Summary
This 8-K filing from Lockheed Martin Corporation (LMT) reports the results of its Annual Meeting of Stockholders held on April 26, 2018. The meeting saw a strong quorum of 91.9% of outstanding shares, indicating significant shareholder engagement. Key outcomes include the re-election of all eleven directors, the ratification of Ernst & Young LLP as the independent auditor for 2018, and approval of the Amended and Restated Directors Equity Plan. Additionally, shareholders provided advisory approval for the compensation of named executive officers and rejected a proposal to adopt stockholder action by written consent.
Key Highlights
- 1All eleven incumbent directors were overwhelmingly re-elected, demonstrating shareholder confidence in the current board's leadership.
- 2Ernst & Young LLP was ratified as the independent auditor for the fiscal year ending December 31, 2018.
- 3The Amended and Restated Directors Equity Plan was approved by a majority of votes cast.
- 4Shareholders provided advisory approval for the compensation of Lockheed Martin's named executive officers (Say-on-Pay), indicating general satisfaction with executive compensation practices.
- 5A proposal to allow for stockholder action by written consent was rejected, suggesting shareholders prefer traditional annual meeting processes for significant decisions.
- 6A high percentage of outstanding shares (91.9%) were represented at the meeting, highlighting robust shareholder participation.
- 7The filing includes the Amended and Restated Directors Equity Plan as an exhibit.