Walmart shareholders approve directors, compensation

Walmart shared the results of its 47th annual shareholders meeting held June 2.



The company reported that shareholders approved the election of each of Walmart’s 11 director nominees. Each director nominee received affirmative votes from approximately 92.7% or more of the shares present or represented by proxy at the meeting. The approved directors are James I. Cash Jr., Timothy P. Flynn, Carla A. Harris, Thomas W. Horton, Marissa A. Mayer, C. Douglas McMillion, Gregory B. Penner, Steven S. Reinemund, Kevin Y. Systrom, S. Robson Walton, and Steuart L. Walton.



Shareholders voted to approve the compensation of Walmart’s named executive officers, with approximately 98.74% of the shares voting to hold such future advisory votes annually. The board of directors had recommended a frequency of one year, the company reported.



Shares also approved the compensation of the chain’s named executive officers described in Walmart’s 2017 proxy statement, with approximately 83.14% of eligible shareholders voting in favor of this proposal. The board of directors had recommended a vote for this. proposal.



The group also ratified the appointment of Ernst & Young LLP as Walmart’s independent accountants. Approximately 99.23% of eligible shares voted in favor.



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 shares and, accordingly, they did not pass. These were a request to adopt an independent chairman policy (approximately 15.15% of the shares voted in favor); shareholder proxy access (although the proposal was not formally presented at the meeting 26.24% of the shares voted in support of this proposal); request for independent director with environmental expertise (approximately 2.13% voted in favor), and request for annual reporting of additional demographic information about full- and part-time associates in the U.S. (less than 0.01% of the shares were in favor).



The official voting results for each item voted on by shareholders will be disclosed in a report to be filed next week with the Securities and Exchange Commission, according to Walmart.