# EDGAR Filing Document

**Accession Number:** 0001645721
**File Stem:** 0001645721-25-000019
**Filing Date:** 2025-8
**Character Count:** 14724
**Document Hash:** a4af8961f3198b2452cb631cccc5b979
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001645721-25-000019.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001645721-25-000019

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**EFFECTIVENESS DATE**: 20250822

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Divisar Capital Management LLC
- **CENTRAL INDEX KEY:** 0001645721

**ORGANIZATION NAME:**
- **EIN:** 263895014
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17857
- **FILM NUMBER:** 251244953

**BUSINESS ADDRESS:**
- **STREET 1:** 275 SACRAMENTO STREET, 8TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 415-418-2201

**MAIL ADDRESS:**
- **STREET 1:** 275 SACRAMENTO STREET, 8TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

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

## N-PX: Filer Information

**Filer CIK:** 0001645721

**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:** Divisar Capital Management LLC

**Address:** 275 Sacramento Street, San Francisco, CA 94111

**Telephone number:** 415-418-2201

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-17857

**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   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| ABERCROMBIE  FITCH CO.             | 002896207 | 06/11/2025     | Advisory vote to approve the compensation of the Company's named executive officers for the fiscal year ended February 1, 2025.                                                                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| BIGCOMMERCE HOLDINGS, INC.         | 08975P108 | 05/15/2025     | Non-binding advisory vote to approve the compensation of our named executive officers.                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |        2552461 |                0 | FOR         | 2552461                                  | FOR                         |  |
| BOX, INC.                          | 10316T104 | 07/02/2024     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| BOX, INC.                          | 10316T104 | 06/27/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| BRUNSWICK CORPORATION              | 117043109 | 05/07/2025     | Advisory vote to approve the compensation of our Named Executive Officers.                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         330693 |                0 | FOR         | 330693                                   | FOR                         |  |
| CALIX, INC.                        | 13100M509 | 05/08/2025     | To approve, on a non-binding, advisory basis, Calix's named executive officer compensation.                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         524357 |                0 | FOR         | 524357                                   | 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 |              0 |                0 |  |  |  |  |
| COHERENT CORP.                     | 19247G107 | 11/14/2024     | Non-binding advisory vote to approve compensation paid to named executive officers in fiscal year 2024.                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| COHU, INC.                         | 192576106 | 05/16/2025     | Advisory vote to approve Named Executive Officer compensation, or "Say-on-Pay."                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ENVIRI CORPORATION                 | 415864107 | 04/24/2025     | Vote, on an advisory basis, to approve named executive officer compensation.                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         659841 |                0 | FOR         | 659841                                   | FOR                         |  |
| FABRINET                           | G3323L100 | 12/12/2024     | Approval, on a non-binding, advisory basis, of the compensation of Fabrinet's named executive officers.                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| FARO TECHNOLOGIES, INC.            | 311642102 | 05/21/2025     | Non-binding resolution to approve the compensation of the Company's named executive officers.                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| KULICKE AND SOFFA INDUSTRIES, INC. | 501242101 | 03/05/2025     | To approve, on a non-binding basis, the compensation of the Company's named executive officers.                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         797014 |                0 | FOR         | 797014                                   | FOR                         |  |
| LUMENTUM HOLDINGS INC.             | 55024U109 | 11/20/2024     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         770589 |                0 | FOR         | 770589                                   | FOR                         |  |
| MASTERCRAFT BOAT HOLDINGS INC      | 57637H103 | 10/22/2024     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         547566 |                0 | FOR         | 547566                                   | FOR                         |  |
| NLIGHT, INC.                       | 65487K100 | 06/10/2025     | To approve, on an advisory, non-binding basis, the compensation of our named executive officers.                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        1504092 |                0 | FOR         | 1504092                                  | FOR                         |  |
| OLO INC.                           | 68134L109 | 06/12/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |        1135131 |                0 | FOR         | 1135131                                  | FOR                         |  |
| ONTO INNOVATION INC.               | 683344105 | 05/21/2025     | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in the proxy statement.                                                                        | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ORION S A                          | L72967109 | 06/26/2025     | Approval, on a non-binding advisory basis, of the compensation paid to the Company's named executive officers for 2024 (Say-on-Pay vote) as disclosed in the accompanying proxy statement.                   | SECTION 14A SAY-ON-PAY VOTES |        1683620 |                0 | FOR         | 1683620                                  | FOR                         |  |
| PDF SOLUTIONS, INC.                | 693282105 | 06/17/2025     | To approve, by a non-binding advisory vote, the compensation of our named executive officers disclosed in the Proxy Statement.                                                                               | SECTION 14A SAY-ON-PAY VOTES |         567210 |                0 | FOR         | 567210                                   | FOR                         |  |
| POLARIS INC.                       | 731068102 | 05/01/2025     | Advisory vote to approve the compensation of the Company's Named Executive Officers                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         479639 |                0 | FOR         | 479639                                   | FOR                         |  |
| RXO INC                            | 74982T103 | 05/21/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| STITCH FIX, INC.                   | 860897107 | 12/12/2024     | Advisory vote on the frequency of solicitation of advisory stockholder approval of executive compensation.                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        5931197 |                0 | 1 YEAR      | 5931197                                  | FOR                         |  |
| STITCH FIX, INC.                   | 860897107 | 12/12/2024     | Advisory vote to approve executive compensation.                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        5931197 |                0 | FOR         | 5931197                                  | FOR                         |  |
| TILLY'S INC.                       | 886885102 | 06/11/2025     | Non-binding, advisory vote to approve the compensation of our named executive officers.                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ULTRA CLEAN HOLDINGS, INC.         | 90385V107 | 05/21/2025     | Approval, by an advisory vote, of the compensation of Ultra Clean Holdings, Inc.'s named executive officers for fiscal 2024 as disclosed in our proxy statement for the 2025 Annual Meeting of Stockholders. | SECTION 14A SAY-ON-PAY VOTES |         954935 |                0 | FOR         | 954935                                   | FOR                         |  |
| VERINT SYSTEMS INC.                | 92343X100 | 07/10/2024     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| VIMEO, INC.                        | 92719V100 | 06/09/2025     | Approve a non-binding advisory resolution to approve the compensation of the Company's named executive officers (say on pay).                                                                                | SECTION 14A SAY-ON-PAY VOTES |        7530025 |                0 | FOR         | 7530025                                  | FOR                         |  |
| ZUMIEZ INC.                        | 989817101 | 06/04/2025     | Approval, on an advisory basis, of executive compensation.                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |

## N-PX: Signature Block

**Reporting Person:** Divisar Capital Management LLC

**By (Signature):** Steven Baughman

**By (Printed Signature):** Steven Baughman

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

**Date:** 08/22/2025