Summary
ONEOK Inc. (OKE) filed an 8-K on May 23, 2013, detailing the results of its 2013 annual meeting of shareholders held on May 22, 2013. The report confirms the election of all ten director nominees for one-year terms and the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2013. Key shareholder votes also included approval of the material terms of performance goals for the Equity Compensation Plan and a "say-on-pay" advisory vote on executive compensation, both passing with significant support.
Key Highlights
- 1All ten nominated directors were elected by a majority of votes cast to serve until the 2014 annual meeting.
- 2PricewaterhouseCoopers LLP was ratified as the independent auditor for the fiscal year ending December 31, 2013, with strong shareholder approval.
- 3The material terms of the Equity Compensation Plan's performance goals were approved, aligning with Section 162(m) of the Internal Revenue Code.
- 4Shareholders provided an advisory vote of approval for executive compensation ('say-on-pay').
- 5A shareholder proposal requesting a report on methane emissions was not approved.
- 6The company also disclosed remarks made by its CEO regarding 2012 performance, dividend growth expectations, and commitment to environmental, safety, and health performance.