What was the outcome of the advisory vote on executive compensation?

The advisory resolution to approve Schlumberger's executive compensation was overwhelmingly approved, with approximately 96.0% of the votes cast in favor. This indicates strong shareholder confidence in the company's compensation practices.

Were there any significant changes to the board of directors or the company's auditor?

No, all 12 director nominees were elected by the stockholders. The company also received strong approval for the reappointment of PricewaterhouseCoopers LLP as its independent registered public accounting firm for 2017.

What is the primary purpose of the 2017 Omnibus Stock Incentive Plan?

The 2017 Omnibus Stock Incentive Plan is designed to provide incentives to employees by allowing the company to grant awards such as stock options, cash, stock appreciation rights, and stock awards (including restricted stock or restricted stock units). This is intended to align employee interests with those of shareholders and attract and retain key talent.

SLB 8-K: Leadership Changes & Shareholder Matters

Q: What are the key equity incentive plans approved by SLB stockholders at the 2017 Annual Meeting?

SLB stockholders approved the adoption of the 2017 Schlumberger Omnibus Stock Incentive Plan and an amendment and restatement of the Schlumberger Discounted Stock Purchase Plan (DSPP). The 2017 Incentive Plan makes up to 30 million shares available for various stock-based awards, while the DSPP amendment adds 18 million shares for employee stock purchases.

Summary

This Form 8-K from SLB LIMITED/NV (SLB) details the outcomes of its 2017 Annual Meeting of Stockholders held on April 5, 2017. The most significant items for investors are the stockholder approvals of two key equity-based plans: the 2017 Schlumberger Omnibus Stock Incentive Plan and an amendment and restatement of the Schlumberger Discounted Stock Purchase Plan (DSPP). The 2017 Incentive Plan allows for grants of stock options, cash, stock appreciation rights, and stock awards, with up to 30 million shares authorized. The DSPP Amendment increases the shares available for purchase under that plan by 18 million. Additionally, the report confirms the election of all 12 director nominees and strong advisory approval of executive compensation (96.0%) and the frequency of future votes (91.6% for annual votes). The company also received overwhelming approval for its 2016 financial statements and dividends, and for the appointment of PricewaterhouseCoopers LLP as its 2017 auditor. These approvals reflect broad shareholder support for the company's governance and compensation practices.

Key Highlights

1Stockholders approved the 2017 Schlumberger Omnibus Stock Incentive Plan, authorizing up to 30 million shares for grants of stock options, cash, stock appreciation rights, and stock awards.
2Stockholders approved an amendment to the Discounted Stock Purchase Plan (DSPP), increasing the available shares for purchase by 18 million.
3All 12 director nominees were elected by the stockholders.
4An advisory vote to approve executive compensation received strong support, with approximately 96.0% of votes cast in favor.
5Stockholders overwhelmingly approved the company's 2016 financial statements and dividends (99.8% of votes cast).
6PricewaterhouseCoopers LLP was approved as the independent registered public accounting firm for 2017 with approximately 98.1% of votes cast.
7An advisory vote favored holding future executive compensation votes on an annual basis (91.6% of votes cast).

SLB LIMITED/NV 8-K Report, Executive Changes (Apr 5, 2017)

Summary

Key Highlights

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