W&T Offshore, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the results of the 2014 Annual Meeting of Shareholders held by W&T Offshore, Inc. on May 6, 2014, in Houston, Texas. The filing details the voting outcomes for three specific 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 rather than financial performance data.
Material Changes and Voting Results
The following proposals were voted upon and approved by shareholders:
- Proposal 1 (Election of Directors): All six nominees were elected to hold office until the 2015 Annual Meeting.
- Virginia Boulet: 66,249,265 votes for; 1,493,111 withheld.
- Robert I. Israel: 67,336,282 votes for; 406,094 withheld.
- Stuart B. Katz: 66,633,008 votes for; 1,109,368 withheld.
- Tracy W. Krohn: 60,119,045 votes for; 7,623,331 withheld.
- S. James Nelson, Jr.: 67,340,886 votes for; 401,490 withheld.
- B. Frank Stanley: 66,616,128 votes for; 1,126,248 withheld.
- Proposal 2 (Executive Compensation): The non-binding advisory vote to approve named executive officer compensation was approved.
- Votes For: 56,747,668
- Votes Against: 10,937,971
- Abstentions: 56,737
- Proposal 3 (Auditor Ratification): The appointment of Ernst & Young LLP as independent public accountants for the year ended December 31, 2014, was ratified.
- Votes For: 70,825,444
- Votes Against: 129,932
- Abstentions: 2,942
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. For additional context on the proposals, the filing references the definitive proxy statement filed on April 2, 2014.
Key Facts for Investor Verification
- Verify the total number of shares outstanding to calculate the percentage of votes cast for each proposal.
- Review the April 2, 2014 proxy statement for detailed biographies of the elected directors and the specific compensation metrics approved in Proposal 2.
- Note that Tracy W. Krohn received the highest number of votes withheld (7,623,331) among the director nominees.
- Confirm the effective date of the auditor appointment for the fiscal year ending December 31, 2014.