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Walmart announces preliminary 2010 annual shareholders meeting voting results
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PR Newswire | 08 Jun, 2010
BENTONVILLE (Ark.): Wal-Mart Stores, Inc. today announced preliminary shareholder voting results for its Annual Meeting of Shareholders held June 4. Approximately 89 percent of outstanding shares were represented at the meeting.
The company reported that shareholders approved the election of each of Walmart's 15 director nominees. Each director received affirmative votes from approximately 87.2 percent or more of the shares voted. Shareholders also ratified Ernst & Young LLP as Walmart's independent accountants, with affirmative votes from approximately 99.4 percent of the shares that were represented at the meeting and entitled to vote.
Two additional company proposals, which the Board of Directors had recommended for shareholder approval, received affirmative votes from a majority of the total shares that were represented at the meeting and entitled to vote and, accordingly, they were approved. A preliminary report on the approximate percentages of the shares represented at the meeting that were voted in favor of each of these company proposals follows:
* Proposal 3 - Approval of the Wal-Mart Stores, Inc. Stock Incentive Plan of 2010: approximately 86.8 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 4 - Approval of the ASDA Limited Sharesave Plan 2000, as amended: approximately 94.9 percent of the shares that were represented at the meeting and entitled to vote.
The six shareholder proposals, which the Board of Directors recommended against, failed to receive affirmative votes from a majority of the total shares that were represented at the meeting and entitled to vote and, accordingly, they were defeated. A preliminary report on the approximate percentages of the shares represented at the meeting that were voted in favor of each shareholder proposal follows:
* Proposal 5 – Gender identity non-discrimination policy: approximately 13.5 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 6 – Advisory vote on executive compensation: approximately 19.6 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 7 – Political contributions report: approximately 13.5 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 8 – Special shareowner meetings: approximately 21.6 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 9 – Poultry slaughter: approximately 1.3 percent of the shares that were represented at the meeting and entitled to vote.
* Proposal 10 – Lobbying priorities report: approximately 2.1 percent of the shares that were represented at the meeting and entitled to vote.
The official results and exact voting percentages for each of these proposals will be disclosed in a report to be filed later this week with the Securities and Exchange Commission.
About Walmart
Wal-Mart Stores, Inc., (NYSE: WMT) serves customers and members more than 200 million times per week at more than 8,400 retail units under 55 different banners in 15 countries. With fiscal year 2010 sales of $405 billion, Walmart employs more than two million associates worldwide. A leader in sustainability, corporate philanthropy and employment opportunity, Walmart ranked first among retailers in Fortune magazine's 2010 Most Admired Companies survey. Additional information about Walmart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.
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