ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
Approval of the
At the Annual Meeting of Shareholders of
Pursuant to and subject to the terms and conditions of the Plan, the Company may
grant stock options, stock appreciation rights and other stock-based awards,
including but not limited to restricted stock units and performance-based
awards, to the Company's non-employee Board members and to key employees and
consultants of the Company and certain of its subsidiaries. No awards may be
granted under the Plan after
The Plan replaces the Prior Plan. As of
A brief summary of the material terms of the Plan was included as part of
Proposal 4 on pages 52-61 in the Company's definitive proxy statement filed with
the
Employment Agreement with Chief Executive Officer
On
The initial term of the Employment Agreement extends until
The Employment Agreement provides for various customary business protection provisions, including non-competition, non-solicitation, non-interference, non-disparagement, and confidentiality and non-disclosure provisions, facilitates the implementation of the Company's clawback policy, and provides:
· for a minimum annual base salary of
and may be increased from time to time in the sole discretion of the Board or its Compensation Committee.
· that incentive compensation shall be determined and paid under the Company's
annual bonus program for senior executive officers, as it may be amended from time to time.
· that during
entitled to reasonable non-exclusive use of the Company's plane or of a chartered aircraft at the Company's expense for his personal travel to and from, on the one hand,Boca Raton, Florida orWilmington, North Carolina , and on the other hand,Nashville, Tennessee or such other point of origin or destination where he is required to be located for Company-related business purposes. Such personal travel may include family members traveling with Mr. Vasos and shall not exceed two round trips per calendar month (exclusive of any "deadhead" time) unless prior approval is granted by the Compensation Committee. Any income imputed toMr. Vasos as a result of such personal travel shall be calculated in accordance with applicable Treasury Regulations as in effect from time to time, andMr. Vasos shall be responsible for any tax liability he incurs as a result. He also shall be entitled to receive such other executive perquisites, fringe and other benefits as are provided generally to senior executive officers of the Company under any of the Company's plans and/or programs in effect from time to time.
· that
eligible to participate in those various Company welfare benefit plans,
practices and policies in place during the term of the Employment Agreement to
the extent allowed under and in accordance with the terms of those plans, as
well as in any other benefit plans the Company offers to other senior executive
officers of the Company or other employees from time to time during the term of
the Employment Agreement (excluding plans applicable solely to certain officers
of the Company in accordance with the express terms of such plans).
In addition, pursuant to the Employment Agreement, and subject to limited
conditions set forth therein, if
· continued base salary payments for 24 months (subject to timing and form of . . .
ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL
YEAR.
At the Annual Meeting, the Company's shareholders approved a proposal to amend
(the "Amendment") the Company's Charter to provide that special meetings of
shareholders may be called upon written request from holders of record or
beneficial owners (a) representing at least twenty-five percent (25%) of the
voting power of the Company's shares entitled to vote on the matter or matters
to be brought before the proposed special meeting and (b) that have complied in
full with the requirements set forth in the Company's Bylaws, as amended from
time to time. The Board previously approved the Amendment and the restatement of
the Company's Charter to reflect the Amendment (as so amended and restated, the
"Amended and Restated Charter"), subject to shareholder approval of the
Amendment. The Company filed the Amended and Restated Charter with the
In addition, effective
· implement the ability of holders of 25% or more of the Company's stock to
request a special meeting and set forth the conditions and requirements for such shareholders to request such a special meeting, as described in more detail in the Proxy Statement, as well as additional conforming amendments to existing provisions necessitated by the addition of the special meeting right provisions;
· provide for a forum selection provision which, unless the Company consents in
writing to the selection of an alternative forum, requires (a) any derivative lawsuits, actions asserting a claim of breach of fiduciary duty, actions asserting a claim arising pursuant to any provision of the Tennessee Business Corporation Act (the "TBCA"), the Amended and Restated Charter or the Amended and Restated Bylaws, or an action asserting a claim governed by the internal affairs doctrine, to be exclusively brought in a state or federal court located withinTennessee and (b) theU.S. federal district courts to be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended; 3
· update various provisions to align with the TBCA pertaining to: required
officers, removing the outdated requirements to appoint a President, a Vice President and a Treasurer and that the President and Secretary positions be held by different persons; meetings held by means of remote communication, recognizing that meetings held by means of remote communication need not be held in a physical location and that the notice of meeting which is held by means of remote communication shall set forth the means of remote communication by which shareholders and proxy holders may be deemed to be present in person and vote at such meeting; and the method of giving notice of meetings, specifically allowing notice of meetings to be given in any manner allowed under the TBCA;
· acknowledge that the provision pertaining to removal of directors is subject to
the provisions contained in the Amended and Restated Charter; and
· make certain other updates, clarifications and ministerial and conforming
changes.
The complete text of the Amended and Restated Charter and the Amended and Restated Bylaws, as well as marked copies of each such document illustrating the changes made thereto, are attached hereto as Exhibits 3.1, 3.1.1, 3.2 and 3.2.1. The foregoing descriptions are summaries only, do not purport to be complete, and are qualified in their entirety by reference to the complete text of the Amended and Restated Charter and the Amended and Restated Bylaws which are attached as Exhibits 3.1 and 3.2 and incorporated herein by reference.
ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The Annual Meeting was held on
The following individuals were elected to serve as directors of the Company, each of whom will hold office until the Annual Meeting of the Company's Shareholders to be held in 2022 and until his or her successor is duly elected and qualified. Votes were cast as follows:
Votes Votes Broker Name For Against Votes Abstaining Non-Votes Warren F. Bryant 188,507,285 8,583,849 143,149 14,389,639 Michael M. Calbert 186,195,294 10,919,128 119,861 14,389,639 Patricia D. Fili-Krushel 190,298,513 6,824,550 111,220 14,389,639 Timothy I. McGuire 195,322,317 1,742,580 169,386 14,389,639 William C. Rhodes, III 188,875,326 8,218,855 140,102 14,389,639 Debra A. Sandler 190,316,256 6,673,900 244,127 14,389,639 Ralph E. Santana 193,034,609 4,054,778 144,896 14,389,639 Todd J. Vasos 195,015,064 2,103,625 115,594 14,389,639
The resolution regarding the compensation of the Company's named executive officers as disclosed in the Proxy Statement was approved on an advisory (non-binding) basis. Votes were cast as follows:
Votes Votes Votes Broker For Against Abstaining Non-Votes 175,577,132 19,272,495 2,384,656 14,389,639 4 The appointment ofErnst & Young LLP as the Company's independent registered public accounting firm for fiscal year 2021 was ratified. Votes were cast as follows: Votes Votes Votes Broker For Against Abstaining Non-Votes 200,571,255 10,926,106 126,561 0 TheDollar General Corporation 2021 Stock Incentive Plan was approved. Votes were cast as follows: Votes Votes Votes Broker For Against Abstaining Non-Votes 169,903,866 24,966,873 2,363,544 14,389,639
An amendment to the Company's amended and restated charter to allow shareholders holding 25% or more of the Company's common stock to request special meetings of shareholders was approved. Votes were cast as follows:
Votes Votes Votes Broker For Against Abstaining Non-Votes 182,315,499 2,140,259 12,778,525 14,389,639
A shareholder proposal regarding shareholders' ability to call special meetings of shareholders was approved. Votes were cast as follows:
Votes Votes Votes Broker For Against Abstaining Non-Votes 104,779,003 92,213,128 242,152 14,389,639
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired. N/A
(b) Pro forma financial information. N/A
(c) Shell company transactions. N/A
(d) Exhibits. See Exhibit Index to this report.
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