8-KShareholder Matters

WESTERN DIGITAL CORP 8-K Report, Shareholder Vote Results (Nov 12, 2010)

Filed November 12, 2010For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on November 12, 2010, detailing the results of its annual stockholder meeting held on November 10, 2010. The primary focus of this filing is the voting outcomes on key corporate governance matters. Investors are provided with the explicit results of director elections and the ratification of the company's independent auditor. This report confirms the re-election of eleven directors and the appointment of KPMG LLP as the independent registered public accounting firm for the upcoming fiscal year. The overwhelming majority of votes cast in favor for both these items indicate strong shareholder support for the current board and the chosen auditing firm, suggesting stability in the company's leadership and financial oversight.

Key Highlights

  • 1The annual stockholder meeting of Western Digital Corporation was held on November 10, 2010.
  • 2All eleven nominated directors were elected to serve until the next annual meeting, with significant support from stockholders.
  • 3KPMG LLP was ratified as the independent registered public accounting firm for the fiscal year ending July 1, 2011.
  • 4The election of directors saw a high number of 'For' votes, with minimal 'Against' or 'Abstain' votes for most nominees.
  • 5The ratification of KPMG LLP also received overwhelming approval from stockholders.
  • 6Broker non-votes were recorded for the director elections, indicating shares held in "street name" where instructions were not provided by the beneficial owner.
  • 7The filing provides detailed vote counts for each director and for the auditor ratification.

Frequently Asked Questions

The main outcomes were the election of eleven directors to the board and the ratification of KPMG LLP as the company's independent auditor for the fiscal year ending July 1, 2011. Both proposals received substantial support from the shareholders.

No, all eleven nominated directors were elected without significant opposition, as indicated by the high number of 'For' votes and relatively low 'Against' or 'Abstain' votes for each nominee.

The filing indicates the ratification of KPMG LLP's appointment for the fiscal year ending July 1, 2011. This suggests that KPMG LLP was likely the auditor for the previous period as well, and the shareholders are approving their continued engagement.

Broker non-votes occur when shares are held by a broker or nominee in 'street name' for the benefit of the actual owner. If the beneficial owner does not provide voting instructions, the broker is not allowed to vote these shares on certain matters, such as director elections (which are considered non-routine matters under exchange rules).