Business Context and Reporting Period
Murphy USA Inc. (NYSE: MUSA) filed this Form 8-K on May 7, 2020, to report the results of its annual meeting of stockholders held on that date.
Key Financial Metrics
This filing is a current report regarding corporate governance events and does not contain financial statements. Consequently, data regarding revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes
No material financial changes or operational updates are reported in this filing. The document solely details the outcomes of shareholder votes.
Management Commentary and Governance Results
The following matters were submitted to a vote of security holders and approved:
- Election of Directors: All Class I directors proposed by management were elected.
- Claiborne P. Deming: 24,903,208 votes For; 179,012 votes Withheld.
- Hon. Jeanne L. Phillips: 24,646,670 votes For; 435,550 votes Withheld.
- Jack T. Taylor: 24,962,686 votes For; 119,534 votes Withheld.
- Executive Compensation: The advisory, non-binding vote on executive compensation was approved with 24,508,652 shares voted in favor, 502,238 against, and 71,330 abstentions.
- Auditor Ratification: Stockholders approved the appointment of KPMG LLP as the independent registered public accounting firm for the 2020 fiscal year with 27,395,003 shares voted in favor, 29,087 against, and 78,138 abstentions.
Total broker non-votes were recorded at 2,420,008.
Investor Verification Checklist
- Verify the full slate of Class I directors elected for their tenure terms.
- Confirm the ratification of KPMG LLP as the independent auditor for the 2020 fiscal year.
- Review the "Say on Pay" vote results to assess shareholder sentiment regarding executive compensation.
- Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.