Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Shareholders for Applied Materials, Inc. held on March 7, 2024. The filing details the voting results for five proposals submitted to security holders.
Key Financial Metrics
This filing is a current report regarding corporate governance and shareholder voting. It does not provide financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. Investors should refer to the company's most recent Form 10-K or 10-Q for financial performance details.
Material Changes and Voting Results
The following outcomes were determined at the Annual Meeting:
- Proposal 1 (Election of Directors): All ten nominees were elected. While all received majority support, Thomas J. Iannotti and Alexander A. Karsner received the highest "Against" votes relative to "For" votes among the nominees.
- Proposal 2 (Executive Compensation): The advisory vote on Named Executive Officer compensation for Fiscal Year 2023 was approved (572,991,421 For vs. 53,019,540 Against).
- Proposal 3 (Auditor Ratification): The appointment of KPMG LLP as the independent registered public accounting firm for Fiscal Year 2024 was ratified (687,915,040 For vs. 32,706,079 Against).
- Proposal 4 (Lobbying Report): A shareholder proposal requesting a report on lobbying policies and payments was not approved (104,007,724 For vs. 515,597,291 Against).
- Proposal 5 (Pay Equity Reporting): A shareholder proposal requesting quantitative reporting on median and adjusted pay gaps across race and gender was not approved (132,865,911 For vs. 489,590,154 Against).
Guidance, Outlook, and Risks
This filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is strictly limited to the disclosure of shareholder voting results.
Key Facts for Investor Verification
- Verify the specific vote counts for directors Thomas J. Iannotti and Alexander A. Karsner, who faced higher opposition than other nominees.
- Note that shareholders rejected both the lobbying disclosure proposal and the pay equity reporting proposal by significant margins.
- Confirm that KPMG LLP has been ratified as the auditor for the upcoming fiscal year.
- Recognize that this document contains no financial performance data; review separate quarterly or annual reports for fiscal metrics.