Business Context and Reporting Period
This Form 8-K reports on the results of the 2016 Annual Meeting of Shareholders for Principal Financial Group, Inc., held on May 17, 2016. The filing details the outcomes of shareholder votes regarding director elections, executive compensation, and auditor ratification.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Shareholders voted on three primary matters. The results are summarized below:
- Election of Class III Directors: Four directors were elected for terms expiring at the 2019 Annual Meeting.
- Michael T. Dan: 182,483,500 For; 6,691,370 Against.
- C. Daniel Gelatt: 174,631,001 For; 14,529,534 Against.
- Sandra L. Helton: 180,032,118 For; 9,124,124 Against.
- Blair C. Pickerell: 181,042,546 For; 8,088,961 Against.
- Advisory Vote on Executive Compensation: Approved with 179,220,072 votes For and 9,595,684 votes Against.
- Ratification of Independent Auditors: Ernst & Young LLP was ratified with 207,194,910 votes For and 2,182,357 votes Against.
Continuing directors include Class I members (Betsy J. Bernard, Jocelyn Carter-Miller, Dennis H. Ferro) and Class II members (Roger C. Hochschild, Daniel J. Houston, Elizabeth E. Tallett).
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the specific terms of office for the newly elected Class III directors (expiring 2019).
- Confirm the continued tenure of Class I and Class II directors listed in the filing.
- Note the significant number of broker non-votes (20,142,999) recorded for the director elections and executive compensation vote.
- Review the full Proxy Statement for details on the executive compensation package approved by shareholders.