What were the main outcomes of the Ares Management Corp. Annual Meeting of Stockholders on May 20, 2019?

The main outcomes were the election of all director nominees, the ratification of Ernst & Young LLP as independent auditors, the approval of executive compensation for fiscal year 2018 (on an advisory basis), and the approval of a three-year frequency for future advisory votes on executive compensation.

Were there any proposals that failed to pass at the meeting?

No, all proposals presented at the meeting, including director elections, auditor ratification, and advisory votes on executive compensation and its frequency, received significant approval from shareholders.

What is the significance of the 'say-on-pay' vote and the 'say-on-frequency' vote?

The 'say-on-pay' vote is an advisory vote where shareholders express their opinion on the compensation of the company's named executive officers. The 'say-on-frequency' vote determines how often shareholders will have an advisory vote on executive compensation in the future. The approval of both indicates shareholder satisfaction with the current compensation practices and a preference for triennial advisory votes.

How many shares were eligible to vote and what were the different classes of stock?

As of the record date (March 28, 2019), there were 103,113,460 shares of Class A common stock, 1,000 shares of Class B common stock, and 1 share of Class C common stock outstanding, representing a total voting power of 515,567,300 votes.

ARES/ARES-PB 8-K: Shareholder Matters

Summary

This 8-K filing from Ares Management Corp. (ARES) details the outcomes of its Annual Meeting of Stockholders held on May 20, 2019. The primary focus for investors is the overwhelming approval of key corporate governance and operational matters. All director nominees were elected with significant support, indicating confidence in the current leadership. Furthermore, the company's choice of Ernst & Young LLP as its independent auditor for fiscal year 2019 received strong ratification. Notably, the "say-on-pay" vote, an advisory measure on executive compensation for fiscal year 2018, was also approved by a substantial majority. Investors also overwhelmingly supported a three-year frequency for future "say-on-pay" advisory votes, suggesting alignment on the company's approach to executive compensation disclosure and shareholder input. The strong voting results across all proposals reflect shareholder confidence in the company's management and governance practices.

Key Highlights

1All director nominees were overwhelmingly elected at the Annual Meeting.
2The appointment of Ernst & Young LLP as the independent auditor for fiscal year 2019 was ratified with strong shareholder approval.
3The advisory vote on executive compensation for fiscal year 2018 ('say-on-pay') was approved.
4Shareholders approved, on an advisory basis, a three-year frequency for future 'say-on-pay' votes.
5The total voting power across all share classes (Class A, B, and C) was 515,567,300 votes as of the record date.
6A significant number of broker non-votes were recorded for director elections and the executive compensation votes.

Ares Management Corp 8-K Report, Shareholder Vote Results (May 22, 2019)

Summary

Key Highlights

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