Walmart shareholders decide on directors, compensation

Senior management of Walmart Stores Inc. should be happy with the results of its 46th annual shareholders meeting held June 3.



The company reported that shareholders approved the election of each of Walmart’s 12 director nominees. Each director nominee received affirmative votes from approximately 94.5% or more of the shares voted, excluding abstentions and broker non-votes. The approved directors are James I. Cash Jr., Pamela J. Craig, Timothy P. Flynn, Thomas W. Horton, Marissa A. Mayer, C. Douglas McMillion, Gregory B. Penner, Steven S. Reinemund, Kevin Y. Systrom, S. Robson Walton, Steuart L. Walton, and Linda S. Wolf.



Shareholders also voted to approve, on an advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2016 proxy statement, with approximately 85% of eligible shares voting in favor of this proposal. The board of directors had recommended a vote for this proposal.



In addition, shareholders also voted to approve the 2016 associate stock purchase plan, with approximately 99% of eligible shares voting in favor of this proposal. The board of directors previously had approved the associate stock purchase plan, subject to shareholder approval.



Shareholders also ratified Ernst & Young LLP as Walmart’s independent accountants, with affirmative votes from approximately 99.5% of eligible shares voting in favor.



Three shareholder proposals, each of which the board of directors had recommended a vote against, failed to receive affirmative votes from a majority of eligible shares and did not pass. These were a request to adopt an independent chairman policy (about 15% of eligible shares voted in favor), a request for an annual report regarding incentive compensation plans: (about 9.5% of eligible shares voted in favor), and a request for a report regarding criteria for operating in high-risk regions (about 1% of eligible shares voted in favor).