8-KShareholder Matters

CENTENE CORP 8-K Report, Shareholder Vote Results (Jan 29, 2019)

Filed January 29, 2019For Securities:CNC

Summary

Centene Corporation (CNC) filed an 8-K on January 29, 2019, to report the results of a special meeting of stockholders held on January 28, 2019. The primary purpose of this meeting was to vote on a proposed amendment to the company's certificate of incorporation. This amendment aimed to double the authorized shares of common stock from 400,000,000 to 800,000,000. The proposal to increase the authorized shares was overwhelmingly approved by Centene's stockholders. The company achieved significant participation, with approximately 89% of outstanding and entitled-to-vote shares represented at the meeting. This strong stockholder support indicates confidence in management's strategic direction and its need for increased equity flexibility.

Key Highlights

  • 1Centene Corporation held a special meeting of stockholders on January 28, 2019.
  • 2The key proposal was to amend the certificate of incorporation to increase authorized common stock from 400 million to 800 million shares.
  • 3Approximately 89% of outstanding shares were represented at the meeting, demonstrating high stockholder engagement.
  • 4The proposal to increase authorized shares received overwhelming approval from stockholders.
  • 5The voting results show 181,896,795 shares voted FOR the amendment.
  • 6This increase in authorized shares provides Centene with greater financial flexibility for future strategic initiatives, such as acquisitions or other corporate financing needs.

Frequently Asked Questions

The main purpose of the special meeting was to vote on a proposal to amend Centene's certificate of incorporation to increase the number of authorized shares of common stock from 400,000,000 to 800,000,000.

Yes, the proposal to increase the number of authorized shares of common stock was overwhelmingly approved by Centene's stockholders at the special meeting.

Increasing authorized shares typically provides a company with greater financial flexibility. This can be used for various purposes such as funding future acquisitions, raising capital through stock offerings, employee stock plans, or other strategic investments without needing to call another special meeting for approval.

Approximately 89% of Centene's outstanding shares entitled to vote as of the record date (December 24, 2018) were represented in person or by proxy at the special meeting.