01—Abstract
Summary
Summary of the 8-K filed May 7, 2024. Cited figures are marked; the original filing is the authoritative source.
Ovintiv Inc. (NYSE, TSX: OVV) reported the results of its 2024 Annual Meeting of Shareholders, held May 2, 2024, as described in a Form 8-K filed May 7, 2024.
All eleven director nominees named in the Proxy Statement filed March 21, 2024 were elected. Among them, Suzanne P. Nimocks and Thomas G.
Ricks received the most opposition, with 11,604,010 and 11,525,314 shares voted against, respectively, while Sippy Chhina received the strongest support at 200,244,944 shares for. Shareholders also approved, on a non-binding advisory basis, the compensation of the named executive officers, with 193,170,054 shares voted for and 7,326,219 against. Shareholders additionally ratified PricewaterhouseCoopers LLP as the company's independent auditors, with 214,298,281 shares voted for and 6,792,132 against.
The filing reports 20,538,660 broker non-votes on the director and say-on-pay items, and none on the auditor ratification. The filing incorporates by reference a news release dated May 6, 2024 (Exhibit 99.1), which restates the same voting results and reports the percentage of votes for and against each matter.
02—Key points
Key Highlights
- All 11 director nominees were elected at the May 2, 2024 Annual Meeting, as proposed in the Proxy Statement.
- Sippy Chhina received the highest support among directors, with 200,244,944 shares for and 317,144 against.
- Suzanne P. Nimocks (11,604,010 against) and Thomas G. Ricks (11,525,314 against) drew the most opposition among directors.
- Say-on-pay advisory vote passed with 193,170,054 shares for and 7,326,219 against.
- PricewaterhouseCoopers LLP was ratified as independent auditors, with 214,298,281 shares for and 6,792,132 against.
- The May 6, 2024 news release (Exhibit 99.1) reports the percentage of votes for and against each matter.
03—Questions
Frequently Asked Questions
Were all of the director nominees elected?
Yes. The filing states that each nominee listed in the Proxy Statement was elected as a director of the Corporation at the May 2, 2024 Annual Meeting.
How did shareholders vote on executive compensation?
The non-binding advisory vote on named executive officer compensation received 193,170,054 shares for and 7,326,219 shares against, with 216,707 abstentions and 20,538,660 broker non-votes.
Which auditor did shareholders ratify?
Shareholders ratified PricewaterhouseCoopers LLP, Chartered Accountants, as the company's independent auditors, with 214,298,281 shares for and 6,792,132 shares against.
Where can I find the percentage of votes for each item?
The filing attaches a news release dated May 6, 2024 as Exhibit 99.1, which lists the percentage of shares for and against each director, the say-on-pay vote and the auditor ratification.
04—Continue