01—Abstract
Summary
Summary of the 8-K/A filed November 14, 2023. Cited figures are marked; the original filing is the authoritative source.
COHERENT CORP. (COHR) filed an 8-K report detailing the results of its Annual Meeting of Shareholders held on or before November 14, 2023.
The report indicates strong shareholder participation, with approximately 86%a of the total voting power present. Key outcomes include the election of four Class Three Directors: Joseph J. Corasanti, Patricia Hatter, Stephan A.
Skaggs, and Sandeep Vij, all elected to serve until the 2026 annual meeting. Shareholders also approved, on an advisory basis, the company's executive compensation for fiscal year 2023 and overwhelmingly supported holding future advisory votes on executive compensation annually.
02—Key points
Key Highlights
- Four Class Three Directors (Joseph J. Corasanti, Patricia Hatter, Stephan A. Skaggs, Sandeep Vij) were elected for terms ending in 2026.
- Shareholder turnout was robust, with approximately 86% of total voting power represented.
- Executive compensation for fiscal year 2023 was approved on a non-binding advisory basis.
- Shareholders strongly favored holding advisory votes on executive compensation annually.
- An amendment and restatement of the 2018 Omnibus Incentive Plan was approved.
- An amendment and restatement of the 2018 Employee Stock Purchase Plan was approved.
- Ernst & Young LLP was ratified as the independent registered public accounting firm for fiscal year ending June 30, 2024.
03—Questions
Frequently Asked Questions
Which directors were elected to the Board?
Joseph J. Corasanti, Patricia Hatter, Stephan A. Skaggs, and Sandeep Vij were elected as Class Three Directors.
What was the outcome of the vote on executive compensation?
Shareholders approved the company's executive compensation for fiscal year 2023 on a non-binding advisory basis with a significant majority of 'For' votes (132,041,855).
How frequently will shareholders vote on executive compensation going forward?
Shareholders overwhelmingly approved holding a non-binding advisory vote on executive compensation annually, with 137,922,424 votes in favor of a one-year frequency.
Were the company's incentive and stock purchase plans approved?
Yes, shareholders approved both the amendment and restatement of the 2018 Omnibus Incentive Plan and the 2018 Employee Stock Purchase Plan.
04—Continue