Summary
Chevron Corporation (CVX) filed an 8-K on May 29, 2020, detailing the results of its 2020 Annual Meeting of Stockholders held on May 27, 2020. The meeting's primary focus was on voting for the Board of Directors, ratifying the independent auditor, and advisory votes on executive compensation and various stockholder proposals. All director nominees were elected with strong support, and the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2020 was overwhelmingly ratified. The advisory vote on executive compensation also received majority approval from stockholders.
Key Highlights
- 1All director nominees for the Chevron Board of Directors were elected for one-year terms, with strong majority support in each case.
- 2PricewaterhouseCoopers LLP was ratified as Chevron's independent registered public accounting firm for 2020, receiving approximately 96.6% of the votes cast.
- 3Stockholders approved, on an advisory basis, the compensation of Chevron's named executive officers with approximately 92.4% of the votes cast in favor.
- 4A stockholder proposal requesting a report on lobbying activities was not approved, with approximately 71.4% of the votes cast against it.
- 5A stockholder proposal for a report on climate lobbying was approved, receiving approximately 53.5% of the votes cast in favor.
- 6Several other stockholder proposals, including those related to climate risk, petrochemical risk, human rights, special meeting thresholds, and independent board chair, did not receive majority approval.