Summary
Ford Motor Company (F) filed an 8-K/A amendment on June 13, 2017, to provide definitive results for a non-binding advisory vote on the frequency of "say on pay" proposals at its 2017 Annual Meeting. The overwhelming majority of votes cast favored holding "say on pay" votes on an annual basis. This filing confirms Ford's intention to continue with annual "say on pay" advisory votes, aligning with the board's recommendation and the strong shareholder preference indicated by the voting results. The next advisory vote on this frequency will occur no later than the 2023 Annual Meeting.
Key Highlights
- 1Ford Motor Company filed an 8-K/A amendment on June 13, 2017.
- 2The filing provides definitive results of the "say on pay" frequency advisory vote from the 2017 Annual Meeting.
- 3A significant majority of shares (4,452,668,344) voted for an annual "say on pay" vote.
- 4Only a small percentage of shares voted for biennial (20,128,262) or triennial (284,196,272) "say on pay" votes.
- 5The company will hold "say on pay" advisory votes annually until the next frequency vote.
- 6The board of directors recommended an annual "say on pay" vote, which was supported by the shareholder outcome.
- 7The next advisory vote on the frequency of "say on pay" is required by the 2023 Annual Meeting.