Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Alexandria Real Estate Equities, Inc., a Maryland corporation ("Alexandria" or
the "Company"), held its 2022 Annual Meeting of Stockholders (the "2022 Annual
Meeting") on May 17, 2022. At the 2022 Annual Meeting, Alexandria's stockholders
approved the amendment and restatement of the Alexandria Real Estate Equities,
Inc. Amended and Restated 1997 Stock Award and Incentive Plan (as amended and
restated, the "Amended 1997 Incentive Plan"). Alexandria's Board of Directors
approved the Amended 1997 Incentive Plan on March 24, 2022, subject to, and
effective upon, approval by Alexandria's stockholders at the 2022 Annual
Meeting. The primary purposes of the amendment and restatement are to:
(i)increase the aggregate number of shares of Alexandria's common stock
available for grant by 2,000,000 shares as of March 24, 2022;
(ii)extend the termination date to 10 years from the date of stockholder
approval of the Amended 1997 Incentive Plan; and
(iii)remove certain references to and provisions regarding Section 162(m) of the
Internal Revenue Code of 1986, as amended, that are no longer applicable
pursuant to the Tax Cuts and Jobs Act.
A more detailed summary of the changes adopted in the Amended 1997 Incentive
Plan is set forth in Alexandria's definitive proxy statement for the 2022 Annual
Meeting, filed with the Securities and Exchange Commission on April 18, 2022
(the "2022 Proxy Statement"). The foregoing summary and the summary contained in
the 2022 Proxy Statement do not purport to be complete and are qualified in
their entirety by reference to the full text of the Amended 1997 Incentive Plan,
which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated by reference into this Item 5.02.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On and effective May 18, 2022, Alexandria filed Articles of Amendment (the
"Articles of Amendment") to its charter with the State Department of Assessments
and Taxation of Maryland.
The Articles of Amendment (a) increase the number of shares of common stock, par
value $0.01 per share, that the
Company is authorized to issue from 200,000,000 shares to 400,000,000 shares and
(b) make a corresponding increase in the
aggregate par value of all the shares of stock having par value that the Company
is authorized to issue. The charter amendment was described in the text of
Proposal No. 4 in Alexandria's 2022 Proxy Statement. The charter amendment was
declared advisable by the Company's Board of Directors and approved by
Alexandria's stockholders at the 2022 Annual Meeting.
The foregoing summary of the Articles of Amendment and the summary contained in
the 2022 Proxy Statement do not purport to be completed and are qualified in
their entirety by reference to the Articles of Amendment filed as Exhibit 3.1
hereto.
Item 5.07 Submission of Matters to a Vote of Security Holders.
As noted above in Item 5.02, Alexandria held its 2022 Annual Meeting on
May 17, 2022. At the 2022 Annual Meeting, there were present in person or by
proxy 150,001,437 shares of Alexandria's common stock, representing stockholders
entitled to cast approximately 92% of the total outstanding eligible votes and
constituting a quorum. Set forth below are the voting results for the five
proposals considered and voted upon at the 2022 Annual Meeting, all of which
proposals were described in the 2022 Proxy Statement.
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1. Election of Directors
Alexandria's stockholders elected, by the votes indicated below, eight persons
to serve as directors of Alexandria until its 2023 Annual Meeting of
Stockholders and until their successors are duly elected and qualify. The
following table sets forth the results of the voting with respect to each
candidate:
Director For Against Abstained Broker Non-Vote (1)
Joel S. Marcus 125,338,256 21,752,527 81,474 2,829,180
Steven R. Hash 134,739,947 12,291,029 141,281 2,829,180
James P. Cain 95,840,488 50,690,202 641,567 2,829,180
Cynthia L. Feldmann 138,974,729 8,059,886 137,642 2,829,180
Maria C. Freire, Ph.D. 103,004,490 43,527,592 640,175 2,829,180
Jennifer Friel Goldstein 145,710,467 1,321,567 140,223 2,829,180
Richard H. Klein 134,043,161 12,987,475 141,621 2,829,180
Michael A. Woronoff 102,658,932 43,871,907 641,418 2,829,180
(1) Broker non-votes represent proxies that are uninstructed on a proposal and
submitted by brokers or other nominees who lack discretionary authority to vote
on the proposal absent instructions from the beneficial owner of shares of
stock.
2. Amendment and Restatement of the Amended 1997 Incentive Plan
Alexandria's stockholders voted to approve the amendment and restatement of the
Amended 1997 Incentive Plan, as disclosed in Alexandria's 2022 Proxy Statement.
138,966,477 votes were cast "for" the approval, 8,177,765 votes were cast
"against" the approval, and 28,015 votes abstained. Additionally, there were
2,829,180 broker non-votes for this proposal.
3. Non-binding Advisory Vote to Approve the Compensation of the Company's Named
Executive Officers
Alexandria's stockholders voted, on a non-binding, advisory basis, to approve
the compensation of its named executive officers, as disclosed in Alexandria's
2022 Proxy Statement. 137,461,722 votes were cast "for" the approval, 9,673,792
votes were cast "against" the approval, and 36,743 votes abstained.
Additionally, there were 2,829,180 broker non-votes for this proposal.
4. Amendment of Charter to Increase the Number of Authorized Shares of Common
Stock
Alexandria's stockholders voted to approve the amendment of charter to increase
the number of authorized share of common stock that the Company is authorized to
issue from 200,000,000 to 400,000,000 shares, as disclosed in Alexandria's 2022
Proxy Statement. 137,951,468 votes were cast "for" the approval, 11,987,391
votes were cast "against" the approval, and 20,555 votes abstained.
Additionally, there were 42,023 broker non-votes for this proposal.
5. Ratification of Appointment of Independent Public Registered Accountants
Alexandria's stockholders voted to ratify the appointment of Ernst & Young LLP
as Alexandria's independent registered public accountants for the fiscal year
ending December 31, 2022. 142,000,092 votes were cast "for" the ratification,
7,964,771 votes were cast "against" the ratification, and 36,574 votes
abstained. There were no broker non-votes for this proposal.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Exhibit Title
3.1 Articles of Amendment of the Company, dated May 18, 2022.
Alexandria Real Estate Equities, Inc. Amended and Restated 1997 Stock Award
10.1 and Incentive Plan
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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