Summary
This Form 8-K filing by Royal Caribbean Cruises Ltd. (RCL) reports on the outcomes of its annual meeting of shareholders held on May 20, 2010. The primary focus of the filing is the voting results on several key corporate matters presented to shareholders for approval. Notably, all incumbent directors proposed for re-election were approved, as was the appointment of PricewaterhouseCoopers LLP as the independent auditor for 2010. Shareholders also approved the issuance of additional shares under the company's 2008 Equity Incentive Plan. However, a shareholder proposal to adopt a hold-through-retirement policy for equity awards for executive officers and directors was not approved. This suggests shareholder sentiment may differ from management's or the board's recommendations on executive compensation structure, representing a point of interest for investors concerned with corporate governance and executive pay.
Key Highlights
- 1Royal Caribbean Cruises Ltd. held its annual shareholder meeting on May 20, 2010.
- 2Four director nominees were elected to the Board of Directors.
- 3Shareholders approved the issuance of an additional 6,000,000 shares under the 2008 Equity Incentive Plan.
- 4PricewaterhouseCoopers LLP was ratified as the principal independent auditor for 2010.
- 5A shareholder proposal to adopt a hold-through-retirement policy for executive equity awards was not approved.
- 6The voting results indicate strong support for the company's board and auditor appointments.