Preliminary Voting Results From General Motors’ 2014 Annual Stockholders Meeting
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General Motors has just wrapped up its 2014 Annual Stockholders Meeting. Owners of GM stock voted on a new board of directors and the election of Deloitte & Touche as the automaker’s accounting firm for 2014 among 6 other proposals. The preliminary voting results represent about 82.3 percent of all eligible votes. The outcomes of voting are below.
1. Election Of Directors
Item 1 on the Stockholders meeting agenda was the election of directors. The director nominees include:
- Joseph F. Ashton
- Mary T. Barra
- Erroll B. Davis Jr.
- Stephen J. Girsky
- E. Neville Isdell
- Kathryn V. Marinello
- Admiral Michael G. Mullen
- James J. Mulva
- Patricia F. Russo
- Thomas M. Schoewe
- Theodore M. Solso
- Carol M. Stephenson
Each director received at least 87.2 percent of the votes cast. Nine members of the board, including Theodore Solso, Kathryn. V Marinello and James J. Mulva are returning members from last year’s board.
2. Selection Of The Public Accounting Firm
Item 2 involved ratifying the selection of Deloitte & Touche LLP as the independent registered public accounting firm for 2014. Deloitte & Touche was also the public accounting firm for GM in 2013.
| % For | % Against | % Abstain |
|---|---|---|
| 98.6 | 1.0 | 0.4 |
3. Advisory Vote To Approve Executive Compensation
Item 3 on the agenda consisted of voting to approve executive compensation.
| % For | % Against | % Abstain |
|---|---|---|
| 96.5 | 3.2 | 0.3 |
4. Vote To Approve Frequency Of Stockholder Vote On Executive Compensation
Item 4 saw the advisory vote to approve the frequency of a stockholder advisory vote on compensation for GM executives.
| % 1 Year | % 2 Years | % 3 Years | Abstain |
|---|---|---|---|
| 82.8 | 0.4 | 16.5 | 0.3 |
5. Approval Of General Motors 2014 Short-Term Incentive Plan
Item 5 involved voting on General Motors’ short-term incentive plan for 2014.
| % For | % Against | % Abstain |
|---|---|---|
| 95.6 | 4.1 | 0.3 |
6. Approval of General Motors 2014 Long-Term Incentive Plan
Item 6 involved voting on General Motors’ long-term incentive plan for 2014.
| % For | % Against | % Abstain |
|---|---|---|
| 95.1 | 4.6 | 0.3 |
7.Stockholder Proposal Regarding Cumulative Voting
Item 7 saw stockholders vote on the proposal regarding cumulative voting.
| % For | % Against | % Abstain |
|---|---|---|
| 35.8 | 63.9 | 0.3 |
8. Stockholder Proposal Regarding Independent Board Chairman
The final item on the agenda saw stockholders vote on the proposal regarding an independent board chairman.
| % For | % Against | % Abstain |
|---|---|---|
| 38.5 | 61.4 | 0.1 |
GM notes these are preliminary voting results. The final results will be filed with the U.S. Securities and Exchange Commission and posted to the automaker’s website within four business days.
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