What was the most significant governance change approved by MetLife stockholders at the 2011 Annual Meeting?

The most significant governance change approved was the proposal to amend the Company's Certificate of Incorporation to declassify the Board of Directors. This means that going forward, all directors will be elected annually by stockholders, rather than serving staggered terms.

What was the outcome of the advisory vote on executive compensation ('say-on-pay')?

Stockholders approved, on an advisory basis, the compensation paid to MetLife's Named Executive Officers. The vote showed strong support for the executive compensation as disclosed.

What decision was made regarding the frequency of future 'say-on-pay' votes?

Stockholders voted on the frequency of future advisory votes on executive compensation. The majority of votes favored a one-year frequency, meaning stockholders preferred to have this advisory vote annually. However, the company stated that the Board of Directors will make the final determination, which will be disclosed within 150 days of the annual meeting.

Who was elected as directors and for what terms?

Steven A. Kandarian was elected as a Class II Director for a term expiring at the Company's 2013 Annual Meeting. Sylvia Mathews Burwell, Eduardo Castro-Wright, Cheryl W. Gris, and Lulu C. Wang were elected as Class III Directors, each for a term expiring at the Company's 2014 Annual Meeting.

METLIFE INC 8-K: Shareholder Matters

Summary

MetLife Inc. (MET) filed an 8-K on April 29, 2011, detailing the outcomes of its annual stockholder meeting held on April 26, 2011. The primary focus of this filing is the voting results on several key corporate governance and executive compensation matters. Stockholders overwhelmingly approved the proposal to declassify the Board of Directors, a significant governance change that will transition the board to annual elections for all directors. Additionally, the appointment of Deloitte & Touche LLP as the independent auditor for 2011 was ratified, and the compensation of Named Executive Officers was approved on an advisory basis. The meeting also included an advisory vote on the frequency of future executive compensation "say-on-pay" votes. While stockholders voted in favor of a one-year frequency, the company will publicly disclose its Board's determination on this matter within 150 days. The election of directors also saw strong support for all nominees presented, indicating general stockholder confidence in the current leadership.

Key Highlights

1Stockholders approved the declassification of MetLife's Board of Directors, moving towards annual election of all directors.
2The appointment of Deloitte & Touche LLP as the independent auditor for 2011 was ratified by security holders.
3An advisory vote to approve the compensation of Named Executive Officers received strong support from stockholders.
4An advisory vote on the frequency of future 'say-on-pay' votes resulted in a preference for annual voting (1 year), though the final determination is pending.
5All director nominees for Class II and Class III terms were elected with substantial 'for' votes.
6The filing provides detailed vote counts for each proposal, including votes for, against, withheld, abstentions, and broker non-votes.

METLIFE INC 8-K Report, Shareholder Vote Results (Apr 29, 2011)

Summary

Key Highlights

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