8-KShareholder Matters

FTAI Aviation Ltd. 8-K Report, Shareholder Vote Results (Jun 19, 2020)

Filed June 19, 2020For Securities:FTAIFTAIMFTAIN

Summary

This 8-K filing from FTAI Aviation Ltd. (FTAI), formerly Fortress Transportation and Infrastructure Investors LLC, reports on the outcomes of its 2020 Annual Meeting of Shareholders held on June 19, 2020. The key events disclosed are the election of Class II directors and the ratification of the company's independent registered public accounting firm. Investors can gain insight into shareholder confidence and corporate governance through these voting results.

Key Highlights

  • 1FTAI Aviation Ltd. shareholders elected three Class II directors: Joseph P. Adams, Jr., Judith A. Hannaway, and Martin Tuchman. These directors will serve until the 2023 Annual Meeting.
  • 2All three elected directors received a significant majority of 'Votes For', indicating strong shareholder support for the nominees.
  • 3A notable number of 'Broker Non-Votes' were recorded for the director elections (17,397,542 for each nominee), which is standard for non-routine matters under NYSE rules when beneficial owners do not provide voting instructions.
  • 4The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020, was ratified by shareholders.
  • 5The ratification of Ernst & Young LLP received an overwhelming majority of 'Votes For' (60,138,413), with very few 'Votes Against' (62,014) and 'Abstentions' (60,651), suggesting broad shareholder confidence in the company's auditors.
  • 6The results reflect typical shareholder voting patterns for board elections and auditor ratifications, with directors generally supported and auditors receiving widespread approval.

Frequently Asked Questions

The Class II directors elected at the 2020 Annual Meeting of Shareholders were Joseph P. Adams, Jr., Judith A. Hannaway, and Martin Tuchman. They will serve until the 2023 Annual Meeting of Shareholders.

'Broker Non-Votes' occur when a broker holding shares in 'street name' for a beneficial owner does not receive voting instructions. Under NYSE rules, brokers are prohibited from voting on non-routine matters like director elections without such instructions. This does not reflect a negative vote but rather an abstention due to lack of instruction.

Yes, the appointment of Ernst & Young LLP as FTAI Aviation Ltd.'s independent registered public accounting firm for the fiscal year ending December 31, 2020, was ratified by an overwhelming majority of shareholders.

Shareholder support for the elected directors was strong. For example, Joseph P. Adams, Jr. received 41,243,112 'Votes For' compared to 1,620,424 'Votes Withheld'. The other nominees also received substantial 'Votes For' relative to 'Votes Withheld'.