Walmart Announces 2020 Formal Business and Annual Shareholders’ Meeting Voting Results
June 03 2020 - 2:28PM
Business Wire
Walmart Inc. (NYSE: WMT) today announced shareholder voting
results for its Formal Business and Annual Shareholders’ Meeting,
which was conducted by a virtual meeting due to the public health
impact from the coronavirus outbreak (COVID-19). Approximately 91.7
percent of all outstanding shares were represented at the
meeting.
During the business meeting, Walmart President and CEO Doug
McMillon commented, “Despite operating in a difficult and volatile
environment, our associates have been amazing. They have performed
incredibly well given all the challenges. The killing of George
Floyd is tragic, painful and unacceptable. It’s important that we
all understand that our problems, as a nation, run much deeper than
one horrible event. The pain we’re feeling reminds us of the need
to support each other and come together. Until we, as a nation,
confront and address these hard realities, we will never achieve
the best of what we can be. Walmart is an inclusive company. That
is fundamental to our values and culture and we remain committed to
those principles. We’re motivated to continue our work related to
diversity and inclusion inside our company and to find ways to
influence the various systems that exist in our country in a more
impactful, positive and inclusive way. In terms of our response to
the COVID-19 pandemic, we are grateful to our associates from
around the world. They are stepping up to serve our customers,
communities and shareholders. Our plan is to continue finding ways
to help and serve. We’re thankful to have a strong and
well-positioned business from which to do so.”
The company reported that shareholders approved the election of
each of Walmart’s 11 director nominees. Each director nominee
received affirmative votes from approximately 96.5 percent or more
of the shares voted, excluding abstentions and broker non-votes, as
follows (all percentages are rounded):
Director Nominee
For
Cesar Conde
99.7
Timothy P. Flynn
99.3
Sarah J. Friar
99.7
Carla A. Harris
99.1
Thomas W. Horton
96.7
Marissa A. Mayer
99.3
C. Douglas McMillon
99.3
Gregory B. Penner
96.5
Steven S Reinemund
98.3
S. Robson Walton
97.0
Steuart L. Walton
97.1
Shareholders voted to approve, on a non-binding, advisory basis,
the compensation of Walmart’s named executive officers described in
Walmart’s 2020 proxy statement, with approximately 94.3 percent of
the participating shares voting in favor of this proposal. The
Board of Directors had recommended a vote for this proposal.
Shareholders also ratified the appointment of Ernst & Young
LLP as Walmart’s independent accountants, with affirmative votes
from approximately 98.5 percent of the participating and entitled
shares. The Board of Directors had recommended a vote for this
proposal.
Shareholders also voted to approve an Amendment to the ASDA
Sharesave Plan, making available an additional 10 million Shares to
be available for issuance under the plan, with approximately 98.1
percent of the participating shares voting in favor of this
proposal. The Board of Directors had recommended a vote for this
proposal.
The Board of Directors had recommended a vote against each of
the four shareholder proposals, and each proposal failed to receive
affirmative votes from a majority of the total participating and
entitled shares that were represented at the meeting and,
accordingly, did not pass.
- Request to report on impacts of single-use plastic bags:
Approximately 17.0 percent of the participating shares that were
entitled to vote.
- Request to report on supplier antibiotics use standards:
Approximately 3.8 percent of the participating shares that were
entitled to vote.
- Request to include hourly associates as director candidates:
Approximately 1.9 percent of the participating shares that were
entitled to vote.
- Request to report on strengthening prevention of workplace
sexual harassment: Approximately 13.2 percent of the participating
shares that were entitled to vote.
The official voting results for each item voted on by
shareholders will be disclosed in a report to be filed Friday with
the Securities and Exchange Commission.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere – in retail stores,
online, and through their mobile devices. Each week, over 265
million customers and members visit approximately 11,500 stores
under 56 banners in 27 countries and eCommerce websites. With
fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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