Summary
Pfizer Inc. (PFE) filed an 8-K report on May 1, 2017, detailing the outcomes of its Annual Meeting of Shareholders held on April 27, 2017. The primary focus of the report is the voting results on various proposals, including the election of directors, ratification of the independent auditor, executive compensation, and several shareholder proposals. The meeting confirmed the election of all director nominees and ratified KPMG LLP as the company's independent auditor for fiscal year 2017. An advisory vote on executive compensation was approved, with shareholders also indicating a preference for annual advisory votes on executive compensation. Shareholder proposals concerning special shareholder meetings and an independent chair policy were not approved, while a proposal regarding The Holy Land Principles was withdrawn.
Key Highlights
- 1All director nominees presented at the Annual Meeting of Shareholders were elected to hold office until the next annual meeting.
- 2Shareholders ratified the selection of KPMG LLP as Pfizer's independent registered public accounting firm for the 2017 fiscal year.
- 3An advisory proposal to approve executive compensation received a majority of "for" votes.
- 4Shareholders voted in favor of holding advisory votes on executive compensation on an annual basis.
- 5A shareholder proposal requesting special shareholder meetings did not receive majority approval.
- 6A shareholder proposal advocating for an independent chair policy was also not approved by shareholders.