Summary
This 8-K filing by Deere & Company reports on the outcomes of its Annual Meeting of Stockholders held on February 24, 2016. The primary focus for investors is the overwhelming support for the re-election of all director nominees and the ratification of Deloitte & Touche LLP as the independent auditor for fiscal year 2016. Additionally, shareholders provided advisory approval for the compensation of named executive officers, indicating general satisfaction with the company's compensation practices. The filing also highlights two proposals that were rejected by shareholders: a request for the Board of Directors to adopt a plan for net-zero greenhouse gas emissions by 2030 and a proposal for an annual congruency analysis of corporate values versus political contributions. The approval of a proxy access bylaw amendment is also noted, which allows for greater shareholder participation in director nominations under certain conditions.
Key Highlights
- 1All incumbent directors were overwhelmingly re-elected for terms expiring in 2017.
- 2Stockholders provided advisory approval for the compensation of the Company's named executive officers.
- 3Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year 2016.
- 4A proposal to adopt a proxy access amendment to the Company's Bylaws was approved by shareholders.
- 5A shareholder proposal requesting a net-zero greenhouse gas emission plan by 2030 was rejected.
- 6A shareholder proposal for an annual congruency analysis of corporate values and political contributions was rejected.