Summary
This 8-K filing from ESSEX PROPERTY TRUST, INC. (ESS) reports on the outcome of a shareholder vote at the company's Annual Meeting held on May 25, 2017. The primary focus is the shareholder advisory vote on the frequency of executive compensation reviews. A majority of voting shareholders approved holding these advisory votes on an annual basis. Consequently, the company has committed to conducting an annual advisory vote on the compensation of its named executive officers until the next such frequency vote.
Key Highlights
- 1Shareholders voted at the Annual Meeting on May 25, 2017.
- 2A key proposal concerned the frequency of advisory votes on executive compensation.
- 3A majority of voting shareholders favored holding executive compensation advisory votes annually.
- 4ESSEX PROPERTY TRUST, INC. will comply with the shareholder vote and hold annual advisory votes on executive compensation.
- 5This commitment is in line with the company's previous recommendation.
- 6The company will continue annual advisory votes until the next vote on frequency is held.
Frequently Asked Questions
The main purpose of this 8-K filing was to report the results of a shareholder vote at ESSEX PROPERTY TRUST, INC.'s Annual Meeting, specifically concerning the frequency of advisory votes on executive compensation.
Shareholders voted on how often advisory votes on the compensation of the company's named executive officers should be held. The options were typically one, two, or three years.
A majority of the shareholders who cast votes supported holding these advisory votes on an annual basis (every year).
Essex Property Trust has committed to holding an advisory vote on the compensation of its named executive officers every year, consistent with the shareholder majority's decision.