Summary
This 8-K filing from Baker Hughes Company details the outcomes of their 2021 Annual Meeting of Shareholders held on May 14, 2021. All proposed items were approved by shareholders, indicating strong support for the company's governance and compensation structures. Key decisions included the election of all nominated directors, advisory approval of executive compensation, ratification of KPMG LLP as the independent auditor, and the approval of the Employee Stock Purchase Plan (ESPP) and the 2021 Long-Term Incentive Plan (2021 LTIP). Furthermore, the filing announces significant leadership changes effective May 14, 2021. Lorenzo Simonelli was elected Chairman of the Board, and W. Geoffrey Beattie was appointed Lead Director. The approval of the 2021 LTIP by shareholders is a notable event, paving the way for the company to continue its incentive programs for directors, officers, and employees, with associated award agreements filed as exhibits.
Key Highlights
- 1All nine nominated directors were elected to the Board.
- 2Shareholders provided advisory approval for the Company's executive compensation program.
- 3KPMG LLP was ratified as Baker Hughes' independent registered public accounting firm for fiscal year 2021.
- 4The Amendment and Restatement of the Employee Stock Purchase Plan (ESPP) was approved by shareholders.
- 5The Baker Hughes Company 2021 Long-Term Incentive Plan (2021 LTIP) received shareholder approval.
- 6Lorenzo Simonelli was elected Chairman of the Board.
- 7W. Geoffrey Beattie was appointed Lead Director.