Business Context and Reporting Period
This Form 8-K filing by Wyndham Worldwide Corporation (referred to in metadata as Travel & Leisure Co.) reports on the Annual Meeting of Shareholders held on May 12, 2011. The report was filed on May 18, 2011.
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 and shareholder voting results.
Material Changes and Voting Results
Five proposals were submitted to shareholders. The final voting results were as follows:
- Proposal 1 (Election of Directors): James E. Buckman and George Herrera were elected. Buckman received 146,821,877 votes for; Herrera received 145,207,177 votes for.
- Proposal 2 (Executive Compensation Advisory Vote): Approved. 131,190,931 votes for vs. 18,826,606 votes against.
- Proposal 3 (Frequency of Compensation Advisory Vote): Shareholders voted in favor of an annual vote. 141,226,472 votes for "One Year" vs. 8,566,435 votes for "Three Years".
- Proposal 4 (Ratification of Auditors): Deloitte & Touche LLP was ratified. 152,804,791 votes for vs. 6,776,646 votes against.
- Proposal 5 (Elimination of Classified Board): The shareholder proposal to eliminate the classified Board of Directors was approved. 119,329,192 votes for vs. 30,590,259 votes against.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, future outlook, management commentary on operations, or specific risk factors. The document is limited to the disclosure of voting outcomes.
Key Facts for Investor Verification
- Shareholders approved the elimination of the classified Board of Directors, which may alter the frequency of director elections.
- Shareholders voted to hold an annual advisory vote on executive compensation.
- Deloitte & Touche LLP was confirmed as the independent auditor for the fiscal year ending December 31, 2011.
- Two directors, James E. Buckman and George Herrera, were elected to terms ending at the 2014 Annual Meeting.