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COHERENT CORP. 8-K Report, Shareholder Vote Results (Nov 18, 2022)

Filed November 18, 2022For Securities:COHR

Summary

Coherent Corp. (COHR) filed an 8-K on November 18, 2022, detailing the outcomes of its Annual Meeting of Shareholders held on November 16, 2022. The report confirms strong shareholder turnout, with approximately 89% of eligible votes represented. Key decisions included the election of four Class Two Directors (Enrico Digirolamo, David L. Motley, Lisa Neal-Graves, and Shaker Sadasivam) to serve until the 2025 annual meeting. Additionally, shareholders provided advisory approval for the company's executive compensation for fiscal year 2022 and ratified the appointment of Ernst & Young LLP as the independent auditor for fiscal year 2023. The filing also announced a quarterly dividend payment for its Series A Mandatory Convertible Preferred Stock.

Key Highlights

  • 1High shareholder participation at the Annual Meeting, with approximately 89% of eligible votes present.
  • 2Election of four Class Two Directors: Enrico Digirolamo, David L. Motley, Lisa Neal-Graves, and Shaker Sadasivam.
  • 3Shareholders provided advisory approval (Say-on-Pay) for the company's executive compensation in fiscal year 2022.
  • 4Ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2023.
  • 5A quarterly dividend of $3.00 per share was declared on the 6.00% Series A Mandatory Convertible Preferred Stock.
  • 6The dividend is payable in cash on January 1, 2023, to shareholders of record as of December 15, 2022.

Frequently Asked Questions

The Annual Meeting saw the election of four Class Two Directors, advisory approval of executive compensation, and ratification of the company's independent auditor, Ernst & Young LLP. Shareholder turnout was robust, with 89% of eligible votes represented.

Yes, all four nominated directors (Enrico Digirolamo, David L. Motley, Lisa Neal-Graves, and Shaker Sadasivam) were elected with a substantial majority of 'For' votes, indicating strong shareholder confidence.

Yes, on November 17, 2022, the Board of Directors declared a quarterly dividend of $3.00 per share on its 6.00% Series A Mandatory Convertible Preferred Stock. This dividend is payable in cash on January 1, 2023.

Ernst & Young LLP has been ratified by shareholders as the company's independent registered public accounting firm for the fiscal year ending June 30, 2023.