Summary
This 8-K filing from The Bank of New York Mellon Corporation (BK) details the outcomes of its Annual Meeting of Stockholders held on April 13, 2010. The report indicates that management proposals, including the election of directors and the ratification of KPMG LLP as the independent auditor for fiscal year 2010, were approved by a majority of votes cast. Additionally, a shareholder proposal requesting stockholder approval of certain future severance agreements with senior executives also received majority support. Conversely, two shareholder proposals failed to gain majority approval: one requesting cumulative voting in director elections and another seeking the adoption of a policy for a five-year lock-up period on senior executives' equity incentive awards. The advisory vote on 2009 executive compensation was approved. Overall, the filing primarily communicates the voting results on various corporate governance and operational matters put before the shareholders.
Key Highlights
- 1Management's proposals, including the election of 15 directors, were approved at the Annual Meeting.
- 2The appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2010 was ratified.
- 3A shareholder proposal requiring stockholder approval of certain future severance agreements with senior executives was approved.
- 4A shareholder proposal requesting cumulative voting in director elections did not pass.
- 5A shareholder proposal to adopt a policy for a five-year lock-up period on senior executives' equity incentive awards was not approved.
- 6The advisory (non-binding) vote regarding 2009 executive compensation received majority approval.