Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors (the "Board") of
As described under Item 5.07 of this Current Report on Form 8-K (this "Current
Report"), the Company's stockholders approved the Proposed Plan at the Annual
Meeting. A description of the material terms of the Proposal Plan is set forth
under the heading "Proposal 2 Approval of Amendment and Restatement of Michaels
Second Amended and Restated 2014 Omnibus Long-Term Incentive Plan" in the
Definitive Proxy Statement on Schedule 14A filed with the
On
Item 5.07. Submission of Matters to a Vote of Security Holders.
The Annual Meeting of the Company was held on
1. Election of Directors
Proposal one was the election of ten nominees to serve as directors of the Company each for a term of one year. The results of the vote were as follows:
Nominee Votes For Votes Withheld Broker Non-Votes Joshua Bekenstein 106,618,018 18,340,086 15,716,981 Ashley Buchanan 123,394,296 1,563,808 15,716,981 Mark S. Cosby 122,864,685 2,093,419 15,716,981 Ryan Cotton 123,065,809 1,892,295 15,716,981 Monte E. Ford 123,627,620 1,330,484 15,716,981 Karen Kaplan 123,321,916 1,636,188 15,716,981 Matthew S. Levin 123,042,004 1,916,100 15,716,981 John J. Mahoney 122,005,236 2,952,868 15,716,981 James A. Quella 123,035,919 1,922,185 15,716,981 Beryl B. Raff 123,379,947 1,578,157 15,716,981
Pursuant to the foregoing votes, the ten nominees listed above were elected to serve on the Company's Board of Directors. There were no additional director nominations brought before the Annual Meeting.
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2. Approval of the Amendment and Restatement of Michaels 2014 Omnibus Long-Term
Incentive Plan
Proposal two was the approval of the Proposed Plan, which provides for an increase of the shares of Common Stock available for award under the Proposed Plan and the removal of certain technical changes to provisions that are no longer applicable following the enactment of the Tax Cuts and Jobs Act of 2017.
The results of the vote were as follows:
c
For Against Abstain Broker Non-Votes 120,086,144 4,708,143 163,817 15,716,981
Pursuant to the foregoing vote, the Proposed Plan was approved.
3. Ratification of the Independent Registered Public Accountants
Proposal three was the ratification of the appointment of
c
For Against Abstain Broker Non-Votes 138,427,339 1,923,884 323,862
0 c
Pursuant to the foregoing vote, the ratification of
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Description 10.1The Michaels Companies, Inc. Third Amended and Restated 2014 Omnibus Long-Term Incentive Plan. 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 3
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