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 2018 Annual Meeting of Stockholders held on May 24, 2018. The filing details the outcomes of shareholder votes regarding director elections and the ratification of the independent auditor.
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.
Material Changes and Voting Results
Two primary matters were submitted to a vote of security holders:
- Election of Class II Directors: Stockholders elected two directors to serve until the 2021 Annual Meeting.
- Michael Nierenberg: Received 144,489,428 votes for, 9,568,760 votes against, and 486,796 abstentions. There were 130,102,697 broker non-votes.
- Kevin J. Finnerty: Received 108,147,785 votes for, 45,927,999 votes against, and 469,200 abstentions. There were 130,102,697 broker non-votes.
- Ratification of Independent Auditor: Stockholders ratified the appointment of Ernst & Young LLP for the fiscal year ending December 31, 2018.
- Votes For: 279,288,614
- Votes Against: 3,836,127
- Abstentions: 1,522,940
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary, risks, contingencies, or unusual items. The document is limited to reporting the vote tallies from the annual meeting.
Important Facts for Investors to Verify
- Verify the significant number of broker non-votes (130,102,697) regarding the director elections, indicating a large portion of shares held in street name lacked voting instructions for this non-routine matter.
- Note the substantial number of votes against the election of Kevin J. Finnerty (45,927,999) compared to Michael Nierenberg (9,568,760).
- Confirm the successful ratification of Ernst & Young LLP with a strong majority of votes in favor.
- Ensure the correct registrant name is New Residential Investment Corp., as the metadata reference to Rithm Capital Corp. appears to be an error in the request context.