Summary
This 8-K filing from BB&T Corporation (now Truist Financial Corp.) reports on the outcomes of its 2018 Annual Meeting of Shareholders held on April 24, 2018. The meeting saw strong shareholder participation, with approximately 88.6% of outstanding shares represented. Key outcomes include the re-election of all director nominees, ratification of PricewaterhouseCoopers LLP as the independent auditor, and approval of the executive compensation program on an advisory basis. Furthermore, shareholders overwhelmingly approved an amendment to the bylaws to eliminate supermajority voting provisions, a significant governance change. However, a shareholder proposal to decrease the ownership threshold required to call a special meeting did not pass. The filing also notes the inclusion of the amended and restated bylaws as an exhibit.
Key Highlights
- 1Strong shareholder turnout at the 2018 Annual Meeting, with 88.6% of shares represented.
- 2All director nominees were successfully elected for a one-year term.
- 3PricewaterhouseCoopers LLP was ratified as the independent auditor for 2018.
- 4Shareholders approved BB&T's executive compensation program in an advisory vote.
- 5A significant governance change was approved: the elimination of supermajority voting provisions in the company's bylaws.
- 6A shareholder proposal to lower the threshold for calling special meetings was rejected.
- 7The company's amended and restated bylaws, effective April 24, 2018, were filed as an exhibit.