8-KShareholder MattersExhibits & Filings

SOUTHERN COPPER CORP/ 8-K Report, Shareholder Vote Results (May 30, 2023)

Filed May 30, 2023For Securities:SCCO

Summary

Southern Copper Corporation (SCCO) filed an 8-K on May 29, 2023, detailing the outcomes of its 2023 Annual Meeting of Stockholders held on May 26, 2023. The meeting saw strong participation, with approximately 96.81% of outstanding shares eligible to vote being cast. The primary focus for investors in this filing is the shareholder voting results on key corporate governance matters. All proposals presented to shareholders passed with significant support. This includes the election of all nine directors, the ratification of the appointment of Galaz, Yamazaki, Ruiz Urquiza S.C. as the independent accountants, and the approval of the company's executive compensation. Furthermore, shareholders overwhelmingly recommended that future advisory votes on executive compensation be held annually.

Key Highlights

  • 1All nine incumbent directors were re-elected to serve until the 2024 annual meeting.
  • 2The selection of Galaz, Yamazaki, Ruiz Urquiza S.C. (a member firm of Deloitte Touche Tohmatsu Limited) as the independent accountants for calendar year 2023 was ratified by shareholders.
  • 3Shareholders approved, via a non-binding advisory vote, the company's executive compensation plan.
  • 4A strong majority of shareholders recommended an annual advisory vote on executive compensation.
  • 5A significant portion of outstanding shares (approximately 96.81%) participated in the voting.
  • 6Broker non-votes represented a notable portion of the total votes, particularly in director elections and executive compensation proposals.

Frequently Asked Questions

This 8-K filing reports the official results of Southern Copper Corporation's 2023 Annual Meeting of Stockholders, specifically detailing the voting outcomes on the election of directors, ratification of independent auditors, executive compensation approval, and the frequency of future executive compensation votes.

No, all proposals presented to shareholders passed with substantial majority support. The election of directors, ratification of auditors, and approval of executive compensation were all overwhelmingly approved. The recommendation for an annual advisory vote on executive compensation also received strong backing.

Approximately 96.81% of the total outstanding shares eligible to vote were cast at the meeting, indicating very high shareholder engagement and participation.

A broker non-vote occurs when a broker holding shares on behalf of a client does not have discretionary voting authority for a particular proposal and the client has not provided instructions. These votes are counted towards the total number of shares present for quorum but are not counted as 'for' or 'against' any specific proposal. The presence of broker non-votes can influence the percentage of votes cast for or against a proposal.