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Chesapeake Energy Corporation Announces Preliminary Voting Results From Annual Shareholder Meeting

Stocks in this article: CHK

Chesapeake Energy Corporation (NYSE:CHK) announced preliminary voting results from its Annual Meeting of Shareholders held earlier today at the company’s Oklahoma City headquarters. The preliminary results are as follows:

Item 1: Election of Directors:Directors Bob G. Alexander, Merrill A. “Pete” Miller, Jr., Thomas L. Ryan, Vincent J. Intrieri, Frederic M. Poses, Archie W. Dunham, R. Brad Martin, and Louis A. Raspino were re-elected to the Board of Directors, receiving an average affirmative vote of 96% of the votes cast.

Item 2: Proposal to declassify the Board of Directors:The proposal did not pass, receiving the affirmative vote of only 60% of the shares outstanding, which was less than the two-thirds required for shareholder approval of an amendment to the company’s certificate of incorporation.

Item 3: Proposal to implement proxy access:The proposal did not pass, receiving the affirmative vote of only 60% of the shares outstanding, which was less than the two-thirds required for shareholder approval of an amendment to the company’s bylaws.

Item 4: Proposal to eliminate supermajority voting requirements:The proposal did not pass, receiving the affirmative vote of only 60% of the shares outstanding, which was less than the two-thirds required for shareholder approval of an amendment to the company’s certificate of incorporation.

Item 5: Proposal to amend the 2003 Stock Award Plan for non-employee directors:The proposal passed, receiving the support of more than 96% of the votes cast.

Item 6: Shareholder advisory vote to approve our named executive officer compensation:The proposal passed, receiving the support of more than 84% of the votes cast.

Item 7: Proposal to amend long term incentive plan:The proposal passed, receiving the support of more than 94% of the votes cast.

Item 8: Proposal to approve annual incentive plan:The proposal passed, receiving the support of more than 97% of the votes cast.

Item 9: Ratification of independent registered public accounting firm:The proposal passed, receiving the support of more than 98% of the votes cast.

Item 10: Shareholder proposal relating to the creation of a risk oversight committee:The proposal did not pass, receiving the support of less than 4% of the votes cast.

Item 11: Shareholder proposal relating to re-incorporation in Delaware:The proposal did not pass, receiving the support of less than 3% of the votes cast.

Item 12: Shareholder proposal relating to accelerated vesting of senior executives’ equity awards upon a change of control:The proposal did not pass, receiving the support of approximately 27% of the votes cast.

The Board of Directors will review the results of the votes on proposals 2, 3 and 4 and intends to seek feedback from shareholders before deciding on next steps.

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