8-KShareholder Matters

UNITED PARCEL SERVICE INC 8-K Report, Shareholder Vote Results (May 10, 2019)

Filed May 10, 2019For Securities:UPS

Summary

This 8-K filing from United Parcel Service, Inc. (UPS) reports on the outcomes of its annual shareholder meeting held on May 9, 2019. The primary focus for investors is the overwhelming approval of the company's slate of 12 directors, with all directors receiving significantly more "for" votes than "against" votes. This indicates strong shareholder confidence in the current board and its leadership. Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2019. This ratification is a routine but important procedural step, signaling continued trust in the company's auditing process. Conversely, three shareholder proposals regarding lobbying activities, declassifying stock, and integrating sustainability metrics into executive compensation all failed to pass, with a substantial majority of votes cast against them.

Key Highlights

  • 1All 12 incumbent directors were overwhelmingly re-elected to serve until the 2020 annual meeting.
  • 2Shareholders ratified the appointment of Deloitte & Touche LLP as UPS's independent registered public accounting firm for the fiscal year ending December 31, 2019.
  • 3A shareholder proposal requesting an annual report on lobbying activities was not approved.
  • 4A shareholder proposal to reduce the voting power of Class A stock did not pass.
  • 5A shareholder proposal to assess the integration of sustainability metrics into executive compensation failed to gain majority support.

Frequently Asked Questions

The primary outcome was the re-election of all 12 directors to the board with strong shareholder support, and the ratification of Deloitte & Touche LLP as the independent auditor. Several shareholder proposals, however, did not pass.

Yes, all 12 directors proposed for election received significantly more "for" votes than "against" votes, indicating strong shareholder confidence in the current board.

Shareholders overwhelmingly ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2019.

No, all three shareholder proposals presented were voted down by the majority of shareholders. These proposals concerned lobbying activities, stock voting power, and sustainability metrics in executive compensation.