Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At a meeting held on
In addition, the Committee adopted certain other amendments to the Executive Severance Plan and the Change in Control Severance Plan to clarify that an executive receiving severance (including a target annual cash incentive) will not also be eligible for an annual cash incentive on an involuntary termination, as well as that severance payable to an executive may be reduced by debts owed by the executive to the Company and, in the case of the Executive Severance Plan, to provide that severance may be subject to compliance with post-termination restrictive covenants. Further, the Change in Control Severance Plan was amended to eliminate mandatory retirement age provisions that are not applicable.
The amendments to the Plans include other clarifying, conforming and administrative changes. The foregoing description of the principal amendments to the Plans is qualified in its entirety by reference to the full text of the Plans, which are filed herewith as Exhibits 10.1 through 10.4 and are incorporated herein by reference. The updated forms of award agreements to be used for restricted stock units (both time-based and performance-based) and special retention awards to employees and officers under the Stock Incentive Plan are also filed herewith as Exhibit 10.5 and Exhibit 10.6 and are incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On
At the Annual Meeting, the Company's shareholders voted a total of 94,648,034 shares, representing more than 89% of the Company's outstanding voting stock. Set forth below are the final voting results for the matters submitted to a vote of shareholders at the Annual Meeting.
Proposal 1 - Election of Directors
At the Annual Meeting, the Company's shareholders elected the persons listed below as directors for a one-year term expiring at the 2023 annual meeting or until their respective successors are duly elected and qualified.
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Votes For Votes Against Abstentions Broker Non-Votes Fredrick A. Henderson 84,946,125 1,554,023 769,796 7,378,090 William F. Austen 83,579,685 2,913,209 777,050 7,378,090 Christopher L. Ayers 85,677,701 557,526 1,034,717 7,378,090 Margaret S. Billson 83,935,311 2,562,951 771,682 7,378,090 Jacques Croisetiere 86,068,339 420,760 780,845 7,378,090 Elmer L. Doty 85,966,736 523,925 779,283 7,378,090 Carol S. Eicher 84,979,319 1,516,590 774,035 7,378,090 Timothy D. Myers 86,116,047 385,832 768,065 7,378,090 E. Stanley O'Neal 82,060,801 3,969,956 1,239,187 7,378,090 Jeffrey Stafeil 86,104,146 382,061 783,737 7,378,090
Proposal 2 - Advisory Vote on Executive Compensation
At the Annual Meeting, the Company's shareholders approved, in a non-binding advisory vote, the compensation paid to the Company's named executive officers as disclosed in the Proxy Statement.
Votes For Votes Against Abstentions Broker Non-Votes 69,610,067 17,440,263 219,614 7,378,090
Proposal 3 - Ratification of Auditors
At the Annual Meeting, the Company's shareholders ratified the appointment of
Votes For Votes Against Abstentions Broker Non-Votes 93,406,800 467,266 773,968
0
Proposal 4 - Shareholder Proposal
At the Annual Meeting, the Company's shareholders did not approve the shareholder proposal included in the Proxy Statement requesting amendment of the Company's governing documents to lower the stock ownership threshold and eliminate the holding period to call a special meeting of shareholders.
Votes For Votes Against Abstentions Broker Non-Votes 15,422,162 71,584,907 262,875 7,378,090
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description of Exhibit 10.1 Arconic Corporation Amended and Restated Executive Severance Plan 10.2 Arconic Corporation Amended and Restated Change in Control Severance Plan 10.3Amended and Restated Arconic Corporation 2020 Annual Cash Incentive Plan 10.4 Arconic Corporation Amended and Restated 2020 Stock Incentive Plan 10.5 Form of Restricted Share Unit Award Agreement pursuant to the Arconic Corporation Amended and Restated 2020 Stock Incentive Plan 10.6 Form of Special Retention Award Agreement pursuant to the Arconic Corporation Amended and Restated 2020 Stock Incentive Plan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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