8-KShareholder Matters

EVERSOURCE ENERGY 8-K Report, Shareholder Vote Results (May 3, 2013)

Filed May 3, 2013For Securities:ES

Summary

This Form 8-K filed by Northeast Utilities (now Eversource Energy) on May 3, 2013, reports the results of its Annual Meeting of Shareholders held on May 1, 2013. The primary purpose of the filing is to detail the voting outcomes on key corporate governance matters. Investors can take comfort in the strong shareholder support for the election of all 14 director nominees and the ratification of Deloitte & Touche LLP as the independent registered public accountants for 2013. The advisory vote on executive compensation also received a significant majority in favor, indicating general shareholder approval of the compensation structure for 2012.

Key Highlights

  • 1All 14 director nominees were elected to the Board of Trustees with a substantial majority of votes.
  • 2Shareholders approved, on an advisory basis, the compensation of the Company's 2012 Named Executive Officers with 86.59% of votes cast in favor.
  • 3The selection of Deloitte & Touche LLP as the independent registered public accountants for 2013 was ratified by shareholders.
  • 4A quorum was established with 267,655,724.64 common shares represented at the meeting, out of 314,544,799 outstanding.
  • 5The filing details the votes for, against, withheld, and broker non-votes for each director nominee.
  • 6Significant broker non-votes were recorded for all director elections and the executive compensation proposal, which is typical for routine annual meetings.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report the official results of Northeast Utilities' (now Eversource Energy) Annual Meeting of Shareholders, which took place on May 1, 2013. It details the shareholder votes on the election of trustees, advisory approval of executive compensation, and ratification of independent auditors.

Shareholders overwhelmingly supported the election of all 14 nominees to the Board of Trustees. Each nominee received a significant majority of the outstanding common shares voted in their favor, indicating strong confidence in the board's composition.

While the advisory vote on executive compensation received strong support (86.59% in favor), there was a notable percentage of votes against it (13.41%). This suggests that while most shareholders approved of the 2012 compensation, a minority had concerns.

The shareholders ratified the selection of Deloitte & Touche LLP as the independent registered public accountants for 2013. This is a standard item on the agenda for annual shareholder meetings.