8-KShareholder Matters

Fox Corp 8-K Report, Shareholder Vote Results (Nov 12, 2020)

Filed November 12, 2020For Securities:FOXAFOX

Summary

Fox Corporation (FOXA) filed an 8-K on November 12, 2020, detailing the results of its Annual Meeting of Stockholders. The primary purpose of the filing was to report on the voting outcomes for several key proposals, including the election of directors, ratification of the independent auditor, and advisory approval of executive compensation. All proposals presented to shareholders passed with significant support, indicating broad investor confidence in the company's current direction and governance.

Key Highlights

  • 1All nominated directors were overwhelmingly elected to the board, with strong "For" votes for each candidate, including K. Rupert Murdoch and Lachlan K. Murdoch.
  • 2The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2021, was ratified by a substantial majority of votes.
  • 3Shareholders provided advisory approval of the company's named executive officer compensation, with a significant "For" vote, suggesting satisfaction with the executive pay structure.
  • 4The voting outcomes demonstrate broad stockholder support for the company's leadership and key operational decisions.
  • 5The filing confirms the routine annual governance activities and the approval of essential corporate functions like auditing.
  • 6A notable number of broker non-votes were present for the director elections and executive compensation vote, which is typical for many large-cap companies.

Frequently Asked Questions

Yes, all nominated directors, including K. Rupert Murdoch and Lachlan K. Murdoch, were elected to the board with a substantial majority of "For" votes.

Yes, the selection of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2021, was ratified by shareholders with overwhelming support.

Yes, the proposal to approve, on an advisory, nonbinding basis, the compensation of named executive officers passed with a significant majority of "For" votes.

Broker non-votes occur when a broker holding shares in 'street name' for a client has not received instructions on how to vote on a particular proposal. While these shares are counted for quorum purposes, they are not cast for or against the proposal. The presence of broker non-votes is common and does not necessarily indicate dissatisfaction with the proposals themselves.