8-KShareholder MattersExhibits & Filings

REALTY INCOME CORP 8-K Report, Shareholder Vote Results (May 14, 2020)

Filed May 14, 2020For Securities:O

Summary

Realty Income Corporation (O) filed an 8-K on May 14, 2020, detailing the results of its 2020 annual meeting of stockholders held on May 12, 2020. The primary focus of this filing is the outcome of shareholder votes on key corporate governance and financial matters. All of the company's ten director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board's leadership and direction. Furthermore, the shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020, a crucial vote for maintaining financial integrity and transparency. The advisory vote on executive compensation also passed, though with a slightly lower margin compared to the director elections and auditor ratification, suggesting a general approval of executive pay practices.

Key Highlights

  • 1All ten director nominees were elected to serve until the 2021 annual meeting, receiving substantial 'For' votes, demonstrating strong board support.
  • 2KPMG LLP was ratified as Realty Income's independent registered public accounting firm for the fiscal year ending December 31, 2020.
  • 3The advisory vote to approve the compensation of named executive officers passed, indicating general shareholder agreement with compensation practices.
  • 4A significant number of broker non-votes were recorded for the director elections and the advisory vote on executive compensation, which is typical for such proposals.
  • 5The annual meeting was held on May 12, 2020, with the record date for voting being March 12, 2020.
  • 6The filing indicates a total of approximately 343.4 million shares of common stock were issued and outstanding as of the record date.

Frequently Asked Questions

Yes, all ten of Realty Income Corporation's director nominees were elected to serve until the 2021 annual meeting. The votes in favor significantly outnumbered the votes against, abstentions, and broker non-votes for each nominee.

Shareholders ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2020.

Shareholders approved, on an advisory basis, the compensation of the Company's named executive officers. The 'For' votes represented the majority of the votes cast on this proposal.

A broker non-vote occurs when a broker holding shares on behalf of a client does not vote on a particular proposal because the client has not provided instructions. These votes are not counted as 'For' or 'Against' the proposal. For Realty Income's 2020 annual meeting, broker non-votes were significant for the director elections and the advisory vote on executive compensation, but not for the auditor ratification.