Business Context and Reporting Period
This Form 8-K filing by Westlake Chemical Corporation reports on events occurring on May 10, 2016, specifically the results of the Company's 2016 Annual Meeting of Stockholders.
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
Two matters were submitted to a vote of security holders at the Annual Meeting:
- Election of Directors: Three members of the board of directors were elected.
- Robert T. Blakely: 120,010,684 votes for; 917,610 votes withheld.
- Albert Chao: 104,896,477 votes for; 16,031,817 votes withheld.
- Michael J. Graff: 99,689,344 votes for; 21,238,950 votes withheld.
- Broker Non-Votes: 4,163,135 for all candidates.
- Ratification of Auditors: The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2016, was ratified.
- Votes For: 124,916,777
- Votes Against: 150,115
- Abstentions: 24,537
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the final composition of the Board of Directors following the election of Robert T. Blakely, Albert Chao, and Michael J. Graff.
- Confirm the engagement of PricewaterhouseCoopers LLP for the 2016 fiscal year audit.
- Note the significant number of votes withheld for Albert Chao and Michael J. Graff compared to Robert T. Blakely.