8-KShareholder Matters

UNITED PARCEL SERVICE INC 8-K Report, Shareholder Vote Results (May 10, 2011)

Filed May 10, 2011For Securities:UPS

Summary

This 8-K filing from United Parcel Service Inc. (UPS) details the outcomes of their annual shareowner meeting held on May 5, 2011. The primary focus is on the voting results for key corporate governance matters. Investors can find reassurance in the overwhelming approval for the re-election of all eleven directors, indicating strong support for the current board's leadership and strategy. Furthermore, the filing provides insight into shareowner sentiment on executive compensation. While the "Say on Pay" advisory vote received substantial support, the "Say When on Pay" vote clearly indicated a preference for triennial advisory votes on executive compensation, a decision subsequently adopted by the board. The appointment of Deloitte & Touche LLP as the independent registered public accountants for 2011 was also overwhelmingly ratified.

Key Highlights

  • 1All eleven nominated directors were overwhelmingly elected, receiving significantly more "For" votes than "Against."
  • 2The advisory "Say on Pay" proposal, related to executive compensation, received strong approval from shareowners.
  • 3Shareowners voted overwhelmingly in favor of holding advisory votes on executive compensation every three years ("Say When on Pay").
  • 4The Board of Directors subsequently determined that future advisory votes on executive compensation will occur every three years.
  • 5The appointment of Deloitte & Touche LLP as the independent registered public accountants for the fiscal year ending December 31, 2011, was overwhelmingly ratified.
  • 6The filing covers matters voted on at the annual shareowner meeting held on May 5, 2011.

Frequently Asked Questions

Yes, all eleven nominated directors were elected at the annual meeting of shareowners on May 5, 2011. Each director received a majority of votes cast "for" their election compared to votes cast "against."

The advisory proposal to approve executive compensation (known as "Say on Pay") received strong support from shareowners, with a significant majority voting in favor.

Following the annual meeting, UPS's board of directors determined that advisory votes on executive compensation will be held every three years. This decision was made after shareowners indicated a preference for this frequency in the "Say When on Pay" advisory vote.

Yes, the appointment of Deloitte & Touche LLP as UPS's independent registered public accountants for the year ending December 31, 2011, was overwhelmingly ratified by the shareowners.