Business Context and Reporting Period
This Form 8-K filing by New Residential Investment Corp. (not Rithm Capital Corp.) reports on the results of the 2014 Annual Meeting of Stockholders held on May 28, 2014. The report was filed on June 2, 2014.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Stockholders voted on two primary matters:
- Election of Directors: Two Class I directors were elected to serve until the 2017 Annual Meeting.
- Alan L. Tyson: 143,421,528 votes for; 1,581,036 votes withheld; 78,452,506 broker non-votes.
- David Saltzman: 86,945,176 votes for; 58,057,388 votes withheld; 78,452,506 broker non-votes.
- Ratification of Auditors: Stockholders ratified the selection of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2014.
- Votes For: 221,819,489
- Votes Against: 973,664
- Abstentions: 661,917
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary, risks, contingencies, or unusual items. It is a procedural report of shareholder voting outcomes.
Important Facts for Investors to Verify
- Verify the significant number of broker non-votes (78,452,506) regarding the director election, indicating a large portion of shares held in street name lacked voting instructions for this non-routine matter.
- Note the substantial number of votes withheld for director nominee David Saltzman (58,057,388) compared to Alan L. Tyson (1,581,036).
- Confirm the successful ratification of Ernst & Young LLP with a strong majority of votes in favor.