01—Abstract
Summary
Summary of the 8-K filed January 30, 2024. Cited figures are marked; the original filing is the authoritative source.
Jabil Inc. held its Annual Meeting of Stockholders on January 25, 2024, and this Current Report on Form 8-K, filed January 30, 2024, under Item 5.07 (Submission of Matters to a Vote of Security Holders), reports the voting results for five proposals.
All ten director nominees were elected to serve until the next annual meeting or until their successors are duly elected and qualified. For example, Anousheh Ansari received 106,640,175 FOR votes and 727,630 AGAINST votes, while John C. Plant received 65,026,864 FOR votes and 42,345,037 AGAINST votes, the weakest director result in the filing.
Stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending August 31, 2024, with 116,299,207 votes FOR, 933,085 AGAINST and 587,889 ABSTAIN. On an advisory basis, stockholders approved the executive compensation program, with 105,235,715 FOR, 2,088,300 AGAINST and 151,461 ABSTAIN. Stockholders also favored holding future advisory votes on executive compensation every one year, with 104,292,529 votes for that frequency, which the Company said is consistent with the Board's recommendation and means it will continue to hold an annual advisory vote.
A stockholder proposal titled "Adopt a Shareholder Right to Call a Special Shareholder Meeting" was reported as approved, with 59,517,468 FOR, 47,802,460 AGAINST and 155,548 ABSTAIN. The filing reports 10,344,705 non-votes on each proposal, and no other matters are described.
02—Key points
Key Highlights
- Annual Meeting held January 25, 2024; all ten director nominees were elected to serve until the next annual meeting or until successors are duly elected and qualified.
- John C. Plant had the lowest director support in the filing, with 65,026,864 FOR votes against 42,345,037 AGAINST votes; Steven A. Raymund received 91,104,709 FOR and 16,262,797 AGAINST.
- Ernst & Young LLP was ratified as independent registered public accounting firm for the fiscal year ending August 31, 2024 (116,299,207 FOR; 933,085 AGAINST; 587,889 ABSTAIN).
- Advisory say-on-pay was approved with 105,235,715 FOR and 2,088,300 AGAINST votes.
- Stockholders voted for a one-year frequency (104,292,529 votes) for future advisory executive compensation votes, and the Company will continue annual advisory votes consistent with the Board's recommendation.
- The stockholder proposal "Adopt a Shareholder Right to Call a Special Shareholder Meeting" was reported as approved, with 59,517,468 FOR and 47,802,460 AGAINST votes.
- The Company's Proxy Statement, dated December 12, 2023, governed the five proposals presented for vote.
03—Questions
Frequently Asked Questions
Who was elected to Jabil's Board of Directors at the January 2024 annual meeting?
Ten individuals were elected as directors: Anousheh Ansari, Christopher S. Holland, Mark T. Mondello, John C. Plant, Steven A. Raymund, James Siminoff, David M. Stout, N. V. "Tiger" Tyagarajan, Kathleen A. Walters and Kenneth S. Wilson. Each will serve until the next annual meeting or until a successor is duly elected and qualified.
Which auditor did stockholders approve for the current fiscal year?
Stockholders ratified Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending August 31, 2024, with 116,299,207 votes FOR, 933,085 AGAINST and 587,889 ABSTAIN.
Did stockholders approve Jabil's executive compensation?
Yes. On an advisory basis, executive compensation was approved with 105,235,715 votes FOR, 2,088,300 AGAINST, 151,461 ABSTAIN and 10,344,705 non-votes.
How often will Jabil hold advisory votes on executive compensation?
Stockholders favored a one-year frequency, with 104,292,529 votes, compared with 38,045 votes for two years and 3,060,433 votes for three years. The Company said the results are consistent with the Board's recommendation and it will continue to hold an annual advisory vote.
What happened with the stockholder proposal on calling special shareholder meetings?
The proposal "Adopt a Shareholder Right to Call a Special Shareholder Meeting" was reported as approved, with 59,517,468 votes FOR, 47,802,460 AGAINST and 155,548 ABSTAIN, and 10,344,705 non-votes.
04—Continue