8-KShareholder Matters

STATE STREET CORP 8-K Report, Shareholder Vote Results (May 20, 2013)

Filed May 20, 2013For Securities:STTSTT-PG

Summary

This 8-K filing details the outcomes of State Street Corporation's annual shareholder meeting held on May 15, 2013. A significant majority of outstanding shares, approximately 88%, were represented, indicating strong shareholder engagement. All three proposals presented to the shareholders passed with substantial support. These proposals included the election of eleven director nominees, an advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year 2013. The voting results demonstrate broad shareholder approval for the company's slate of directors and its chosen auditor. The advisory vote on executive compensation also received a high percentage of 'for' votes, suggesting general investor confidence in the company's compensation practices at that time. The overwhelming ratification of Ernst & Young underscores investor trust in the company's financial reporting and oversight mechanisms.

Key Highlights

  • 1State Street Corporation held its annual shareholder meeting on May 15, 2013.
  • 2Approximately 88% of outstanding common stock was represented, indicating high shareholder turnout.
  • 3All eleven nominated directors were elected by shareholders.
  • 4An advisory proposal on executive compensation was approved by a significant majority.
  • 5Ernst & Young LLP was ratified as State Street's independent registered public accounting firm for 2013 with overwhelming support.
  • 6The "Say-on-Pay" advisory vote passed with 92.5% of votes cast in favor.
  • 7Ratification of the auditor received 98.5% of votes cast in favor.

Frequently Asked Questions

The main topics voted on were the election of eleven directors, an advisory proposal on executive compensation (often referred to as 'Say-on-Pay'), and the ratification of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2013.

A significant portion of State Street's common stock was represented at the meeting, with approximately 88% of the outstanding shares (401,305,356 out of 455,748,012) present in person or by proxy.

Yes, shareholders approved the advisory proposal on executive compensation. The proposal received 92.5% of the votes cast in favor, indicating broad support for the company's executive compensation structure at that time.

No, all director nominees were elected with a substantial majority of 'for' votes, and the ratification of Ernst & Young LLP as the independent auditor also passed with very strong support (98.5% of votes cast in favor). Votes against each proposal and abstentions were relatively small compared to the total votes cast.