8-KShareholder MattersOther Events

American Water Works Company, Inc. 8-K Report, Shareholder Vote Results (May 13, 2021)

Filed May 13, 2021For Securities:AWK

Summary

American Water Works Company, Inc. (AWK) filed an 8-K on May 12, 2021, detailing the outcomes of its 2021 Annual Meeting of Shareholders held on May 11, 2021. The meeting saw strong participation, with approximately 87.7% of outstanding common stock represented, indicating significant shareholder engagement and a quorum. Key outcomes included the election of eleven directors to serve until the 2022 Annual Meeting and the advisory approval of executive compensation. Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2021. Following the annual meeting, the Board of Directors made several appointments. Karl F. Kurz will continue as Chairman of the Board. Committee assignments were also updated, with specific directors appointed to lead and serve on the Audit, Finance and Risk Committee; Executive Development and Compensation Committee; Nominating/Corporate Governance Committee; and Safety, Environmental, Technology and Operations Committee. These appointments ensure the continued governance and oversight of the company by its board.

Key Highlights

  • 1The 2021 Annual Meeting of Shareholders was held on May 11, 2021, with 87.7% of outstanding common stock represented, demonstrating high shareholder turnout and a quorum.
  • 2Eleven director nominees were overwhelmingly elected to serve until the 2022 Annual Meeting of Shareholders.
  • 3Shareholders approved, on an advisory basis, the compensation of the company's named executive officers with a significant majority vote in favor.
  • 4PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2021, receiving strong shareholder approval.
  • 5Karl F. Kurz was re-appointed as Chairman of the Board.
  • 6New committee assignments for the Board of Directors were announced following the annual meeting, with specific chairs and members appointed to key committees (Audit, Executive Compensation, Nominating/Corporate Governance, Safety/Environmental/Technology/Operations).

Frequently Asked Questions

The main outcomes included the election of 11 directors, the advisory approval of executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent auditor for 2021. There was also a significant representation of shares at the meeting, indicating strong shareholder participation.

Karl F. Kurz will continue to serve as the Chairman of the Board, a role he was re-appointed to following the 2021 Annual Meeting.

Yes, following the annual meeting, the Board appointed directors to serve on its four standing committees. Specific chairs and members were designated for the Audit, Finance and Risk Committee; Executive Development and Compensation Committee; Nominating/Corporate Governance Committee; and Safety, Environmental, Technology and Operations Committee.

The compensation of the company's named executive officers was approved on an advisory basis by a substantial majority. Out of the votes cast, approximately 134.6 million were 'For' the compensation plan, compared to about 7.3 million 'Against'.