W&T Offshore, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K covers the 2019 Annual Meeting of Shareholders held by W&T Offshore, Inc. on May 1, 2019, in Houston, Texas. The filing details the voting results for the election of directors and the ratification of independent auditors.
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 outcomes.
Material Changes and Voting Results
The following proposals were submitted to a vote of security holders:
- Proposal 1: Election of Directors
- All five nominees were elected.
- Tracy W. Krohn received the highest support with 105,457,931 votes for and only 2,199,752 votes withheld.
- Virginia Boulet received 71,107,714 votes for and 36,549,969 votes withheld.
- Stuart B. Katz received 82,104,400 votes for and 25,553,283 votes withheld.
- S. James Nelson, Jr. received 82,724,766 votes for and 24,932,917 votes withheld.
- B. Frank Stanley received 77,627,598 votes for and 30,030,085 votes withheld.
- There were 25,201,200 broker non-votes for each director nominee.
- Proposal 2: Ratification of Auditors
- The appointment of Ernst & Young LLP as independent registered public accountants was approved.
- Votes For: 131,344,287
- Votes Against: 1,248,606
- Abstentions: 265,990
- Broker Non-Votes: 0
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. For additional information on the proposals, the filing references the definitive proxy statement filed on March 21, 2019.
Key Facts for Investor Verification
- Verify the total number of shares outstanding to contextualize the voting percentages.
- Review the March 21, 2019 proxy statement for detailed biographies of the elected directors and the rationale for the auditor appointment.
- Note the significant number of broker non-votes (25,201,200) on the director election, indicating shares held in street name where brokers lacked discretionary voting power.
- Confirm the tenure of the newly elected directors, which extends until the 2020 Annual Meeting.