8-K/AShareholder Matters

WESTERN DIGITAL CORP 8-K/A Report, Shareholder Vote Results (Mar 21, 2018)

Filed March 21, 2018For Securities:WDC

Summary

This 8-K Amendment from Western Digital Corporation (WDC) clarifies a previous filing regarding a shareholder vote on executive compensation. Specifically, it confirms that stockholders approved, on an advisory basis, holding future advisory votes on the compensation of named executive officers on an annual basis. This means investors will have an annual say, in an advisory capacity, on executive pay until the next such vote on frequency is held. This filing is an amendment to a previous 8-K filed on November 3, 2017, and does not introduce new financial results or significant operational updates. Its primary purpose is to provide a clear record and reaffirm the company's commitment to incorporating an annual advisory vote on executive compensation into its proxy materials, as per shareholder directive.

Key Highlights

  • 1Shareholders approved an annual advisory vote on executive compensation.
  • 2This decision, made on an advisory basis, will be reflected in future proxy statements.
  • 3The company will continue this practice until the next vote on the frequency of such advisory votes.
  • 4This filing is an amendment to a prior 8-K report dated November 3, 2017.
  • 5No new financial data or material business updates are provided in this amendment.

Frequently Asked Questions

The main purpose of this 8-K Amendment is to confirm and clarify that Western Digital Corporation's shareholders approved holding advisory votes on executive compensation every year. This action follows a previous shareholder vote reported in November 2017.

'Advisory basis' means that the shareholder vote on executive compensation is non-binding. While the company will consider the outcome of the vote, it is not legally required to adhere to the shareholders' decision.

Yes, based on the shareholder vote, the company has committed to including an advisory vote on the compensation of its named executive officers in its proxy materials every year until the next vote on the frequency of these advisory votes occurs.

No, this 8-K Amendment does not contain any new financial results or significant operational updates. It solely serves to amend and clarify information regarding shareholder votes on executive compensation.