8-KShareholder Matters

EDISON INTERNATIONAL 8-K Report, Shareholder Vote Results (Apr 27, 2018)

Filed April 27, 2018For Securities:EIX

Summary

This 8-K filing reports on the results of Edison International's (EIX) and Southern California Edison Company's (SCE) Annual Meeting of Shareholders held on April 26, 2018. The primary outcomes were the election of directors to both boards, the ratification of the independent registered public accounting firm, and an advisory vote on executive compensation, all of which passed with significant shareholder support. These results indicate continued shareholder confidence in the current leadership and governance of EIX and SCE. Notably, a shareholder proposal seeking enhanced proxy access for EIX shareholders was not adopted, failing to garner majority support. This outcome suggests that while shareholders approved routine corporate matters, they did not endorse this particular change to proxy access mechanisms at this time. Investors should view the overwhelming approval of directors and accounting firms as a sign of stability, while the rejection of the proxy access proposal highlights a specific area where shareholder sentiment diverged from the proposal's intent.

Key Highlights

  • 1All ten director nominees for Edison International (EIX) and all eleven director nominees for Southern California Edison Company (SCE) were elected by shareholders.
  • 2Shareholders overwhelmingly ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for both EIX and SCE.
  • 3The advisory vote on executive compensation for both EIX and SCE received majority approval from shareholders.
  • 4The election of directors for both EIX and SCE saw substantial 'for' votes, with minimal opposition and abstentions.
  • 5The ratification of the independent auditor also passed with very strong affirmative votes.
  • 6A shareholder proposal for enhanced proxy access at 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 EIX and SCE, the ratification of the independent auditor (PricewaterhouseCoopers LLP) for both companies, and the approval of an advisory vote on executive compensation for both companies. Additionally, a shareholder proposal for enhanced proxy access at EIX was not adopted.

Yes, shareholders of both EIX and SCE voted to ratify the appointment of PricewaterhouseCoopers LLP as their respective independent registered public accounting firm. The ratification received strong affirmative votes from both companies' shareholders.

The shareholder proposal concerning enhanced shareholder proxy access for EIX did not pass. It failed to receive the affirmative vote of a majority of the votes cast by EIX shareholders.

Shareholders of both EIX and SCE approved the advisory vote on executive compensation. Both proposals received the affirmative vote of at least a majority of the votes cast, indicating general shareholder satisfaction with the executive compensation plans presented.