Wal-Mart Stores, Inc. (NYSE: WMT) today announced shareholder voting results for its Annual Shareholders’ Meeting held June 6. Approximately 89.93 percent of all outstanding shares were present or represented by proxy at the meeting. The company reported that shareholders approved the election of each of Walmart’s 14 director nominees. Each director nominee received affirmative votes from approximately 86.81 percent or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded to the nearest 1/100 of 1 percent):
|Aida M. Alvarez||92.49%||7.51%|
|James I. Cash, Jr.||94.01%||5.99%|
|Roger C. Corbett||97.92%||2.08%|
|Pamela J. Craig||95.78%||4.22%|
|Douglas N. Daft||96.69%||3.31%|
|Michael T. Duke||86.81%||13.19%|
|Timothy P. Flynn||97.08%||2.92%|
|Marissa A. Mayer||97.89%||2.11%|
|C. Douglas McMillon||99.21%||0.79%|
|Gregory B. Penner||97.50%||2.50%|
|Steven S Reinemund||97.76%||2.24%|
|Jim C. Walton||97.50%||2.50%|
|S. Robson Walton||88.86%||11.14%|
|Linda S. Wolf||96.33%||3.67%|
Shareholders voted to approve, on an advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2014 proxy statement, with approximately 86.41 percent of the shares present in person or represented by proxy voting in favor of this proposal. The Board of Directors had recommended a vote for this proposal.The three shareholder proposals, which the Board of Directors recommended against, failed to receive affirmative votes from a majority of the total shares that were represented at the meeting and entitled to vote and, accordingly, they were defeated. A report on the approximate percentages of the shares present or represented by proxy at the meeting that were voted in favor of each shareholder proposal follows:
- Proposal 4 – Independent chairman policy: approximately 15.37 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Proposal 5 – Request for annual report on recoupment of executive pay: approximately 14.70 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Proposal 6 – Request for annual report on lobbying: approximately 10.99 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.