Business Context and Reporting Period
This Form 8-K filing by iHeartMedia, Inc. reports the results of the Annual Meeting of Stockholders held on May 27, 2016. The filing details the voting outcomes for the election of directors and the ratification of the independent registered public accounting firm.
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 proposals were submitted to stockholders and approved:
- Proposal 1: Election of Directors. Twelve nominees were elected to serve until the next Annual Meeting. Voting was conducted with Class A and Class B common stock voting together as a single class for these nominees.
- Irving L. Azoff: 81,265,186 For; 464,039 Withheld.
- Richard J. Bressler: 81,147,995 For; 581,230 Withheld.
- James C. Carlisle: 81,133,477 For; 595,748 Withheld.
- John P. Connaughton: 81,250,350 For; 478,875 Withheld.
- Matthew J. Freeman: 81,133,759 For; 595,466 Withheld.
- Laura A. Grattan: 81,264,877 For; 464,348 Withheld.
- Blair E. Hendrix: 81,133,202 For; 596,023 Withheld.
- Ian K. Loring: 81,250,150 For; 479,075 Withheld.
- Robert W. Pittman: 81,262,059 For; 467,166 Withheld.
- Scott M. Sperling: 81,133,759 For; 595,466 Withheld.
- David D. Abrams: 21,727,580 For (Class A only); 479,375 Withheld.
- Jonathon S. Jacobson: 21,611,489 For (Class A only); 595,466 Withheld.
- Proposal 2: Ratification of Auditors. The selection of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2016, was ratified.
- Total Votes: 85,322,949 For; 25,403 Against; 235,249 Abstain.
- Proposal 3: Election of Class A Directors. Frederic F. Brace and Charles H. Cremens were elected by Class A common stockholders voting as a separate class.
- Frederic F. Brace: 80,256,529 For; 12,200 Withheld.
- Charles H. Cremens: 80,256,587 For; 12,142 Withheld.
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 composition of the Board of Directors following the election of the 12 general nominees and the 2 Class A specific nominees.
- Confirm the engagement of Ernst & Young LLP for the fiscal year ending December 31, 2016.
- Review the proxy statement filed on April 13, 2016, and supplemented on May 13, 2016, for detailed background on the nominees and proposals.