CommVault Systems Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report, filed on August 30, 2011, covers events occurring on August 24, 2011. The report details the results of CommVault Systems, Inc.'s fiscal 2011 Annual Meeting of Stockholders held in Oceanport, New Jersey.
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 and stockholder voting outcomes rather than financial performance data.
Material Changes and Voting Results
Stockholders voted on four primary matters at the Annual Meeting:
- Election of Directors: Three Class II Directors were elected for terms expiring in 2014.
- Alan G. Bunte: 37,125,427 For; 1,193,504 Withhold.
- Frank J. Fanzilli, Jr.: 37,568,561 For; 750,370 Withhold.
- Daniel Pulver: 37,071,998 For; 1,246,933 Withhold.
- Appointment of Auditors: Stockholders ratified the appointment of Ernst & Young LLP as independent public accountants for the fiscal year ending March 31, 2012 (38,816,570 For; 1,899,901 Against).
- Executive Compensation (Say-on-Pay): Stockholders approved the Company's executive compensation on an advisory basis (37,360,039 For; 953,144 Against).
- Frequency of Compensation Votes: Stockholders voted on the frequency of future advisory votes. The majority (32,215,053 votes) selected an annual frequency.
Guidance, Outlook, and Management Commentary
Based on the stockholder advisory vote results, the Board of Directors established a policy to submit executive compensation to stockholders for a non-binding advisory vote annually. This policy will remain in effect at least until the next Annual Meeting where a vote on frequency is conducted. The filing contains no financial guidance, risk factors, or contingencies.
Key Facts for Investor Verification
- Confirmation that the three Class II Directors were successfully elected.
- Verification that the Board adopted an annual frequency for future "say-on-pay" votes.
- Confirmation that Ernst & Young LLP was ratified as the independent auditor for the fiscal year ending March 31, 2012.