8-KShareholder MattersOther EventsExhibits & Filings

AMERICAN TOWER CORP /MA/ 8-K Report, Shareholder Vote Results (Jun 2, 2016)

Filed June 2, 2016For Securities:AMT

Summary

This Form 8-K filing by American Tower Corporation (AMT) on June 2, 2016, details the outcomes of its Annual Meeting of Stockholders held on June 1, 2016, and announces a quarterly cash distribution. Key governance matters were voted upon by shareholders, with all incumbent directors being elected and the independent auditor, Deloitte & Touche LLP, being ratified. The advisory vote on executive compensation also passed. However, a proposed amendment to the Company's By-Laws to lower the threshold for calling special meetings was rejected by shareholders. In addition to the stockholder meeting results, the filing also announces a quarterly cash distribution of $0.53 per share of common stock, payable on July 15, 2016, to shareholders of record on June 17, 2016. This distribution indicates a continued commitment to returning capital to shareholders, a crucial factor for income-focused investors.

Key Highlights

  • 1All 10 incumbent directors were elected at the 2016 Annual Meeting of Stockholders.
  • 2Stockholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2016.
  • 3An advisory vote to approve the Company's executive compensation was passed by shareholders.
  • 4A proposal to amend the Company's By-Laws to reduce the ownership threshold required to call a special meeting was rejected.
  • 5The Board of Directors declared a cash distribution of $0.53 per share of common stock.
  • 6The cash distribution is payable on July 15, 2016, to shareholders of record on June 17, 2016.

Frequently Asked Questions

At the 2016 Annual Meeting, shareholders elected all 10 directors, ratified the appointment of Deloitte & Touche LLP as the independent auditor, and approved the executive compensation on an advisory basis. However, a proposal to lower the threshold for calling special meetings was rejected.

No, the proposal to amend the Company's By-Laws to reduce the ownership threshold required to call a special meeting was rejected by a significant margin, with more votes cast against it than for it.

The Board of Directors declared a cash distribution of $0.53 per share. This distribution is payable on July 15, 2016, to shareholders of record as of the close of business on June 17, 2016.

The selection of Deloitte & Touche LLP as the independent registered public accounting firm for 2016 was ratified by the stockholders. Additionally, an advisory vote to approve the company's executive compensation was also passed.