Business Context and Reporting Period
This Form 8-K filing by DNOW Inc. (formerly NOW Inc.) reports on the Annual Meeting of Stockholders held on May 23, 2018. The report was filed on May 25, 2018.
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
Stockholders approved three key matters at the Annual Meeting:
- Election of Directors: Three directors (Terry Bonno, Galen Cobb, and James Crandell) were re-elected to three-year terms expiring in 2021.
- Auditor Ratification: Ernst & Young LLP was ratified as the independent auditor for 2018.
- Executive Compensation: The compensation of named executive officers was approved on an advisory basis.
| Matter | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Election of Directors (Avg.) | ~90.7M | ~1.0M | ~75K | 8,259,194 |
| Ratification of Auditors | 99,454,326 | 171,877 | 429,894 | 0 |
| Executive Compensation | 54,030,529 | 37,011,615 | 754,759 | 8,259,194 |
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 specific vote counts for the executive compensation proposal, which received significant opposition (approx. 40.6% against).
- Confirm the tenure of the newly re-elected directors (terms expiring in 2021).
- Review the full proxy statement for details on the specific compensation packages approved.