8-KShareholder Matters

Prologis, Inc. 8-K Report, Shareholder Vote Results (May 3, 2013)

Filed May 3, 2013For Securities:PLDPLDGP

Summary

This 8-K filing by Prologis, Inc. (PLD) on May 3, 2013, reports the outcomes of its Annual Meeting of Stockholders held on May 2, 2013. The primary focus for investors is the shareholder approval of key corporate matters, including the election of directors, an advisory vote on executive compensation, and the ratification of the company's independent auditor. The results indicate strong shareholder support for the board of directors and the company's auditor, while the advisory vote on executive compensation shows a more divided opinion, though still leaning towards approval.

Key Highlights

  • 1Prologis' Annual Meeting of Stockholders took place on May 2, 2013.
  • 2All ten nominated directors were elected to the board, receiving substantial 'For' votes.
  • 3An advisory vote to approve the company's executive compensation for 2012 received a majority of 'For' votes, but with a significant percentage of 'Against' votes.
  • 4Shareholders overwhelmingly ratified the appointment of KPMG LLP as the independent registered public accounting firm for 2013.
  • 5The filing provides detailed vote counts for each proposal, including votes for, against, abstentions, and broker non-votes.

Frequently Asked Questions

The key outcomes were the election of all ten directors to the board, an advisory approval of the company's 2012 executive compensation, and the ratification of KPMG LLP as the independent auditor for 2013.

Shareholders overwhelmingly approved the election of all ten directors. Most directors received well over 380 million 'For' votes, significantly outweighing 'Against' votes and abstentions.

While the advisory vote to approve executive compensation for 2012 passed, there was notable opposition. Out of approximately 378 million total votes cast on the matter (excluding broker non-votes), over 154 million voted against it, representing a substantial portion of the dissenting votes.

Shareholder support for ratifying KPMG LLP as the independent registered public accounting firm for 2013 was exceptionally strong, with over 421 million 'For' votes and a very small number of 'Against' votes or abstentions.