Business Context and Reporting Period
This Form 8-K filing by Molson Coors Brewing Company reports on the results of the annual meeting of stockholders held on June 2, 2010, in Denver, Colorado. The filing was submitted on June 7, 2010.
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
The following matters were submitted to a vote of the stockholders:
- Election of Directors:
- Class A Directors: All 11 nominees (including Francesco Bellini, Rosalind G. Brewer, Peter H. Coors, and Andrew T. Molson) received significant "For" votes, ranging from approximately 5.09 million to 5.12 million. "Withheld" votes were minimal, ranging from 576 to 27,852. Broker non-votes totaled 18,921 for each Class A nominee.
- Class B Directors:
- John E. Cleghorn received 140,799,923 "For" votes and 2,541,237 "Withheld" votes.
- Charles M. Herington received 106,786,640 "For" votes and 36,554,520 "Withheld" votes.
- David P. O'Brien received 89,735,260 "For" votes and 53,605,900 "Withheld" votes.
- Ratification of Auditors: The appointment of PricewaterhouseCoopers as the independent registered public accounting firm for the fiscal year ending December 25, 2010, was ratified with 5,145,866 "For" votes, 0 "Against" votes, and 899 "Abstain" votes.
- Compensation Plan Amendment: The amendment and restatement of the Molson Coors Brewing Company Incentive Compensation Plan was approved with 5,125,648 "For" votes, 1,787 "Against" votes, 409 "Abstain" votes, and 18,921 Broker Non-Votes.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the final composition of the Board of Directors following the election of Class A and Class B directors.
- Confirm the implementation of the amended Incentive Compensation Plan.
- Review the full proxy statement for details on the significant number of "Withheld" votes for Class B directors.