Summary
This 8-K filing reports the results of Expeditors International of Washington, Inc.'s (EXPD) annual shareholder meeting held on May 8, 2018. The primary focus of the meeting was the election of directors and advisory votes on corporate governance matters. Investors can note that all ten director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board leadership. Furthermore, shareholders provided an advisory vote to approve the compensation of the company's Named Executive Officers, which also passed with a significant majority. The appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2018, was ratified. However, two shareholder proposals, one to link executive compensation to sustainability performance and another to enhance shareholder proxy access, did not receive majority support from the shareholders.
Key Highlights
- 1All ten director nominees were elected by a substantial majority of votes.
- 2Shareholders approved, on an advisory basis, the compensation of the company's Named Executive Officers.
- 3The appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2018 was ratified.
- 4A shareholder proposal to link executive compensation to sustainability performance was not approved.
- 5A shareholder proposal to enhance shareholder proxy access did not receive majority support.
- 6No other business was transacted at the annual meeting.
- 7The voting results indicate broad shareholder support for the company's current board and executive compensation structure.