Summary
NextEra Energy, Inc. (NEE) filed an 8-K on May 25, 2011, primarily detailing the outcomes of its 2011 Annual Meeting of Shareholders held on May 20, 2011. The most significant development for investors is the shareholder approval of the NextEra Energy, Inc. 2011 Long Term Incentive Plan (2011 LTIP). This plan, which became effective upon shareholder approval, allows for various equity-based awards, including stock options, restricted stock, and performance shares, with a total of 14 million shares available for issuance, plus any shares from terminated prior awards. Additionally, the report confirms the election of all 13 nominated directors for a one-year term and the ratification of Deloitte & Touche LLP as the independent auditor for 2011. Shareholders also approved, on an advisory basis, the compensation of named executive officers and determined that future "say-on-pay" advisory votes will be held annually.
Key Highlights
- 1Shareholder approval of the 2011 Long Term Incentive Plan (2011 LTIP), effective May 20, 2011.
- 2The 2011 LTIP permits awards such as stock options, restricted stock, and performance shares.
- 3A total of 14 million shares are authorized for issuance under the 2011 LTIP, plus carryover from prior plans.
- 4All 13 director nominees were elected for one-year terms.
- 5Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2011.
- 6Shareholders approved named executive officer compensation on a non-binding advisory basis.
- 7Future "say-on-pay" votes will be held annually, based on shareholder preference.