8-KLeadership ChangesShareholder MattersOther Events+1

Edwards Lifesciences Corp 8-K Report, Executive Changes (May 16, 2011)

Filed May 16, 2011For Securities:EW

Summary

This 8-K filing from Edwards Lifesciences Corporation details the outcomes of their 2011 Annual Meeting of Stockholders held on May 12, 2011. Key among these is the approval of the Amended and Restated Long-Term Stock Incentive Compensation Program, which includes an increase of 1,500,000 shares available for issuance. This move is designed to provide continued equity-based incentives for executive and employee compensation, a common practice for aligning management and shareholder interests. Additionally, the report outlines the results of director elections, approval of executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2011. The company also announced a change in its Board leadership, with Wesley W. von Schack appointed as Presiding Director. For investors, these events signal ongoing corporate governance practices and continued efforts to attract and retain talent through equity compensation.

Key Highlights

  • 1Stockholders approved the Amended and Restated Long-Term Stock Incentive Compensation Program.
  • 2The approved program increases the total number of shares available for issuance by 1,500,000.
  • 3Two directors, John T. Cardis and David E. I. Pyott, were elected to the Board for three-year terms.
  • 4Stockholders approved the compensation of named executive officers in a non-binding advisory vote.
  • 5The appointment of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2011 was ratified.
  • 6Wesley W. von Schack was appointed as the Presiding Director of the Board of Directors.

Frequently Asked Questions

The primary purpose of the amendment is to increase the number of shares available for issuance under the program, allowing the company to continue to offer equity-based compensation to its employees and executives, which is a common strategy for incentivizing performance and retention.

The compensation of the company's named executive officers was approved by stockholders in a non-binding advisory vote with a significant majority (89,848,705 For, 4,103,201 Against, 188,557 Abstain, 8,439,908 Broker Non-Votes).

The company's stockholders recommended an annual vote on the compensation of named executive officers, and the company has stated it will include a non-binding advisory stockholder vote on executive compensation in its proxy materials every year.

Wesley W. von Schack was selected as the Presiding Director, succeeding Mike R. Bowlin.