Summary
L3Harris Technologies, Inc. (LHX) filed an 8-K on April 25, 2022, reporting key outcomes from its 2022 Annual Meeting of Shareholders held on April 22, 2022. The primary focus for investors is the shareholder approval to increase the size of the Board of Directors from thirteen to fifteen members. This change, approved by a significant majority of shareholders, allows for greater flexibility in board composition and governance as the company continues to grow and evolve. Additionally, the filing confirms the election of thirteen directors and provides detailed voting results for other proposals, including an advisory vote on executive compensation and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2022. All proposals presented to shareholders were approved, reflecting continued confidence in the company's leadership and strategic direction.
Key Highlights
- 1Shareholders approved an amendment to the Restated Certificate of Incorporation to increase the maximum number of Board of Directors seats from thirteen to fifteen.
- 2The Board of Directors' By-Laws were also amended to reflect the increase in the maximum number of Board seats.
- 3All thirteen nominated directors were elected to the Board for a one-year term.
- 4Shareholders provided an advisory vote to approve the compensation of the company's Named Executive Officers.
- 5The appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2022 was ratified by shareholders.
- 6A high quorum of approximately 91.61% of outstanding shares was represented at the virtual-only Annual Meeting.