Summary
Berkshire Hathaway Inc. filed an 8-K report on May 7, 2013, detailing the results of its annual shareholder meeting held on May 4, 2013. The primary focus of the filing is the outcome of shareholder votes on two key agenda items: the election of directors and a shareholder proposal regarding greenhouse gas emissions. Investors would note that all incumbent directors were re-elected, with overwhelming support, including that for long-time leaders Warren E. Buffett and Charles T. Munger. One new director was also elected. The shareholder proposal, which sought to establish quantitative goals for reducing greenhouse gas and other air emissions at Berkshire's energy holdings and requested a report on how these goals would be achieved, did not pass, receiving significantly less support than votes against it.
Key Highlights
- 1All incumbent directors were re-elected at the annual shareholder meeting on May 4, 2013.
- 2Warren E. Buffett and Charles T. Munger, key figures in Berkshire Hathaway's leadership, received overwhelming support in their director re-election.
- 3One new director was elected to the board.
- 4A shareholder proposal concerning the establishment of reasonable, quantitative goals for reducing greenhouse gas and other air emissions at Berkshire's energy-generating holdings was voted down.
- 5The shareholder proposal received 57,569 votes 'For' and 598,162 votes 'Against', indicating clear shareholder opposition to its adoption.
- 6Class A and Class B common stocks voted together as a single class on all agenda items.