Summary
Quest Diagnostics Inc. (DGX) filed an 8-K on August 21, 2017, to report the outcome of a vote at its 2017 Annual Meeting of Stockholders. The primary matter addressed was the frequency of advisory votes on executive compensation. Stockholders overwhelmingly supported holding this advisory vote on an annual basis, aligning with the recommendation of the Board of Directors. Consequently, the Board has determined that the company will continue with annual advisory votes on executive compensation.
Key Highlights
- 1Stockholders voted to hold advisory votes on executive compensation annually.
- 2This decision aligns with the recommendation of Quest Diagnostics' Board of Directors.
- 3The company will continue with annual advisory votes on executive compensation.
- 4The Board considered the results of the stockholder vote in making its determination.
- 5Quest Diagnostics is required to hold frequency votes at least every six years.
Frequently Asked Questions
The main purpose of this 8-K filing was to report the results of the stockholder vote at the 2017 Annual Meeting regarding the frequency of advisory votes on executive compensation.
Stockholders voted on the frequency of advisory (non-binding) votes on executive compensation. The options were typically annually, every two years, or every three years. The vote was to recommend how often these advisory votes should occur.
A majority of the votes cast were in favor of conducting the advisory vote on executive compensation annually.
Quest Diagnostics will continue to hold an annual advisory vote on executive compensation until the next required vote on frequency, which must occur no less than every six years.