8-KShareholder MattersExhibits & Filings

SLB LIMITED/NV 8-K Report, Shareholder Vote Results (Apr 11, 2012)

Filed April 11, 2012For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an 8-K on April 11, 2012, reporting on the outcomes of its Annual General Meeting of Stockholders held on the same date. The key event was the submission of several proposals to a vote, all of which received substantial shareholder approval. This meeting provides insight into shareholder confidence in the company's leadership, financial reporting, and compensation practices. Investors would be interested to note the overwhelming approval for the election of all director nominees, the advisory vote on executive compensation, and the approval of the 2011 financial statements and dividend declarations. The appointment of PricewaterhouseCoopers LLP as the independent auditor for 2012 also received strong backing. Furthermore, amendments to the Non-Employee Director Stock and Deferral Plan were approved, indicating shareholder support for the company's equity incentive structures for its board.

Key Highlights

  • 1All 12 director nominees were overwhelmingly elected by shareholders.
  • 2Schlumberger's executive compensation was approved on an advisory basis with approximately 98.32% of the votes cast in favor.
  • 3Shareholders approved the company's Consolidated Balance Sheet as of December 31, 2011, the Statement of Income for 2011, and 2011 dividend declarations with approximately 99.80% approval.
  • 4PricewaterhouseCoopers LLP was approved as the independent registered public accounting firm for 2012 with approximately 98.97% of the votes cast.
  • 5Amendments to the Schlumberger 2004 Stock and Deferral Plan for Non-Employee Directors, including an increase in available shares, were approved with approximately 93.44% of the votes cast.
  • 6The filing confirms the holding of the 2012 Annual General Meeting of Stockholders on April 11, 2012.
  • 7The filing includes an exhibit detailing the amended and restated Schlumberger 2004 Stock and Deferral Plan for Non-Employee Directors.

Frequently Asked Questions

The primary outcomes were the election of all director nominees, the advisory approval of executive compensation, the ratification of the 2011 financial statements and dividend declarations, the approval of PricewaterhouseCoopers LLP as the auditor for 2012, and the approval of amendments to the Non-Employee Director Stock and Deferral Plan. All these proposals received significant shareholder support.

Shareholders voted to approve Schlumberger's executive compensation on an advisory basis. Approximately 98.32% of the votes cast were in favor of the resolution, indicating strong shareholder confidence in the company's compensation practices.

Yes, amendments to the Schlumberger 2004 Stock and Deferral Plan for Non-Employee Directors were approved. These amendments included an increase in the number of shares available for issuance under the plan and certain technical changes. Approximately 93.44% of the votes cast were in favor of these amendments.

PricewaterhouseCoopers LLP has been approved by shareholders to serve as the independent registered public accounting firm to audit Schlumberger's accounts for the fiscal year 2012. This appointment received approximately 98.97% approval.