8-KShareholder Matters

STATE STREET CORP 8-K Report, Shareholder Vote Results (May 27, 2015)

Filed May 27, 2015For Securities:STTSTT-PG

Summary

State Street Corporation (STT) filed an 8-K on May 27, 2015, reporting the results of its annual shareholder meeting held on May 20, 2015. The meeting saw strong participation, with approximately 89% of outstanding shares represented. Key outcomes include the overwhelmingly approved election of all 12 director nominees and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2015. Furthermore, shareholders approved an advisory proposal on executive compensation. While this vote is advisory and non-binding, the strong support indicates shareholder confidence in the company's executive pay practices. The results demonstrate broad shareholder alignment on corporate governance and oversight at State Street during this period.

Key Highlights

  • 198.7% of votes cast ratified Ernst & Young LLP as State Street's independent auditor for 2015, indicating strong auditor confidence.
  • 2All 12 director nominees were elected, reflecting shareholder support for the company's leadership.
  • 395.4% of votes cast approved the advisory proposal on executive compensation, signaling shareholder endorsement of the company's compensation policies.
  • 4A significant 89% of outstanding shares were represented at the meeting, demonstrating high shareholder engagement.
  • 5Broker non-votes were recorded for all proposals, common in such meetings where shares are held in 'street name'.
  • 6The results suggest a stable and supportive shareholder base at State Street during May 2015.

Frequently Asked Questions

The main items voted on were the election of 12 directors, an advisory proposal on executive compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2015.

Shareholders voted to elect all twelve director nominees. The votes 'for' each nominee were substantial, ranging from approximately 332.9 million to 338.6 million, with very few 'against' votes or abstentions per nominee.

The advisory proposal on executive compensation was approved. 95.4% of the votes cast were in favor of the proposal, with only 4.6% voting against it, indicating significant shareholder support for the executive compensation structure.

Yes, the selection of Ernst & Young LLP as State Street's independent registered public accounting firm for the year ending December 31, 2015, was ratified by an overwhelming majority. 98.7% of the votes cast were in favor of the ratification.