UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 9, 2017

 

 

COCA-COLA BOTTLING CO. CONSOLIDATED

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-9286   56-0950585
(State or other jurisdiction
of incorporation)
 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

4100 Coca-Cola Plaza, Charlotte, North Carolina   28211
(Address of principal executive offices)   (Zip Code)

 

(704) 557-4400
(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

 

 

 


Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

(a) On May 15, 2017, Coca-Cola Bottling Co. Consolidated (the “ Company ”) amended Article III, Section 2 of the Company’s Bylaws (as amended, the “ Bylaws ”), effective concurrent with the effectiveness of a corresponding amendment to the Company’s Restated Certificate of Incorporation (the “ Restated Certificate of Incorporation ”) approved by the Company’s stockholders on May 9, 2017, as described below in Item 5.07, to reduce the required minimum number of directors on the Company’s Board of Directors (the “ Board ”) from nine (9) directors to three (3) directors and to eliminate the maximum number of directors on the Board. The Board approved this amendment on May 9, 2017, following stockholder approval of the proposal to amend the Restated Certificate of Incorporation.

The full text of Article III, Section 2 of the Bylaws, as amended, is as follows:

SECTION 2. Number, Term and Qualification . The number of directors of the Corporation shall be determined from time to time by the stockholders or the Board of Directors and shall be not less than three. The term of each director shall be the period from the effective date of such director’s election to the next annual meeting of stockholders and such director’s successor is elected and qualified or until such director’s earlier resignation or removal. Directors need not be residents of the State of Delaware or stockholders of the Corporation.

Item 5.07. Submission of Matters to a Vote of Security Holders.

(a) The Company held its 2017 annual meeting of stockholders (the “ Annual Meeting ”) on May 9, 2017.

(b) At the Annual Meeting, the Company’s stockholders (i) elected all twelve of the Company’s nominees for director to hold office until the next annual meeting of stockholders and the election of their successors or until such director’s earlier resignation or removal; (ii) ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for fiscal 2017; (iii) approved the amendment to the Restated Certificate of Incorporation to reduce the required minimum number of directors on the Board from nine (9) directors to three (3) directors and to eliminate the maximum number of directors on the Board; (iv) approved, on an advisory basis, the Company’s named executive officer compensation in fiscal 2016; (v) voted, on an advisory basis, in favor of holding future advisory votes to approve the Company’s named executive officer compensation every three years; (vi) approved the Coca-Cola Bottling Co. Consolidated Amended and Restated Annual Bonus Plan; and (vii) approved the Coca-Cola Bottling Co. Consolidated Amended and Restated Long-Term Performance Plan. Each of these proposals is further described in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on March 20, 2017.

The final voting results for each of the proposals submitted to the Company’s stockholders at the Annual Meeting are as follows:

1. Election of directors:

 

Nominee

   Votes For      Votes Withheld      Broker Non-Votes  

J. Frank Harrison, III

     48,151,975        1,454,606        991,791  

Sharon A. Decker

     49,386,883        219,698        991,791  

Morgan H. Everett

     48,854,281        752,300        991,791  

Henry W. Flint

     48,220,026        1,386,555        991,791  

James R. Helvey, III

     49,566,163        40,418        991,791  

William H. Jones

     49,574,019        32,562        991,791  

Umesh M. Kasbekar

     48,676,158        930,423        991,791  

Jennifer K. Mann

     48,661,850        944,731        991,791  

James H. Morgan

     49,427,777        178,804        991,791  

John W. Murrey, III

     49,394,190        212,391        991,791  

Sue Anne H. Wells

     48,660,708        945,873        991,791  

Dennis A. Wicker

     49,242,009        364,572        991,791  


2. Ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for fiscal 2017:

 

Votes For

   Votes Against    Abstentions    Broker Non-Votes

50,380,688

   195,817    21,867    0

3. Approval of the amendment to the Restated Certificate of Incorporation to reduce the required minimum number of directors and eliminate the maximum number of directors on the Board:

 

Votes For

   Votes Against    Abstentions    Broker Non-Votes

49,387,190

   209,831    9,560    991,791

4. Advisory vote to approve the Company’s named executive officer compensation in fiscal 2016:

 

Votes For

   Votes Against    Abstentions    Broker Non-Votes

48,700,219

   885,767    20,595    991,791

5. Advisory vote on the frequency of future advisory votes to approve the Company’s named executive officer compensation:

 

Every Year

   Every 2 Years    Every 3 Years    Abstentions    Broker Non-Votes

2,323,386

   12,837    47,247,805    22,553    991,791

6. Approval of the Coca-Cola Bottling Co. Consolidated Amended and Restated Annual Bonus Plan:

 

Votes For

   Votes Against    Abstentions    Broker Non-Votes

49,532,120

   54,853    19,608    991,791

7. Approval of the Coca-Cola Bottling Co. Consolidated Amended and Restated Long-Term Performance Plan:

 

Votes For

   Votes Against    Abstentions    Broker Non-Votes

49,379,673

   208,590    18,318    991,791

(d) In accordance with the recommendation of the Board, the Company’s stockholders voted, on an advisory basis, in favor of holding future advisory votes to approve the Company’s named executive officer compensation every three years. Based on the voting results, the Company will include an advisory stockholder vote to approve the Company’s named executive officer compensation in its proxy materials every three years until the next required advisory vote on the frequency of stockholder votes to approve the Company’s named executive officer compensation, which will occur no later than the Company’s annual meeting of stockholders in 2023.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit No.

  

Description

  

Incorporated By Reference To

3.1    Bylaws of Coca-Cola Bottling Co. Consolidated, as amended and restated.    Filed herewith.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    COCA-COLA BOTTLING CO. CONSOLIDATED
Date: May 15, 2017     By:  

/s/ Clifford M. Deal, III

      Clifford M. Deal, III
      Senior Vice President & Chief Financial Officer


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

EXHIBITS

CURRENT REPORT

ON

FORM 8-K

 

Date of Event Reported:

May 9, 2017

  

Commission File No:

0-9286

COCA-COLA BOTTLING CO. CONSOLIDATED

EXHIBIT INDEX

 

Exhibit No.

  

Description

  

Incorporated By Reference To

3.1    Bylaws of Coca-Cola Bottling Co. Consolidated, as amended and restated.    Filed herewith.
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