | 05/01/2025     | Non-Binding Advisory Vote on Executive Compensation. Approval, on a non-binding advisory basis, of the compensation of Primo Brands Corporation's named executive officers.                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  77037           |                0 | AGAINST     |                          77037           | AGAINST                     |  |
| Primo Brands Corporation               | 741623102 | 05/01/2025     | Non-Binding Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation. Approval, on a non-binding advisory basis, of the frequency of future non-binding advisory votes on the compensation of Primo Brands Corporation's named executive officers.            | SECTION 14A SAY-ON-PAY VOTES |  77037           |                0 | ONE YEAR    |                          77037           | FOR                         |  |
| Zurn Elkay Water Solutions Corporation | 98983L108 | 05/01/2025     | Advisory vote to approve the compensation of Zurn Elkay's named executive officers, as disclosed in "Compensation Discussion and Analysis" and "Executive Compensation" in the Proxy Statement.                                                                                        | SECTION 14A SAY-ON-PAY VOTES |  97740           |                0 | AGAINST     |                          97740           | AGAINST                     |  |
| Farmland Partners Inc.                 | 31154R109 | 05/06/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      2.32735e+06 |                0 | AGAINST     |                              2.32735e+06 | AGAINST                     |  |
| Montrose Environmental Group, Inc.     | 615111101 | 05/06/2025     | To approve, on a non-binding and advisory basis, the compensation of our named executive officers ("Say on Pay").                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |  96336           |                0 | AGAINST     |                          96336           | AGAINST                     |  |
| Brunswick Corporation                  | 117043109 | 05/07/2025     | Advisory vote to approve the compensation of our Named Executive Officers.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 127660           |                0 | AGAINST     |                         127660           | AGAINST                     |  |
| Cogent Communications Holdings, Inc.   | 19239V302 | 05/07/2025     | Non-Binding Advisory Vote to approve Named Executive Officer Compensation.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  17450           |                0 | AGAINST     |                          17450           | AGAINST                     |  |
| Ormat Technologies, Inc.               | 686688102 | 05/07/2025     | To approve, in a non-binding, advisory vote, the compensation of our named executive officers.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.61895e+06 |                0 | AGAINST     |                              1.61895e+06 | AGAINST                     |  |
| Alcoa Corporation                      | 013872106 | 05/08/2025     | Approval, on an advisory basis, of the Company's 2024 named executive officer compensation                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 649580           |                0 | AGAINST     |                         649580           | AGAINST                     |  |
| Curtiss-Wright Corporation             | 231561101 | 05/08/2025     | An advisory (non-binding) vote to approve the compensation of the Company's named executive officers                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  79947           |                0 | AGAINST     |                          79947           | AGAINST                     |  |
| Gentherm Incorporated                  | 37253A103 | 05/08/2025     | Approval (on an advisory basis) of the compensation of the Company's named executive officers for the year ended December 31, 2024.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 539965           |                0 | AGAINST     |                         539965           | AGAINST                     |  |
| Diodes Incorporated                    | 254543101 | 05/12/2025     | To approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 365950           |                0 | AGAINST     |                         365950           | AGAINST                     |  |
| GXO Logistics, Inc.                    | 36262G101 | 05/13/2025     | Advisory Vote to Approve Executive Compensation   To conduct an advisory vote to approve the executive compensation of the company's named executive officers ("NEOs") as disclosed in this Proxy Statement.                                                                           | SECTION 14A SAY-ON-PAY VOTES | 561350           |                0 | AGAINST     |                         561350           | AGAINST                     |  |
| RLI Corp.                              | 749607107 | 05/13/2025     | Non-Binding, Advisory Vote to Approve the Compensation of the Company's Named Executive Officers (the "Say-on-Pay" vote).                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 354766           |                0 | AGAINST     |                         354766           | AGAINST                     |  |
| Option Care Health, Inc.               | 68404L201 | 05/14/2025     | To approve, on a non-binding advisory basis, our executive compensation.                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  74076           |                0 | AGAINST     |                          74076           | AGAINST                     |  |
| The Boston Beer Company, Inc.          | 100557107 | 05/14/2025     | Advisory vote to approve our Named Executive Officers' executive compensation.                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  53479           |                0 | AGAINST     |                          53479           | AGAINST                     |  |
| Power Integrations, Inc.               | 739276103 | 05/15/2025     | To approve, on an advisory basis, the compensation of Power Integrations' named executive officers, as disclosed in the proxy statement.                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  26515           |                0 | AGAINST     |                          26515           | AGAINST                     |  |
| Rayonier Inc.                          | 754907103 | 05/15/2025     | Approval, on a non-binding advisory basis, of the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 945962           |                0 | AGAINST     |                         945962           | AGAINST                     |  |
| Americold Realty Trust                 | 03064D108 | 05/20/2025     | Advisory Vote on Compensation of Named Executive Officers (Say-On-Pay).                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 130751           |                0 | AGAINST     |                         130751           | AGAINST                     |  |
| DNOW Inc.                              | 67011P100 | 05/21/2025     | To consider and act upon an advisory proposal to approve the compensation of our named executive officers.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      1.55746e+06 |                0 | AGAINST     |                              1.55746e+06 | AGAINST                     |  |
| Gulfport Energy Corporation            | 402635502 | 05/21/2025     | To approve, on an advisory, non-binding basis, the compensation paid to the Company's named executive officers as described in this proxy statement (the Say-On-Pay Proposal or Proposal 3).                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 107095           |                0 | AGAINST     |                         107095           | AGAINST                     |  |
| ANI Pharmaceuticals, Inc.              | 00182C103 | 05/22/2025     | To approve the compensation of the Company's named executive officers, on a non-binding, advisory basis.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 505635           |                0 | AGAINST     |                         505635           | AGAINST                     |  |
| Clean Energy Fuels Corp.               | 184499101 | 05/22/2025     | To approve, on an advisory, non-binding basis, the compensation of our named executive officers.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      6.70256e+06 |                0 | AGAINST     |                              6.70256e+06 | AGAINST                     |  |
| Wintrust Financial Corporation         | 97650W108 | 05/22/2025     | Proposal to approve, on an advisory (non-binding) basis, the Company's executive compensation as described in the 2025 Proxy Statement.                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 201423           |                0 | FOR         |                         201423           | FOR                         |  |
| ACI Worldwide, Inc.                    | 004498101 | 06/03/2025     | To conduct an advisory vote to approve named executive officer compensation; and                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 617740           |                0 | AGAINST     |                         617740           | AGAINST                     |  |
| Bright Horizons Family Solutions Inc.  | 109194100 | 06/03/2025     | To approve, on an advisory basis, the 2024 compensation paid by the Company to its Named Executive Officers.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  15030           |                0 | AGAINST     |                          15030           | AGAINST                     |  |
| SolarEdge Technologies, Inc.           | 83417M104 | 06/03/2025     | Approval of, on an advisory and non-binding basis, the compensation of our named executive officers (the "Say-on-Pay" vote).                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  44462           |                0 | AGAINST     |                          44462           | AGAINST                     |  |
| Globus Medical, Inc.                   | 379577208 | 06/04/2025     | To approve, in an advisory vote, the compensation of the Company's named executive officers (the Say-on-Pay Vote).                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 487519           |                0 | AGAINST     |                         487519           | AGAINST                     |  |
| Globus Medical, Inc.                   | 379577208 | 06/04/2025     | To approve, in an advisory vote, the frequency of the approval, on an advisory basis, of the compensation of our named executive officers (the Frequency Vote).                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 487519           |                0 | ONE YEAR    |                         487519           | FOR                         |  |
| Casella Waste Systems, Inc.            | 147448104 | 06/05/2025     | To approve, in an advisory "say-on-pay" vote, the compensation of the Company's named executive officers.                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 282572           |                0 | AGAINST     |                         282572           | AGAINST                     |  |
| Pacira Biosciences, Inc.               | 695127100 | 06/10/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  79660           |                0 | AGAINST     |                          79660           | AGAINST                     |  |
| Pacira Biosciences, Inc.               | 695127100 | 06/10/2025     | Advisory vote to approve the frequency of future advisory votes to approve the compensation of our named executive officers.                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  79660           |                0 | ONE YEAR    |                          79660           | FOR                         |  |
| RadNet, Inc.                           | 750491102 | 06/10/2025     | An advisory vote to approve the compensation of the Company's Named Executive Officers.                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 387202           |                0 | AGAINST     |                         387202           | AGAINST                     |  |
| Evercore Inc.                          | 29977A105 | 06/11/2025     | To approve, on an advisory basis, the executive compensation of our Named Executive Officers.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 135820           |                0 | AGAINST     |                         135820           | AGAINST                     |  |
| Limbach Holdings, Inc.                 | 53263P105 | 06/11/2025     | To hold a non-binding advisory vote on the compensation of our named executive officers.                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  15858           |                0 | FOR         |                          15858           | FOR                         |  |
| Armstrong World Industries, Inc.       | 04247X102 | 06/12/2025     | To approve, on an advisory basis, our executive compensation program.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 103800           |                0 | AGAINST     |                         103800           | AGAINST                     |  |
| ATN International, Inc.                | 00215F107 | 06/17/2025     | To hold an advisory vote (known as a "Say on Pay" vote) to approve the compensation of the Company's named executive officers.                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.07549e+06 |                0 | FOR         |                              1.07549e+06 | FOR                         |  |
| PRA Group, Inc.                        | 69354N106 | 06/17/2025     | Approval, on a non-binding advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      1.39664e+06 |                0 | AGAINST     |                              1.39664e+06 | AGAINST                     |  |
| Balchem Corporation                    | 057665200 | 06/18/2025     | Advisory approval of the compensation of the Company's named executive officers.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  17109           |                0 | AGAINST     |                          17109           | AGAINST                     |  |
| Verint Systems Inc.                    | 92343X100 | 06/19/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      1.31373e+06 |                0 | AGAINST     |                              1.31373e+06 | AGAINST                     |  |
| Oxford Industries, Inc.                | 691497309 | 06/24/2025     | Approve, by a non-binding, advisory vote, the compensation of the Company's named executive officers                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 197100           |                0 | AGAINST     |                         197100           | AGAINST                     |  |

## N-PX: Signature Block

**Reporting Person:** Global Alpha Capital Management Ltd.

**By (Signature):** Sabrina Lacroix

**By (Printed Signature):** Sabrina Lacroix

**By (Title):** Chief Compliance Officer

**Date:** 08/26/2025