8-KShareholder Matters

Targa Resources Corp. 8-K Report, Shareholder Vote Results (May 23, 2013)

Filed May 23, 2013For Securities:TRGP

Summary

Targa Resources Corp. filed an 8-K report on May 23, 2013, detailing the results of its 2013 Annual Meeting of Stockholders held on May 20, 2013. The primary purpose of this filing was to announce the voting outcomes on key proposals, including the election of directors and the ratification of the independent auditor. Investors are informed that all three Class III directors up for re-election were successfully elected for three-year terms, indicating strong shareholder confidence in the current board's leadership. Additionally, PricewaterhouseCoopers LLP was ratified as the company's independent registered public accounting firm for 2013, a routine but important vote for financial oversight and transparency. The voting results for both proposals demonstrate significant shareholder approval.

Key Highlights

  • 1The 2013 Annual Meeting of Stockholders took place on May 20, 2013.
  • 2Three Class III directors were elected for three-year terms, with substantial 'Votes For' figures.
  • 3Rene R. Joyce, Peter R. Kagan, and Chris Tong were re-elected to the Board of Directors.
  • 4PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2013.
  • 5The ratification of the auditor received a high number of 'Votes For'.
  • 6The filing confirms that key governance matters were approved by shareholders.
  • 7Matthew J. Meloy, Senior Vice President, Chief Financial Officer and Treasurer, signed the report.

Frequently Asked Questions

The main outcomes were the election of three Class III directors for three-year terms and the ratification of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2013. Both proposals received strong shareholder approval.

The three Class III directors elected for three-year terms were Rene R. Joyce, Peter R. Kagan, and Chris Tong.

The voting results for both the director elections and the ratification of the auditor show a significant majority of 'Votes For', with relatively low numbers for 'Votes Against' or 'Abstain' (for the auditor ratification) and 'Withheld' (for director elections). The 'Broker Non-Votes' are noted for the director elections, which is common when shares are held in street name and the beneficial owner has not provided voting instructions.

Ratifying the independent auditor is a standard corporate governance practice. It signifies shareholder approval of the company's choice for its external auditor, who plays a crucial role in examining the company's financial statements and providing an opinion on their fairness and accuracy.