8-KShareholder Matters

HORTON D R INC /DE/ 8-K Report, Shareholder Vote Results (Jan 24, 2014)

Filed January 24, 2014For Securities:DHI

Summary

This 8-K filing from D.R. Horton, Inc. (DHI) reports on the results of its Annual Meeting of Stockholders held on January 23, 2014. The key outcomes involved the election of directors, an advisory vote on executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2014. Investors can take comfort in the strong shareholder support demonstrated across all three proposals.

Key Highlights

  • 1All six director nominees were overwhelmingly elected by shareholders to serve until the 2015 Annual Meeting.
  • 2Shareholders provided strong advisory approval for the company's executive compensation practices.
  • 3The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2014 was ratified with substantial support.
  • 4A significant majority of the eligible shares (approximately 87%) were represented at the Annual Meeting, indicating strong shareholder engagement.
  • 5The voting results show broad consensus among shareholders on the company's governance and oversight.
  • 6Broker non-votes were present on director elections and executive compensation, a common occurrence where shares are held in "street name" and the beneficial owner has not provided voting instructions.

Frequently Asked Questions

The Annual Meeting of Stockholders considered three main proposals: (1) the election of six director nominees, (2) an advisory vote on executive compensation, and (3) the ratification of the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for fiscal year 2014.

Shareholders overwhelmingly elected all six director nominees. For example, Donald R. Horton received approximately 241.2 million "For" votes compared to about 12.4 million "Against" votes.

Yes, shareholders provided advisory approval for the company's executive compensation. The "For" votes significantly outnumbered the "Against" votes, with approximately 241 million "For" votes.

Yes, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for fiscal year 2014. This proposal received very strong support with over 281 million "For" votes.