General Motors has just announced the preliminary results of voting from its 2018 annual meeting of shareholders. The results represent 85 percent of shares eligible to be voted, and are as follows:
Item 1: Election of directors
Average percentage of votes cast “for” each director nominee: 99%
Item 2: Advisory vote to approve named executive officer compensation
Percentage of votes cast “for” Item 2: 97%
Item 3: Ratification of the selection of Ernst & Young LLP as the company’s independent registered public accounting firm for 2018.
Percentage of votes cast “for” Item 3: 98%
Item 4: Shareholder proposal regarding independent board chairman.
Percentage of votes cast “for” Item 4: 35%
Item 5: Shareholder proposal regarding shareholder action by written consent.
Percentage of votes cast “for” Item 5: 38%
Item 6: Shareholder proposal regarding a report on greenhouse gas emissions and CAFE standards.
Percentage of votes cast “for” Item 6: 27%
In a press release, GM stated that the Board and its committees will consider the results of the votes when evaluating the company’s governance and compensation practices.
Additionally, final voting results will be filed with the U.S. Securities and Exchange Commission on Form 8-K and posted to www.gm.com once they are certified by the independent inspector of elections.
GM Authority will cover each one of the six aforementioned items when GM files the Form 8-K.