Business Context and Reporting Period
This Form 8-K filing by Black Hills Corporation reports on the results of the Annual Meeting of Shareholders held on April 23, 2013. The filing details the voting outcomes for four proposals submitted to security holders.
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 specific proposals with the following outcomes:
- Proposal 1 (Election of Directors): Shareholders elected three directors (Jack W. Eugster, Gary L. Pechota, and Thomas J. Zeller) to three-year terms expiring in 2016.
- Jack W. Eugster: 32,244,110 For; 1,276,183 Withheld.
- Gary L. Pechota: 33,087,221 For; 433,072 Withheld.
- Thomas J. Zeller: 32,103,878 For; 1,416,415 Withheld.
- Broker Non-Votes: 7,298,055 for all nominees.
- Proposal 2 (Ratification of Auditors): Shareholders approved the appointment of Deloitte & Touche, LLP as the independent registered public accounting firm for 2013.
- For: 40,107,550
- Against: 531,606
- Abstain: 179,192
- Proposal 3 (Executive Compensation): Shareholders approved, on an advisory and non-binding basis, the compensation of named executive officers.
- For: 29,407,957
- Against: 1,850,552
- Abstain: 2,261,784
- Broker Non-Votes: 7,298,055
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The document is limited to the disclosure of voting results.
Important Facts for Investors
- The Annual Meeting achieved a quorum of shares.
- All three directors nominated were successfully elected.
- The appointment of Deloitte & Touche, LLP as the 2013 auditor was ratified.
- The advisory vote on executive compensation passed, though a significant number of shares voted against or abstained.
- Broker non-votes totaled 7,298,055 for the director elections and the executive compensation proposal.