8-KShareholder Matters

TechnipFMC plc 8-K Report, Shareholder Vote Results (Jun 15, 2018)

Filed June 15, 2018For Securities:FTI

Summary

This 8-K filing from TechnipFMC plc details the outcomes of its Annual General Meeting of Shareholders held on June 14, 2018. The primary focus of the report is the voting results on several key proposals, including the approval of audited U.K. accounts for the fiscal year ended December 31, 2017, and the ratification of PricewaterhouseCoopers LLP (PwC) as the company's auditor for both U.S. and U.K. purposes for the fiscal year ending December 31, 2018. The results indicate strong shareholder support for these foundational corporate governance matters. Notably, shareholders overwhelmingly approved the receipt of the 2017 audited U.K. accounts and the appointment and remuneration of PwC as auditor, with approval percentages exceeding 99% in most cases. While advisory votes on executive and director compensation saw lower, though still majority, support (ranging from 73.9% to 76.7%), these outcomes suggest general shareholder confidence in the company's financial reporting and audit oversight. The approval of a prospective directors' remuneration policy for the next three years also signals a forward-looking approach to corporate governance.

Key Highlights

  • 1Shareholders overwhelmingly approved the company's audited U.K. accounts for the year ended December 31, 2017 (99.9% FOR).
  • 2PricewaterhouseCoopers LLP (PwC) was ratified as the U.S. independent registered public accounting firm for 2018 (99.2% FOR).
  • 3PwC was re-appointed as the U.K. statutory auditor for the upcoming fiscal year (99.4% FOR).
  • 4Shareholders authorized the Board and Audit Committee to determine PwC's remuneration for the U.K. statutory auditor role for 2018 and ratified 2017 remuneration (99.9% FOR).
  • 5An advisory vote to approve the company's named executive officer compensation for 2017 received majority support (73.9% FOR).
  • 6An advisory vote to approve the company's directors' remuneration report for 2017 also received majority support (74.7% FOR).
  • 7The company's prospective directors' remuneration policy for the three years ending December 2021 was approved (76.7% FOR).

Frequently Asked Questions

The Annual General Meeting of TechnipFMC plc's shareholders was held on June 14, 2018, to vote on several key matters including receiving the audited U.K. accounts for 2017, advisory votes on executive and director compensation, approving a new directors' remuneration policy, and ratifying the appointment and remuneration of PricewaterhouseCoopers LLP (PwC) as the company's auditor for both U.S. and U.K. purposes for the fiscal year ending December 31, 2018.

Yes, shareholders overwhelmingly approved the receipt of TechnipFMC plc's audited U.K. accounts for the year ended December 31, 2017, with approximately 99.9% of the votes cast being in favor.

Shareholders strongly supported the company's choice of auditor. PricewaterhouseCoopers LLP (PwC) was ratified as the U.S. independent registered public accounting firm for 2018 with 99.2% of votes in favor, and re-appointed as the U.K. statutory auditor with 99.4% of votes in favor. Additionally, shareholders authorized the Board and Audit Committee to determine PwC's remuneration for its U.K. auditor role.

Votes on executive and director compensation were advisory. The named executive officer compensation for 2017 was approved by 73.9% of the votes, and the directors' remuneration report for 2017 was approved by 74.7% of the votes. The prospective directors' remuneration policy for the next three years received slightly higher support at 76.7%.