Summary
This 8-K filing from Harris Corporation details the outcomes of their 2014 Annual Meeting of Shareholders held on October 24, 2014. Key events include the retirement of director Stephen P. Kaufman in accordance with the company's retirement policy and the voting results on several proposals. Shareholders overwhelmingly approved the election of twelve director nominees, the advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2015. The filing also notes a $10,000 increase to the annual stock equivalent awards for outside directors, effective January 1, 2015.
Key Highlights
- 1Stephen P. Kaufman retired as a director, adhering to the company's director retirement policy.
- 2All twelve nominated directors were elected by shareholders for a one-year term.
- 3Shareholders approved, on an advisory basis, the compensation of named executive officers with strong support.
- 4Ernst & Young LLP was ratified as the independent registered public accounting firm for fiscal year 2015.
- 5Annual compensation for outside directors will increase by $10,000 to $135,000 in stock equivalent units, effective January 1, 2015.
- 6Approximately 84.72% of outstanding shares were represented at the shareholder meeting, indicating strong shareholder engagement.