Summary
Sempra Energy (SRE) held its 2022 Annual Shareholders Meeting on May 13, 2022, with results detailed in this 8-K filing. The meeting saw overwhelming support for the company's proposed slate of 11 director nominees, with all receiving a vast majority of 'for' votes, indicating strong shareholder confidence in the current board leadership. Additionally, shareholders overwhelmingly ratified the appointment of Deloitte & Touche LLP as the company's independent auditor for 2022 and approved, on an advisory basis, the company's executive compensation. However, a notable outcome was the disapproval of a shareholder proposal advocating for an independent board chairman. This proposal received a majority of 'against' votes, suggesting that a significant portion of shareholders do not believe this structural change is necessary at this time. The filing also notes the retirement of director William D. Jones, who was not nominated for re-election.
Key Highlights
- 1All 11 director nominees were elected with very high approval percentages (over 94% 'for' votes each).
- 2Shareholders overwhelmingly ratified the appointment of Deloitte & Touche LLP as the independent auditor for 2022 (95.79% 'for' votes).
- 3Executive compensation was approved on an advisory basis with strong support (94.46% 'for' votes).
- 4A shareholder proposal to require an independent board chairman was not approved, failing to gain majority support (62.13% 'against' votes).
- 5Director William D. Jones retired from the board, having not been nominated for re-election.
- 6The voting results indicate strong shareholder alignment with the company's current board and executive compensation practices.