01—Abstract
Summary
Summary of the 8-K filed May 27, 2026. Cited figures are marked; the original filing is the authoritative source.
Quanta Services (PWR) held its 2026 Annual Meeting on May 21, 2026, where stockholders re-elected a slate of ten directors to one-year terms and approved the non-binding executive compensation program.
Stockholders also ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal 2026. Support was strong across the board: all ten nominees received well over 85%a of votes cast, with most above 97%, and say-on-pay received roughly 94% support among votes cast. Joseph Kim, President and CEO of Sunoco GP LLC, was also elected as a new independent director.
The most material capital-allocation news is the Board's authorization of a new stock repurchase program of up to $1.0 billionb of common stock, effective May 21, 2026. Repurchases may be made through open-market or privately negotiated transactions at management's discretion, and the company is not obligated to buy any specific amount. The new authorization replaces an existing program that expires June 30, 2026, under which Quanta has already repurchased 540,788 shares for approximately $135 million.
The Board also declared a quarterly cash dividend of $0.11c per share ($0.44 annualized), payable July 13, 2026 to holders of record as of July 1, 2026. The filing is governance and capital-return focused and contains no operating or financial results. Investors should read it as a signal of management confidence in cash generation and a continued commitment to shareholder returns, while noting that the repurchase program is discretionary and can be modified or terminated at any time.
02—Key points
Key Highlights
- New $1.0 billion stock repurchase program authorized, effective May 21, 2026, replacing the existing program that expires June 30, 2026 (about $135 million already spent under that program on 540,788 shares).
- Quarterly dividend declared at $0.11 per share ($0.44 annualized), payable July 13, 2026 to stockholders of record as of July 1, 2026.
- Joseph Kim, President and CEO of Sunoco GP LLC, elected as a new independent director, adding supply chain, logistics, and energy-sector expertise to the Board.
- All ten director nominees re-elected to one-year terms expiring at the 2027 Annual Meeting; Earl Austin, Jr. and Joseph Kim received about 99.6% and 99.7% of votes cast, respectively, while Worthing Jackman received the lowest support at about 88%.
- Say-on-pay advisory vote approved executive compensation, with roughly 114.2 million votes for versus 7.1 million against (about 94% support among votes cast).
- PricewaterhouseCoopers LLP ratified as independent registered public accounting firm for fiscal 2026, with about 94% of votes cast in favor.
- The 8-K contains no financial results or guidance; the new buyback and dividend are the primary investor-relevant disclosures.
03—Questions
Frequently Asked Questions
How large is the new share repurchase authorization and how does it differ from the prior program?
The Board authorized repurchases of up to $1.0 billion of common stock, effective May 21, 2026. The prior program expires June 30, 2026, and under it Quanta acquired 540,788 shares for about $135 million. Repurchases are at management's discretion, depend on market and business conditions, and are not obligated to occur. The Board can modify or terminate the program at any time without notice.
What is the dividend and when is it paid?
The Board declared a quarterly cash dividend of $0.11 per share, or $0.44 annualized. It is payable July 13, 2026, to stockholders of record as of July 1, 2026.
Did stockholders approve the executive compensation program?
Yes. The advisory say-on-pay resolution passed with about 114.2 million votes for, 7.1 million against, and 0.2 million withheld or abstaining, roughly 94% support among votes cast. The vote is advisory and non-binding.
Who is Joseph Kim and why was he added to the Board?
Joseph Kim is President, CEO, and a director of Sunoco GP LLC, the general partner of Sunoco LP (NYSE: SUN). He previously held senior roles at Sunoco, served as COO of Pizza Hut, and held roles at Valero Energy. The company said he brings supply chain, logistics, energy industry, capital allocation, and risk management expertise.
Did the auditor change, and is there any sign of stockholder dissent?
No change in auditor occurred. Stockholders ratified PricewaterhouseCoopers LLP for fiscal 2026 with about 94% of votes cast in favor. Director support was generally very high; the lowest individual tally was Worthing Jackman at about 88% of votes cast, with 14.2 million votes against.
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