8-KShareholder Matters

COLGATE PALMOLIVE CO 8-K Report, Shareholder Vote Results (May 10, 2016)

Filed May 10, 2016For Securities:CL

Summary

This 8-K filing from Colgate-Palmolive Company (CL) reports on the outcomes of its Annual Meeting of Stockholders held on May 6, 2016. The primary focus is on the voting results for key corporate governance and shareholder matters. Investors can find information regarding the election of directors, the ratification of the independent auditor, and the advisory vote on executive compensation. Of particular note, all nominated directors were elected with significant support, indicating shareholder confidence in the current board. PricewaterhouseCoopers LLP was also ratified as the independent registered public accounting firm for the upcoming fiscal year. The non-binding advisory vote on executive compensation received majority approval. However, a shareholder proposal seeking a 15% threshold for calling special meetings did not pass, suggesting the current mechanisms are preferred by the majority of shareholders. This filing provides a snapshot of shareholder sentiment on governance and executive matters at the time of the meeting.

Key Highlights

  • 1All ten nominated directors for Colgate-Palmolive Company were elected to the board at the May 6, 2016 Annual Meeting.
  • 2PricewaterhouseCoopers LLP was ratified as the company's independent registered public accounting firm for the fiscal year ending December 31, 2016, with overwhelming shareholder support.
  • 3A non-binding advisory vote on the company's executive compensation was approved by a majority of shareholders.
  • 4A shareholder proposal to establish a 15% threshold for calling special shareowner meetings was not approved, failing to gain majority support.
  • 5Director elections showed strong support across the board, with votes 'For' ranging from approximately 650 million to 671 million.
  • 6Broker non-votes were a significant factor in the director elections and executive compensation vote, amounting to over 102 million shares.
  • 7The filing details the specific vote counts for each director, auditor ratification, executive compensation advisory vote, and the shareholder proposal.

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