8-KShareholder Matters

DTE ENERGY CO 8-K Report, Shareholder Vote Results (May 10, 2016)

Filed May 10, 2016For Securities:DTEDTKDTBDTGDTW

Summary

This 8-K filing from DTE Energy Co. (DTE) details the outcomes of its Annual Meeting of Security Holders held on May 5, 2016. The report confirms the election of all director nominees for a one-year term, with substantial "For" votes exceeding "Withheld" and "Broker Non-Votes" for each candidate. Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2016 and approved the company's executive compensation on an advisory basis. However, two shareholder proposals, one concerning political contributions disclosure and another regarding distributed generation, did not receive majority support from the shareholders.

Key Highlights

  • 1All director nominees were successfully elected to the Board of Directors for a one-year term expiring in 2017.
  • 2PricewaterhouseCoopers LLP was ratified as the Company's independent registered public accounting firm for the fiscal year 2016.
  • 3Shareholders approved, on an advisory basis, the executive compensation of the Company's named executive officers.
  • 4A shareholder proposal requesting disclosure of political contributions did not pass.
  • 5A shareholder proposal related to distributed generation did not pass.
  • 6The voting results for director elections showed strong support, with 'For' votes significantly outnumbering 'Withheld' votes and substantial 'Broker Non-Votes' across all nominees.

Frequently Asked Questions

Yes, all director nominees named in the Proxy statement were elected to serve as directors of the Company for a one-year term expiring in 2017. The voting results showed strong approval for each nominee.

Yes, shareholders ratified the appointment of PricewaterhouseCoopers LLP as DTE Energy's independent registered public accounting firm for the year 2016. The vote in favor was overwhelmingly strong.

Yes, on an advisory basis, shareholders approved the overall executive compensation paid to the Company's named executive officers. The proposal received a majority of the votes cast in favor.

Yes, two shareholder proposals failed to gain approval. These were a proposal relating to political contributions disclosure and a proposal concerning distributed generation. Both proposals received more votes against them than in favor.