Business Context and Reporting Period
Western Alliance Bancorporation filed this Form 8-K to report the results of its Annual Meeting of Stockholders held on April 26, 2011. The filing details the voting outcomes for director elections, executive compensation, and auditor ratification.
Key Financial Metrics
This filing is a corporate governance report and does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
No material financial changes are reported in this filing. The document focuses solely on the administrative outcomes of the shareholder vote.
Outlook, Risks, and Management Commentary
The filing confirms that all matters presented to the stockholders were approved. The Company ratified McGladrey & Pullen, LLP as its independent auditors for the fiscal year ending December 31, 2011. No specific guidance, risks, or unusual items were disclosed in this report.
Key Facts for Investors
- Voter Participation: Approximately 88% of outstanding shares (72,132,231 shares) were voted at the Annual Meeting.
- Director Elections: Four Class III directors were elected for three-year terms expiring in 2014. Robert G. Sarver and Sung Won Sohn, PhD. received the highest "For" votes, while John P. Sande III received the highest number of "Votes Withheld" (15,022,059).
- Executive Compensation: The advisory vote on executive compensation was approved with 56,614,548 votes "For" and 3,666,608 votes "Against."
- Auditor Ratification: The appointment of McGladrey & Pullen, LLP was ratified with 70,918,692 votes "For" and 1,201,915 votes "Against."
- Broker Non-Votes: There were 11,763,053 broker non-votes recorded for the director elections and the executive compensation vote.