FAYETTEVILLE, Ark.--(BUSINESS WIRE)--Wal-Mart Stores, Inc. (NYSE: WMT) today announced shareholder voting results for its Annual Shareholders’ Meeting. Approximately 92.90 percent of all outstanding shares were present or represented by proxy at the meeting.
The company reported that shareholders approved the election of each of Walmart’s 12 director nominees. Each director nominee received affirmative votes from approximately 94.51 percent or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded to the nearest 1/100 of 1 percent):
|James I. Cash, Jr.||97.12||2.88|
|Pamela J. Craig||98.18||1.82|
|Timothy P. Flynn||98.19||1.81|
|Thomas W. Horton||99.77||0.23|
|Marissa A. Mayer||94.51||5.49|
|C. Douglas McMillon||99.57||0.43|
|Gregory B. Penner||97.85||2.15|
|Steven S Reinemund||95.21||4.79|
|Kevin Y. Systrom||94.87||5.13|
|S. Robson Walton||95.29||4.71|
|Steuart L. Walton||98.03||1.97|
|Linda S. Wolf||94.67||5.33|
Shareholders voted to approve, on an advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2016 proxy statement, with approximately 84.80 percent of the shares present in person or represented by proxy voting in favor of this proposal. The Board of Directors had recommended a vote for this proposal.
Shareholders also voted to approve the 2016 associate stock purchase plan, with approximately 99.35 percent of the shares present in person or represented by proxy voting in favor of this proposal. The Board of Directors previously had approved the associate stock purchase plan, subject to shareholder approval.
Shareholders also ratified Ernst & Young LLP as Walmart’s independent accountants, with affirmative votes from approximately 99.49 percent of the shares that were present in person or represented by proxy at the meeting and entitled to vote.
The three shareholder proposals, each of which the Board of Directors had recommended a vote against, failed to receive affirmative votes from a majority of the total shares that were represented at the meeting and entitled to vote and, accordingly, they did not pass. A report on the approximate percentages of the shares present or represented by proxy at the meeting that were voted in favor of each shareholder proposal follows:
- Proposal 5 – Request to adopt an independent chairman policy: approximately 14.81 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Proposal 6 – Request for annual report regarding incentive compensation plans: approximately 9.45 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Proposal 7 – Request for report regarding criteria for operating in high-risk regions: approximately 0.69 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
The official voting results for each of these proposals will be disclosed in a report to be filed next week with the Securities and Exchange Commission.
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,527 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482 billion, Walmart employs more than 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.