Summary
Danaher Corporation (DHR) has filed an 8-K detailing the elimination of its Series A and Series B Mandatory Convertible Preferred Stock following their complete conversion. This action formalizes the cessation of these preferred stock series, as no outstanding shares remained after their mandatory conversion dates in April 2022 and April 2023, respectively. This corporate housekeeping item simplifies the company's capital structure by removing these instruments from its charter. Additionally, the filing reports on the outcomes of Danaher's annual shareholder meeting held on May 9, 2023. Key to investors, all nominated directors were overwhelmingly elected, and the company's selection of Ernst & Young LLP as its independent auditor for 2023 was ratified with strong shareholder support. Shareholder approval was also given for executive compensation on an advisory basis, with a clear preference for annual advisory votes on this matter. Notably, shareholder proposals requesting the separation of Chair and CEO roles and a report on DEI efforts were not approved.
Key Highlights
- 1Danaher Corporation has officially eliminated its 4.75% Series A and 5.00% Series B Mandatory Convertible Preferred Stock, as all shares have been converted.
- 2The elimination of these preferred stock series simplifies the company's capital structure and removes them from its charter.
- 3All fourteen director nominees were elected at the annual shareholder meeting held on May 9, 2023, with substantial majority votes.
- 4Shareholders ratified the appointment of Ernst & Young LLP as Danaher's independent registered public accounting firm for the fiscal year ending December 31, 2023.
- 5An advisory vote on executive compensation received strong shareholder approval.
- 6Shareholders voted in favor of holding an annual advisory vote on executive compensation.
- 7Shareholder proposals for separating the Chair and CEO roles and for a DEI efforts report were not approved.