KNOT Offshore Partners LP Announces Adjournment of 2025 Annual Meeting Due to Lack of Quorum
KNOT Offshore Partners LP (NYSE: KNOP) (“the Partnership”) today announced that its 2025 Annual Meeting of limited partners has been adjourned due to a lack of quorum. The meeting will now be held at 3:00 P.M. UK time on January 5, 2026, at Floor 19, 1 Cabot Square, Canary Wharf, London E14 4QJ, United Kingdom.
The Partnership emphasized that the adjournment does not affect the record date for voting, which remains November 6, 2025, nor does it impact the proposals to be voted on by unitholders. All previously filed materials, including the Partnership’s proxy statement submitted to the U.S. Securities and Exchange Commission (SEC), remain unchanged.
Importance of the Annual Meeting
KNOT Offshore Partners LP, a publicly traded limited partnership focused on the ownership and operation of shuttle tankers and floating storage and offloading vessels (FSOs), holds its annual meetings to allow unitholders to vote on key corporate governance matters. Annual meetings provide an essential forum for:
- Reviewing and approving management proposals and resolutions
- Electing directors or members of the board or advisory committees
- Approving or ratifying significant business or financial initiatives
These meetings ensure that unitholders have a voice in the Partnership’s operations, strategic direction, and governance framework, which is critical in capital-intensive sectors such as offshore oil transportation.
Adjournment Details
The adjournment occurred because a quorum was not achieved, meaning the number of unitholders present or represented by proxy did not meet the minimum requirement necessary to conduct official business. According to corporate governance rules and the Partnership’s limited partnership agreement, a quorum is required to vote on proposals and elect directors or take other official actions.
The Partnership KNOT clarified that no changes have been made to the proposals to be voted on. Unitholders who have already submitted their votes via proxy do not need to vote again, and the Partnership thanked them for their support.
For unitholders who have not yet voted, the Partnership strongly encourages participation to ensure that quorum requirements are met and that all proposals receive the necessary consideration. Those unitholders may use the original Proxy Card provided for the Annual Meeting to cast their votes.
Record Date and Voting Eligibility
The record date, November 6, 2025, remains unchanged. This date determines which unitholders are entitled to vote at the Annual Meeting. Only unitholders of record as of this date can participate in the meeting, either in person or by proxy.
By establishing a record date, the Partnership ensures accurate tracking of unitholder interests and maintains compliance with SEC regulations and corporate governance best practices. It also allows the Partnership to distribute proxy materials and voting instructions to eligible unitholders in a timely manner.
Proxy Statement and Voting Proposals
The KNOT Partnership’s proxy statement, along with other materials filed with the SEC, remains valid and unchanged. These documents provide detailed information on the proposals to be considered at the Annual Meeting. While the Partnership did not disclose the specific proposals in this announcement, annual meetings generally cover:
- Election or re-election of board members or independent directors
- Approval of executive compensation plans or incentive programs
- Ratification of auditor appointments
- Other corporate governance or strategic matters
Unitholders who have not yet submitted their votes are urged to review the proxy materials carefully to make informed decisions. Voting in favor of proposals ensures that management can implement initiatives deemed beneficial for the Partnership and its stakeholders.
Encouraging Unitholder Participation
Adjournments due to lack of quorum highlight the importance of active unitholder participation in governance matters. While some investors may hold shares primarily for financial returns, voting at annual meetings is a critical avenue for influencing the direction and oversight of the company.
KNOT Offshore Partners LP encourages all unitholders to participate in the adjourned meeting. High participation ensures that governance decisions reflect the interests of a broad base of investors and strengthens the legitimacy of the meeting’s outcomes.
Corporate Governance and Compliance
The Partnership’s approach to annual meetings demonstrates its commitment to robust corporate governance practices. By adhering to quorum requirements, maintaining transparent voting procedures, and providing timely notice to unitholders, the Partnership aligns with both SEC regulations and best practices for publicly traded limited partnerships.
Good governance is especially important in the offshore oil transportation sector, where operations are capital-intensive and involve significant regulatory compliance, environmental risk management, and strategic decision-making. Effective oversight by unitholders helps ensure that management maintains a focus on safety, operational efficiency, and long-term value creation.
Next Steps for the Adjourned Meeting
The adjourned Annual Meeting is scheduled for 3:00 P.M. UK time on January 5, 2026, at 1 Cabot Square, Canary Wharf, London. Unitholders are encouraged to attend either in person or by proxy to vote on the proposals under consideration.
The KNOT Partnership’s management team and board of directors will be present to address questions and provide updates on corporate strategy, financial performance, and ongoing operational initiatives.
Unitholders who have already voted do not need to take any further action. Those who have not yet voted should submit their votes using the original Proxy Card or through any electronic voting channels provided. This ensures their participation in the decision-making process and contributes to achieving quorum.
While the adjournment of the 2025 Annual Meeting is a procedural setback, it provides an opportunity to increase unitholder engagement and participation. KNOT Offshore Partners LP continues to maintain transparency, uphold rigorous governance standards, and encourage all eligible unitholders to exercise their voting rights.
By adhering to these principles, the Partnership reinforces its commitment to shareholder value, accountability, and responsible management of its offshore shipping and storage assets. The adjourned meeting in January 2026 will provide the platform to finalize proposals, approve governance decisions, and continue advancing the strategic objectives of the Partnership.
Unitholders are reminded that:
- The record date remains November 6, 2025
- No proposals have changed
- Votes already submitted are valid and require no further action
- Unitholders who have not voted are urged to cast their votes
Participation KNOT in the adjourned meeting is essential to ensuring a representative and effective governance process for KNOT Offshore Partners LP as it continues to navigate a dynamic and highly regulated offshore energy sector.
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