SEC Filing Summary: Alexander & Baldwin, Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed by Alexander & Baldwin, Inc. on April 26, 2011. The report details the results of the Company's Annual Meeting of Shareholders held on the same date. Note: The request metadata referenced "Matson, Inc.", but the filing text explicitly identifies the registrant as Alexander & Baldwin, Inc.
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 and shareholder voting outcomes.
Material Changes and Voting Results
The following matters were submitted to a vote of security holders:
- Election of Directors: Nine directors were elected to the Board. All nominees received significant majority support, with broker non-votes totaling 3,811,142 for each candidate.
- Advisory Vote on Compensation Frequency: Shareholders voted on the frequency of future advisory votes on executive compensation. The majority (27,871,531 votes) favored an annual (1-year) frequency.
- Advisory Vote on Executive Compensation: The "Say-on-Pay" proposal was approved with 32,240,721 votes for, 507,256 against, and 838,268 abstentions.
- Ratification of Auditors: The appointment of Deloitte & Touche LLP as the Independent Registered Public Accounting Firm was ratified with 36,832,888 votes for.
Guidance, Outlook, and Management Commentary
Based on the voting results regarding the frequency of advisory votes on executive compensation, the Board of Directors determined that the Company will hold an annual advisory vote on the compensation of named executive officers until the next required vote on this frequency.
Key Facts for Investor Verification
- Verify the specific slate of nine directors elected to the Board of Directors.
- Confirm the Board's decision to proceed with annual executive compensation advisory votes.
- Note that this filing contains no financial performance data; refer to the most recent 10-K or 10-Q for financial metrics.
- Confirm the ratification of Deloitte & Touche LLP as the independent auditor.