What were the main reasons for the departure of Juergen W. Gromer?

Juergen W. Gromer departed as a director because he reached the Board's retirement age of 72, and in accordance with the company's retirement policy, he was not nominated for re-election.

What changes were made to the 2007 Stock and Incentive Plan?

The 2007 Stock and Incentive Plan was amended and restated to increase the number of registered shares available for issuance by ten million, extend the term of the plan from June 28, 2017, to June 27, 2027, and include various technical revisions and improvements.

How did shareholders vote on the re-election of directors?

Shareholders overwhelmingly voted in favor of re-electing all twelve directors. For most directors, the 'for' vote was well over 99% of the total votes cast, with very few votes against or abstentions.

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

Shareholders approved the advisory vote to approve executive compensation with approximately 94.82% of the votes cast in favor. The company also determined, based on shareholder vote, to hold future advisory votes on executive compensation annually.

Was the proposed dividend payment approved?

Yes, the proposed dividend payment of $1.60 per issued share, to be paid in four equal quarterly installments of $0.40 starting in the third fiscal quarter of 2017, was approved by shareholders with a very high percentage of the votes cast in favor.

TEL 8-K: Leadership Changes & Shareholder Matters

Summary

This Form 8-K filing from TE Connectivity Ltd. (TEL) on March 9, 2017, reports on the outcomes of its Annual General Meeting of Shareholders (AGM) held on March 8, 2017. Key events include the retirement of director Juergen W. Gromer due to the company's retirement policy and the shareholder approval of amendments to the 2007 Stock and Incentive Plan, which extended its term and increased the number of shares available for issuance. The AGM also saw overwhelming shareholder support for the re-election of all twelve directors and the election of Thomas J. Lynch as Chairman of the Board. Furthermore, shareholders approved the company's 2016 annual reports, the appointment of auditors for fiscal year 2017, and advisory votes on executive compensation and its frequency. A significant dividend payment of $1.60 per share was also approved.

Key Highlights

1Director Juergen W. Gromer retired in accordance with the board's retirement policy.
2Shareholders approved amendments to the 2007 Stock and Incentive Plan, extending its term to 2027 and increasing authorized shares.
3All twelve incumbent directors were overwhelmingly re-elected to the board.
4Thomas J. Lynch was elected as the Chairman of the Board.
5The company's 2016 annual reports and financial statements were approved by shareholders.
6Shareholders approved the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2017.
7A dividend of $1.60 per share was approved for payment in four quarterly installments.
8Shareholders approved an authorization related to TE's share repurchase program, though with a notable level of opposition.

TE Connectivity plc 8-K Report, Executive Changes (Mar 9, 2017)

Summary

Key Highlights

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