Summary
This 8-K filing from BB&T Corporation (now Truist Financial Corp. under TFC ticker) details the outcomes of its 2017 Annual Meeting of Shareholders held on April 25, 2017. The primary focus for investors is the shareholder approval of six proposals, including the election of directors, ratification of the independent auditor, and amendments to the company's 2012 Incentive Plan. Notably, shareholders overwhelmingly re-elected all nominated directors and ratified PricewaterhouseCoopers LLP as the auditor. The company also received shareholder approval for its executive compensation program and voted to hold "say-on-pay" votes annually.
Key Highlights
- 1Shareholders overwhelmingly re-elected all 16 incumbent directors for one-year terms.
- 2PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2017.
- 3BB&T's executive compensation program received shareholder approval in an advisory vote.
- 4Shareholders approved holding the advisory "say-on-pay" vote on executive compensation annually.
- 5Amendments to the BB&T 2012 Incentive Plan, including an increase in authorized shares by 6.2 million, were approved by shareholders.
- 6A shareholder proposal to eliminate supermajority voting provisions in the company's articles and bylaws was approved.