01—Abstract
Summary
Summary of the 8-K filed November 18, 2022. Cited figures are marked; the original filing is the authoritative source.
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%a 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.
02—Key points
Key Highlights
- High shareholder participation at the Annual Meeting, with approximately 89% of eligible votes present.
- Election of four Class Two Directors: Enrico Digirolamo, David L. Motley, Lisa Neal-Graves, and Shaker Sadasivam.
- Shareholders provided advisory approval (Say-on-Pay) for the company's executive compensation in fiscal year 2022.
- Ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2023.
- A quarterly dividend of $3.00 per share was declared on the 6.00% Series A Mandatory Convertible Preferred Stock.
- The dividend is payable in cash on January 1, 2023, to shareholders of record as of December 15, 2022.
03—Questions
Frequently Asked Questions
What were the main outcomes of Coherent Corp.'s Annual Meeting of Shareholders on November 16, 2022?
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.
Were the proposed directors elected by a significant margin?
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.
Has Coherent Corp. announced any dividend payments?
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.
Who is Coherent Corp.'s independent auditor for the upcoming fiscal year?
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.
04—Continue