Summary
Burlington Stores, Inc. filed an 8-K/A on September 18, 2014, to amend a previous filing from July 24, 2014, concerning the results of its annual meeting of stockholders held on July 18, 2014. The primary purpose of this amendment is to disclose the company's decision on the frequency of its "Say-on-Pay" advisory votes. Following the advisory vote at the annual meeting, where stockholders approved the "Say-on-Pay" resolution, the Board of Directors has decided to hold these advisory votes on executive compensation annually. This commitment is set to continue until the next required vote on frequency in 2020, or until the Board determines a different frequency is more beneficial for shareholders.
Key Highlights
- 1Amendment to a previous Form 8-K filing dated July 24, 2014.
- 2Original filing reported on the July 18, 2014, annual meeting of stockholders.
- 3The amendment clarifies the frequency of future 'Say-on-Pay' advisory votes.
- 4Stockholders approved an advisory vote on executive compensation at the annual meeting.
- 5Burlington Stores' Board of Directors will hold 'Say-on-Pay' votes annually.
- 6The annual 'Say-on-Pay' vote is set to continue until 2020, or until the Board decides otherwise.
- 7This filing does not alter any other information from the original Form 8-K.
Frequently Asked Questions
The main purpose of this Form 8-K/A is to officially disclose Burlington Stores, Inc.'s decision regarding the frequency of future advisory stockholder votes on executive compensation, commonly known as 'Say-on-Pay' votes. This decision follows the results of the company's annual meeting held on July 18, 2014.
At the annual meeting of stockholders on July 18, 2014, the stockholders approved, on an advisory and non-binding basis, holding an annual 'Say-on-Pay' vote to approve the compensation of the company's named executive officers.
Based on the stockholder vote and the Board of Directors' decision, Burlington Stores will hold 'Say-on-Pay' votes annually. This practice is expected to continue until the next required vote on frequency in 2020, or until the Board determines a different frequency is in the best interest of stockholders.
No, this Form 8-K/A is solely an amendment to clarify the frequency of 'Say-on-Pay' votes. It does not introduce any new financial results, operational changes, or other information beyond what was originally reported in the July 24, 2014 Form 8-K, except for this specific disclosure.