Business Context and Reporting Period
This Form 8-K reports on the results of the 2018 Annual Meeting of Shareholders for Michael Kors Holdings Limited (now Capri Holdings Ltd), held on August 1, 2018. The filing details the voting outcomes for four specific proposals submitted to security holders.
Key Financial Metrics
This filing is a current report regarding corporate governance and shareholder voting. It does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
No material financial changes are reported in this document. The filing focuses exclusively on the ratification of directors, the accounting firm, executive compensation, and a shareholder proposal regarding renewable energy.
Outlook, Risks, and Voting Results
A total of 121,790,595 votes were cast, representing 81.17% of total shares outstanding. The specific outcomes were:
- Proposal 1 (Election of Directors): M. William Benedetto, Stephen F. Reitman, and Jean Tomlin were elected. Each received over 108 million votes in favor.
- Proposal 2 (Ratification of Auditors): The appointment of Ernst & Young LLP for the fiscal year ending March 30, 2019, was approved with 117,980,310 votes in favor.
- Proposal 3 (Say on Pay): Executive compensation was approved on a non-binding advisory basis with 108,048,311 votes in favor.
- Proposal 4 (Renewable Energy Resolution): This shareholder proposal was rejected. It received 52,259,738 votes in favor and 60,761,068 votes against, failing to achieve the requisite simple majority.
Investor Verification Checklist
- Verify the rejection of the Renewable Energy Resolution and its potential impact on future ESG initiatives.
- Confirm the continued tenure of the elected directors and the reappointment of Ernst & Young LLP.
- Note that this filing contains no financial data; refer to the most recent 10-K or 10-Q for financial performance.