8-KShareholder Matters

EDISON INTERNATIONAL 8-K Report, Shareholder Vote Results (Apr 28, 2014)

Filed April 28, 2014For Securities:EIX

Summary

This 8-K filing from Edison International (EIX) on April 28, 2014, details the outcomes of the company's and its subsidiary Southern California Edison Company's (SCE) Annual Meeting of Shareholders held on April 24, 2014. The primary focus of the report is the voting results on several key corporate governance matters. Importantly, all director nominees for both EIX and SCE were elected, and the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm was ratified by shareholders for both entities. Furthermore, shareholders provided advisory approval for the executive compensation plans of both EIX and SCE. However, a shareholder proposal seeking an independent Board Chairman for EIX did not pass. These results indicate strong shareholder support for the current board and auditor, as well as the company's executive compensation strategy, while also signaling a preference against a structural change in board leadership at EIX.

Key Highlights

  • 1All eleven director nominees for Edison International (EIX) were elected to the Board of Directors.
  • 2All twelve director nominees for Southern California Edison Company (SCE) were elected to the Board of Directors.
  • 3Shareholders of both EIX and SCE ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm.
  • 4An advisory vote on executive compensation for both EIX and SCE received shareholder approval.
  • 5A shareholder proposal requesting an Independent Board Chairman for EIX did not receive majority support and was therefore not adopted.

Frequently Asked Questions

The main outcomes were the election of all director nominees for both EIX and SCE, the ratification of PricewaterhouseCoopers LLP as the independent auditor, and shareholder approval of the advisory vote on executive compensation. A shareholder proposal for an independent EIX Board Chairman was not approved.

Yes, shareholders of both Edison International (EIX) and Southern California Edison Company (SCE) voted to ratify the appointment of PricewaterhouseCoopers LLP as their respective independent registered public accounting firms.

The advisory vote on executive compensation for both EIX and SCE was approved by shareholders. This indicates that shareholders generally support the compensation practices for the company's top executives.

No, the shareholder proposal requesting an independent Board Chairman for EIX did not receive the affirmative vote of a majority of the votes cast and was therefore not adopted.