Business Context and Reporting Period
This Form 8-K filing by Ball Corporation (Ball Corp) covers events occurring on April 27 and April 28, 2016. The report primarily addresses the announcement of first-quarter 2016 earnings results and the outcomes of the Annual Meeting of Shareholders held on April 27, 2016.
Key Financial Metrics
The filing references the issuance of a press release containing first-quarter 2016 earnings information and the use of non-GAAP financial measures. However, the specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity are not included in the text of this Form 8-K; they are contained within the attached press releases (Exhibits 99.1 and 99.2).
Material Changes and Corrections
A material event reported in this filing is the issuance of a corrective press release on April 28, 2016. This release was issued to correct an error in the financials previously reported by the Company. The filing does not detail the specific nature or magnitude of the error within the main text.
Shareholder Vote Results
The filing details the results of three matters voted on at the Annual Meeting:
- Election of Directors: Hanno C. Fiedler and Georgia R. Nelson were elected. Both received over 86 million votes "For" and approximately 32 million votes "Withheld."
- Ratification of Auditor: The appointment of PricewaterhouseCoopers LLP as the independent auditor for 2016 was ratified with 125,801,999 votes "For," 1,735,928 "Against," and 363,228 "Abstain."
- Executive Compensation: The non-binding advisory vote on executive compensation received 113,770,059 votes "For," 4,265,871 "Against," 974,557 "Abstain," and 8,890,668 "Broker Non-Votes."
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated April 28, 2016) for the specific first-quarter 2016 financial results.
- Review Exhibit 99.2 (Press Release dated April 28, 2016) to understand the specific financial error that was corrected and the impact on previously reported figures.
- Verify the reconciliation of non-GAAP financial measures referenced in the press release against GAAP results.