# EDGAR Filing Document

**Accession Number:** 0001381954
**File Stem:** 0001941040-25-000510
**Filing Date:** 2025-8
**Character Count:** 31117
**Document Hash:** f28f23b2cc30de43c5e4385bbf40a6a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001941040-25-000510.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001941040-25-000510

**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:** Tieton Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001381954

**ORGANIZATION NAME:**
- **EIN:** 202956186
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14613
- **FILM NUMBER:** 251263749

**BUSINESS ADDRESS:**
- **STREET 1:** 4700 TIETON DRIVE, SUITE C
- **CITY:** YAKIMA
- **STATE:** WA
- **ZIP:** 98908
- **BUSINESS PHONE:** 509-965-6488

**MAIL ADDRESS:**
- **STREET 1:** 4700 TIETON DRIVE, SUITE C
- **CITY:** YAKIMA
- **STATE:** WA
- **ZIP:** 98908

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

## N-PX: Filer Information

**Filer CIK:** 0001381954

**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:** Tieton Capital Management, LLC

**Address:** 4700 TIETON DRIVE, SUITE C, YAKIMA, WA 98908

**Telephone number:** 509-965-6488

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-14613

**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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| BGSF, Inc.                             | 05601C105 | 08/07/2024     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 368910           |                0 | FOR         |                         368910           | FOR                         |  |
| Orion Energy Systems, Inc.             | 686275108 | 08/08/2024     | Advisory vote on the approval of the compensation of the Company's named executive officers as disclosed in the proxy statement.                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      1.5465e+06  |                0 | FOR         |                              1.5465e+06  | FOR                         |  |
| Stabilis Solutions, Inc.               | 85236P101 | 08/21/2024     | To vote on a non-binding advisory resolution to approve executive compensation.                                                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 121273           |                0 | FOR         |                         121273           | FOR                         |  |
| Stabilis Solutions, Inc.               | 85236P101 | 08/21/2024     | To vote on the desired frequency of the non-binding advisory vote to approve executive compensation                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 121273           |                0 | 1 YEAR      |                         121273           | AGAINST                     |  |
| Motorcar Parts of America, Inc.        | 620071100 | 09/05/2024     | To vote on an advisory (non-binding) proposal to approve the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 715059           |                0 | FOR         |                         715059           | FOR                         |  |
| Resources Connection, Inc.             | 76122Q105 | 10/17/2024     | The approval, on an advisory basis, of the Company's executive compensation.                                                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 299605           |                0 | FOR         |                         299605           | FOR                         |  |
| Key Tronic Corporation                 | 493144109 | 11/25/2024     | Advisory vote to approve the compensation of the Company's named executive officers, as disclosed in "Executive Compensation" in the Proxy Statement.                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 453559           |                0 | FOR         |                         453559           | FOR                         |  |
| Geospace Technologies Corporation      | 37364x109 | 02/06/2025     | To approve the following non-binding, advisory resolution: "RESOLVED", that the stockholders approve the compensation fo the Company's named executive officers as disclosed in the Company's 2025 proxy statement pursuant to Item 402 of Regulation S-K, (which disclosure includes the Overview of Company Compensation, the Summary Compensation Table and other executive compensation tables and related discussion). | SECTION 14A SAY-ON-PAY VOTES | 526195           |                0 | FOR         |                         526195           | FOR                         |  |
| Hewlett Packard Enterprise Company     | 42824c109 | 04/02/2025     | Advisory vote to approve the Hewlett Packard Enterprise Company's executive compensation                                                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   1111           |                0 | FOR         |                           1111           | FOR                         |  |
| Texas Capital Bancshares, Inc.         | 88224q107 | 04/15/2025     | To approve, on an advisory basis, the 2024 compensation of the Company's named executive officers as described in the Proxy Statement                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  88600           |                0 | FOR         |                          88600           | FOR                         |  |
| Myers Industries, Inc.                 | 628464109 | 04/24/2025     | Advisory Vote to Approve Executive Compensation                                                                                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 349280           |                0 | FOR         |                         349280           | FOR                         |  |
| Primoris Services Corporation          | 74164F103 | 04/30/2025     | Advisory, Non-Binding Vote Approving the Company's Named Executive Officer Compensation                                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  57450           |                0 | FOR         |                          57450           | FOR                         |  |
| Nature's Sunshine Products, Inc.       | 639027101 | 04/30/2025     | An advisory, non-binding resolution to approve the compensation of the named executive officers.                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  38230           |                0 | FOR         |                          38230           | FOR                         |  |
| Enova International, Inc.              | 29357K103 | 05/14/2025     | A non-binding advisory vote to approve the compensation paid to the Company's named executive officers.                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  80520           |                0 | FOR         |                          80520           | FOR                         |  |
| Adtran Holdings, Inc.                  | 00486H105 | 05/14/2024     | Non-binding advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 776119           |                0 | FOR         |                         776119           | FOR                         |  |
| NPK International Inc.                 | 651718504 | 05/15/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 792433           |                0 | FOR         |                         792433           | FOR                         |  |
| Core Molding Technologies, Inc.        | 218683100 | 05/15/2025     | A non-binding advisory vote on the compensation of the named executive officers.                                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 318691           |                0 | FOR         |                         318691           | FOR                         |  |
| Regional Management Corp.              | 75902K106 | 05/15/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 195764           |                0 | FOR         |                         195764           | FOR                         |  |
| DHI Group, Inc.                        | 23331S100 | 05/16/2025     | Advisory vote with respect to the compensation of our named executive officers                                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      2.29332e+06 |                0 | FOR         |                              2.29332e+06 | FOR                         |  |
| American Coastal Insurance Corporation | 910710102 | 05/19/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers as described in the proxy statement.                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 956090           |                0 | FOR         |                         956090           | FOR                         |  |
| American Coastal Insurance Corporation | 910710102 | 05/19/2025     | Approval, on an advisory basis, of the frequency of holding future advisory votes on the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 956090           |                0 | 1YEAR       |                         956090           | AGAINST                     |  |
| CECO Environmental Corp.               | 125141101 | 05/20/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |   2064           |                0 | FOR         |                           2064           | FOR                         |  |
| CECO Environmental Corp.               | 125141101 | 05/20/2025     | To recommend, on an advisory basis, the frequency of future advisory votes to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |   2064           |                0 | 1YEAR       |                           2064           | FOR                         |  |
| Vishay Precision Group, Inc.           | 92835k103 | 05/21/2025     | To approve the non-binding resolution relating to the executive compensation.                                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 243574           |                0 | FOR         |                         243574           | FOR                         |  |
| Meta Platforms, Inc.                   | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |    200           |                0 | FOR         |                            200           | FOR                         |  |
| Meta Platforms, Inc.                   | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years.                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |    200           |                0 | 1YEAR       |                            200           | AGAINST                     |  |
| Customer's Bancorp, Inc.               | 23204G100 | 05/27/2025     | To approve a non-binding advisory resolution on named executive officer compensation.                                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 223283           |                0 | FOR         |                         223283           | FOR                         |  |
| Duluth Holdings Inc.                   | 26443V101 | 05/29/2025     | To approve, by an advisory vote, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 523405           |                0 | FOR         |                         523405           | FOR                         |  |
| Veritex Holdings, Inc.                 | 923451108 | 05/27/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 247707           |                0 | FOR         |                         247707           | FOR                         |  |
| El Pollo Loco Holdings, Inc.           | 268603107 | 05/29/2025     | Approval, on an Advisory (Non-Binding) Basis, of the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 406960           |                0 | FOR         |                         406960           | FOR                         |  |
| Barrett Business Services, Inc.        | 068463108 | 06/02/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 192378           |                0 | FOR         |                         192378           | FOR                         |  |
| Climb Global Solutions Inc             | 946760105 | 06/03/2025     | A non-binding advisory resolution to approve the compensation of the Company's named executive officers, as described in the Company's proxy statement.                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  46880           |                0 | FOR         |                          46880           | FOR                         |  |
| Climb Global Solutions Inc             | 946760105 | 06/03/2025     | The approval of the frequency of future advisory votes on executive compensation.                                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  46880           |                0 | 1YEAR       |                          46880           | FOR                         |  |
| Zumiez Inc.                            | 989817101 | 06/04/2025     | Approval, on an advisory basis, of executive compensation.                                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 198255           |                0 | FOR         |                         198255           | FOR                         |  |
| Civitas Resources, Inc.                | 17888H103 | 06/04/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 149942           |                0 | AGAINST     |                         149942           | AGAINST                     |  |
| First Western Financial, Inc.          | 33751L105 | 06/04/2025     | Advisory, non-binding vote to approve the compensation paid to the Company's named executive officers.                                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 133804           |                0 | FOR         |                         133804           | FOR                         |  |
| VAALCO Energy, Inc.                    | 91851C201 | 06/05/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.30435e+06 |                0 | FOR         |                              1.30435e+06 | FOR                         |  |
| Guess?, Inc.                           | 401617105 | 06/10/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 340053           |                0 | AGAINST     |                         340053           | AGAINST                     |  |
| Shutterstock, Inc.                     | 825690100 | 06/10/2025     | To approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to Shutterstock's named executive officers that is based on or otherwise related to the merger.                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 174220           |                0 | AGAINST     |                         174220           | AGAINST                     |  |
| Medallion Financial Corp.              | 583928106 | 06/12/2025     | Proposal to approve a non-binding advisory resolution to approve the 2024 compensation of Medallion Financial Corp.'s named executive officers, as described in the proxy statement.                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 580769           |                0 | FOR         |                         580769           | FOR                         |  |
| Fluent, Inc.                           | 34380C201 | 06/18/2025     | Approve, on an advisory basis, the 2024 compensation of the Company's named executive officers (Say-on-Pay).                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 818116           |                0 | FOR         |                         818116           | FOR                         |  |
| Niagen Bioscience, Inc.                | 171077407 | 06/24/2025     | Approval, on an advisory basis, of the compensation of our named executive officers, as disclosed in the accompanying proxy statement                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      1.506e+06   |                0 | FOR         |                              1.506e+06   | FOR                         |  |
| NVIDIA Corporation                     | 67066G104 | 06/25/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |     86           |                0 | FOR         |                             86           | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Tieton Capital Management, LLC

**By (Signature):** William Dezellem

**By (Printed Signature):** William Dezellem

**By (Title):** President

**Date:** 08/27/2025