Summary
This 8-K filing from Royal Caribbean Cruises Ltd. (RCL) details the results of its 2015 Annual Meeting of Shareholders held on May 28, 2015. The primary focus for investors is the overwhelming approval of key corporate actions, including the election of all eight director nominees and the advisory approval of executive compensation. Importantly, shareholders also overwhelmingly approved the delisting of the company's common stock from the Oslo Stock Exchange, a move that may simplify reporting and reduce associated costs. While most proposals passed with strong support, a shareholder proposal requesting a report on Board diversity was not approved. The ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2015 also received broad shareholder backing. The meeting was well-attended, with a quorum established by the representation of a significant portion of the outstanding shares.
Key Highlights
- 1All eight director nominees were successfully elected to the Board of Directors for one-year terms.
- 2Shareholders provided advisory approval for the compensation of named executive officers.
- 3The delisting of Royal Caribbean Cruises Ltd.'s common stock from the Oslo Stock Exchange was overwhelmingly approved.
- 4PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for fiscal year 2015.
- 5A shareholder proposal seeking a report on Board diversity was not approved by the majority of votes cast.
- 6A quorum was established at the meeting, with over 186 million shares represented.
- 7The election of directors and executive compensation approval received a strong majority of votes cast.