8-K/AShareholder MattersExhibits & Filings

Baker Hughes Co 8-K/A Report, Shareholder Vote Results (Jul 28, 2023)

Filed July 28, 2023For Securities:BKR

Summary

This 8-K/A filing from Baker Hughes Co. (BKR) primarily addresses the outcome of a proposal voted on during their Annual Meeting of Stockholders regarding the frequency of advisory votes on executive compensation. The Board of Directors has confirmed that, following the stockholder vote, the company will continue to hold an advisory "Say on Pay" vote every year. This means that shareholders will have an annual opportunity to express their advisory opinion on executive compensation practices. While this filing does not contain new financial statements or material operational updates, it provides important governance information. The reaffirmation of annual "Say on Pay" votes aligns with the expressed preference of the security holders and demonstrates a commitment to ongoing shareholder engagement on executive compensation matters. Investors should note that the primary purpose of this amendment is to clarify and confirm the company's policy following the annual meeting vote.

Key Highlights

  • 1Baker Hughes' Board of Directors has determined to hold an annual advisory "Say on Pay" vote.
  • 2This decision follows a "Frequency Vote" at the Annual Meeting of Stockholders.
  • 3Stockholders voted in favor of an annual advisory vote on the frequency of future "Say on Pay" votes.
  • 4The company will include the "Say on Pay" vote in its annual meeting proxy materials every year until the next required Frequency Vote.
  • 5This filing is an amendment to a previous 8-K, clarifying the outcome of the Frequency Vote.
  • 6No new financial statements or significant operational disclosures are included in this filing.

Frequently Asked Questions

The main purpose of this 8-K/A filing is to officially confirm the outcome of a vote held at Baker Hughes' Annual Meeting of Stockholders regarding the frequency of advisory votes on executive compensation. The Board of Directors has decided, based on the stockholder vote, to hold an annual "Say on Pay" vote.

The "Say on Pay" vote is an advisory, non-binding vote where shareholders express their opinion on the company's executive compensation practices. It gives shareholders a voice on how the company compensates its top executives.

Yes, following the outcome of the "Frequency Vote" and the Board's determination, Baker Hughes will include an advisory "Say on Pay" vote in its annual meeting proxy materials every year. This will continue until the next required frequency vote.

No, this 8-K/A filing does not include any new financial statements, results of operations, or other material business updates. Its focus is solely on the governance decision regarding the frequency of the "Say on Pay" vote.