8-KShareholder Matters

FISERV INC 8-K Report, Shareholder Vote Results (May 22, 2019)

Filed May 22, 2019For Securities:FISV

Summary

This 8-K filing from Fiserv, Inc. (FISV) on May 22, 2019, reports the results of its annual shareholder meeting. The key takeaway for investors is the overwhelmingly strong support for the company's directors, its employee stock purchase plan, and executive compensation, indicating shareholder confidence in the current leadership and operational strategies. Shareholders also ratified the appointment of Deloitte & Touche LLP as the independent auditor, which is standard practice and important for financial transparency. Notably, a shareholder proposal requesting a political contribution report was rejected by a significant margin, suggesting that the majority of shareholders are comfortable with the company's current disclosure practices regarding political contributions.

Key Highlights

  • 1All ten nominated directors were overwhelmingly elected, with 'Votes For' significantly exceeding 'Votes Withheld' and 'Broker Non-Votes' for each director.
  • 2The Fiserv, Inc. Amended and Restated Employee Stock Purchase Plan was approved by a substantial majority of shareholders.
  • 3Shareholders provided advisory approval for the compensation of named executive officers, demonstrating confidence in the compensation structure.
  • 4The appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2019, was ratified.
  • 5A shareholder proposal seeking a political contribution report was rejected, with 'Votes Against' far outweighing 'Votes For'.

Frequently Asked Questions

The key outcomes include the election of all ten directors, approval of the Amended and Restated Employee Stock Purchase Plan, advisory approval of executive compensation, ratification of the independent auditor (Deloitte & Touche LLP), and rejection of a shareholder proposal for a political contribution report.

Yes, shareholders overwhelmingly elected all directors and approved, on an advisory basis, the compensation of named executive officers. This indicates strong shareholder confidence in the company's leadership and their pay structure.

The shareholder proposal requesting a political contribution report was rejected by a significant margin. The number of votes against the proposal substantially exceeded the number of votes in favor.

Fiserv's independent auditor is Deloitte & Touche LLP. Their appointment for the year ending December 31, 2019, was ratified by the shareholders.