Waters Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Waters Corporation on May 10, 2011. The filing reports on corporate governance events occurring on the same date, specifically the appointment of a new Principal Accounting Officer and the final results of the annual meeting of shareholders.
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 personnel matters rather than financial performance.
Material Changes and Corporate Actions
- Appointment of Principal Accounting Officer: The Board of Directors appointed William J. Curry, 55, as the Company's Principal Accounting Officer. Mr. Curry, who joined the company in 1999, was previously the Vice President, Corporate Controller.
- Annual Meeting Results: Shareholders voted on four proposals during the annual meeting held on May 10, 2011.
Shareholder Voting Outcomes
| Proposal | Outcome | Key Vote Counts |
|---|---|---|
| 1. Election of Directors | All 9 nominees elected | For votes ranged from ~73.8M to ~75.4M; Against votes ranged from ~1.1M to ~2.7M. |
| 2. Ratification of Auditor | Ratified (PricewaterhouseCoopers) | For: 79,393,856; Against: 1,094,390; Abstentions: 33,206. |
| 3. Say on Pay (Compensation) | Approved | For: 73,049,623; Against: 3,467,702; Abstentions: 98,548. |
| 4. Frequency of Say on Pay Vote | Preference for Annual (1 Year) | 1 Year: 54,849,907; 2 Years: 921,274; 3 Years: 20,787,544. |
Risks, Contingencies, and Unusual Items
The filing does not disclose any new risks, contingencies, or unusual items. The appointment of Mr. Curry is a standard succession event, noting his long tenure with the company since 1999.
Key Facts for Investor Verification
- Verify the effective date of William J. Curry's new role as Principal Accounting Officer.
- Confirm the total number of shares outstanding to contextualize the voting percentages.
- Note that while the "Say on Pay" proposal passed, a significant portion of shareholders (approx. 20.8 million votes) preferred a 3-year frequency for future votes rather than the annual frequency selected by the majority.
- Review the company's next quarterly or annual report for financial metrics, as this 8-K contains no financial data.