Business Context and Reporting Period
This Form 8-K reports on the results of the Annual Meeting of Shareholders held by Matador Resources Company on June 1, 2017. The filing details the voting outcomes for four specific proposals submitted to security holders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document focuses exclusively on corporate governance and shareholder voting results rather than financial performance.
Material Changes and Voting Results
Shareholders voted on four key matters. The record date for the meeting was April 7, 2017, with 100,142,297 shares outstanding. A total of 92,670,673 shares were represented at the meeting.
- Proposal 1 (Election of Directors): All six nominees were elected. Joseph Wm. Foran and Reynald A. Baribault were elected as Class III directors; R. Gaines Baty as a Class II director; and William M. Byerley, Julia P. Forrester, and Kenneth L. Stewart as Class I directors.
- Proposal 2 (Increase Authorized Common Stock): Shareholders approved the amendment to the Amended and Restated Certificate of Formation to increase the amount of authorized common stock. The amendment became effective on June 2, 2017, upon filing with the Texas Secretary of State.
- Proposal 3 (Advisory Vote on Executive Compensation): Shareholders approved the non-binding advisory resolution regarding executive compensation.
- Proposal 4 (Ratification of Auditors): Shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2017.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies were disclosed in this report, other than the standard procedural note regarding broker non-votes on the stock authorization amendment.
Important Facts for Investors to Verify
- Confirmation that the amendment to increase authorized common stock was officially filed and accepted by the State of Texas.
- The specific terms of the newly elected directors' tenure (Class I, II, and III expiration dates).
- The level of shareholder support for executive compensation, noting the number of votes cast against the advisory proposal.
- Verification of the total number of shares represented versus outstanding to assess participation rates.