EPAM Systems, Inc. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the results of the Annual Meeting of Stockholders held by EPAM Systems, Inc. on June 7, 2016. The filing details the voting outcomes for director elections, auditor ratification, and executive compensation approval.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
The following matters were submitted to a vote of security holders:
- Election of Directors: Stockholders elected Karl Robb and Richard Michael Mayoras as Class I directors for a three-year term.
- Karl Robb: 38,658,471 votes FOR; 1,831,573 votes Withheld.
- Richard Michael Mayoras: 39,323,653 votes FOR; 1,166,391 votes Withheld.
- Ratification of Independent Auditors: Stockholders ratified the appointment of Deloitte & Touche LLP for the fiscal year ending December 31, 2016.
- Votes FOR: 48,242,788
- Votes AGAINST: 53,530
- Abstain: 19,405
- Advisory Vote on Executive Compensation: Stockholders approved the compensation for named executive officers for the fiscal year ended December 31, 2015.
- Votes FOR: 37,778,696
- Votes AGAINST: 2,621,966
- Abstain: 89,382
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on future operations, or specific risk factors. It serves solely as a record of the shareholder vote.
Key Facts for Investor Verification
- Confirm the total number of shares entitled to vote (50,577,697) as of the record date of April 15, 2016.
- Verify the successful election of the two Class I directors for terms ending in 2019.
- Note the significant number of broker non-votes (7,825,679) recorded for the director elections and executive compensation vote.
- Review the referenced Proxy Statement filed on April 27, 2016, for detailed descriptions of the proposals and executive compensation specifics.