Summary
This 8-K/A filing from Digital Realty Trust, Inc. (DLR) provides an update on a shareholder vote concerning the frequency of advisory votes on executive compensation. The company's stockholders previously voted at the May 8, 2017 Annual Meeting to approve holding this advisory vote on executive compensation on a "say-on-pay" basis once every year. This decision aligns with the majority shareholder sentiment and will be implemented until the next shareholder vote on frequency, which is expected no later than the 2023 annual meeting.
Key Highlights
- 1Shareholders voted to hold advisory votes on executive compensation annually.
- 2The Board of Directors has accepted the shareholder decision for annual "say-on-pay" votes.
- 3This policy will remain in effect until at least the 2023 annual meeting of stockholders.
- 4The filing is an amendment (8-K/A) to a previous report, confirming the outcome of the vote.
- 5The event date associated with the vote was May 8, 2017.
Frequently Asked Questions
The main purpose of this filing is to officially report the outcome of a shareholder vote held at the May 8, 2017 Annual Meeting regarding the frequency of advisory votes on executive compensation, confirming the decision for an annual vote.
A 'say-on-pay' vote is a non-binding shareholder vote on the compensation of the company's top executives. While not binding, it provides an indication of shareholder sentiment on executive pay practices.
The company has determined that an advisory vote on executive compensation will be held annually until the next required advisory vote on the frequency of such votes, which is expected to occur no later than the Company's annual meeting of stockholders in 2023.