Knowles Corp 8-K Summary: May 2, 2017
Business Context and Reporting Period
This Form 8-K reports on the results of the 2017 Annual Meeting of Stockholders held by Knowles Corporation. The report date is May 2, 2017, with the document signed on May 5, 2017.
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 outcomes.
Material Changes and Voting Results
Stockholders voted on three proposals at the Annual Meeting:
- Proposal 1 (Election of Directors): Three Class I directors were elected for a three-year term expiring in 2020.
- Jeffrey S. Niew: 78,641,441 For; 366,473 Against; 32,634 Abstain.
- Keith L. Barnes: 75,973,603 For; 3,033,254 Against; 33,691 Abstain.
- Richard K. Loochridge: 76,813,032 For; 2,021,829 Against; 205,687 Abstain.
- Proposal 2 (Ratification of Auditors): Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2017.
- Results: 83,613,893 For; 307,275 Against; 24,271 Abstain.
- Proposal 3 (Executive Compensation): A nonbinding advisory vote to approve named executive officer compensation.
- Results: 52,577,661 For; 26,076,456 Against; 386,431 Abstain.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the specific term expiration dates for the newly elected Class I directors (stated as 2020).
- Note the significant number of "Against" votes (approx. 26 million) on the executive compensation advisory vote compared to the "For" votes.
- Confirm the total number of broker non-votes (4,904,891) which did not impact the outcome of the director elections or the compensation vote.