Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 25, 2021 and effective as of such date, the Board of Directors of Howmet
Aerospace Inc. (the "Company" or "Howmet Aerospace") appointed Barbara L. Shultz
as Vice President and Controller, replacing Paul Myron. In this capacity, Ms.
Shultz will serve as the Company's principal accounting officer. Mr. Myron has
been appointed Vice President, Corporate Finance, and will be responsible for
Financial Planning and Analysis, Shared Services and Financial Strategy.
Ms. Shultz has worked at the Company since 2005 (the Company was previously
known as Arconic Inc. and Alcoa Inc. prior to the Company's spin-offs in 2020
and 2016, respectively). Ms. Shultz was Assistant Controller since April 2020,
following the Company's separation from Arconic Corporation. Prior to this, she
was Director of Compliance from February 2019 to April 2020. From July 2015
through February 2019, she was the Director of Compliance of Arconic Engineered
Structures where she integrated financial and internal control matters related
to the acquisition of RTI International Metals Inc. She was the Director of
Finance of Alcoa Wheel and Transportation Products from 2012 to 2015. Ms. Shultz
joined the Company in 2005 as a manager of financial transactions and has held
several positions of increasing responsibility where she addressed complex
accounting issues and implemented U.S. GAAP policies worldwide, and coordinated
the financial aspects of acquisitions and divestitures. Prior to joining the
Company, she worked in various roles in the assurance and advisory practice at
PricewaterhouseCoopers LLP for ten years.
Ms. Shultz will receive salary, bonus and equity awards, and will participate in
the Company's previously disclosed or filed benefit and compensation plans, at
levels consistent with her seniority and scope of responsibility, including a
$125,000 annual equity award composed of 50% performance-based restricted share
units (RSUs) and 50% time-vested RSUs. In addition, the Company will enter into
an indemnification agreement with Ms. Shultz, which the Company has entered into
with each of its officers to supplement the indemnification coverage provided by
the Company's Certificate of Incorporation and Bylaws and the Delaware General
Corporation Law (see the Form of Indemnification Agreement between the Company
and individual directors or officers, incorporated by reference to exhibit 10.1
to the Form 8-K filed by the Company with the SEC on January 25, 2018).
Item 5.07. Submission of Matters to a Vote of Security Holders
The 2021 annual meeting of shareholders (the "Annual Meeting") of Howmet
Aerospace was held on May 25, 2021. Set forth below are the results of each of
the matters submitted to a vote of the shareholders at the Annual Meeting. As of
the close of business on March 29, 2021, the record date of the Annual Meeting,
there were 434,076,077 shares of common stock outstanding and entitled to vote.
Of this amount, 369,309,484 shares of common stock were represented in person or
by proxy at the Annual Meeting.
Item 1. The 11 director nominees named in the 2021 Proxy Statement for election
to the Company's Board of Directors were elected, each for a one-year term
expiring on the date of the Company's 2022 annual meeting of shareholders, based
upon the following votes:
Nominees For Against Abstain Broker Non-Votes
James F. Albaugh 332,290,184 7,871,464 349,243 28,798,593
Amy E. Alving 337,364,893 2,778,730 367,268 28,798,593
Sharon R. Barner 339,164,768 985,044 361,079 28,798,593
Joseph S. Cantie 297,190,506 42,937,364 383,021 28,798,593
Robert F. Leduc 271,831,208 68,300,014 379,669 28,798,593
David J. Miller 339,099,909 1,027,615 383,367 28,798,593
Jody G. Miller 337,779,211 2,359,682 371,998 28,798,593
Tolga I. Oal 338,876,244 1,260,293 374,354 28,798,593
Nicole W. Piasecki 297,237,123 42,900,897 372,871 28,798,593
John C. Plant 329,740,234 10,427,728 342,929 28,798,593
Ulrich R. Schmidt 338,472,111 1,662,345 376,435 28,798,593
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Item 2. The proposal to ratify the appointment of PricewaterhouseCoopers LLP to
serve as Howmet Aerospace's independent registered public accounting firm for
2021 was approved, based upon the following votes:
For Against Abstain Broker Non-Votes
359,931,492 8,786,940 591,052 0
Item 3. The advisory vote on executive compensation was not approved, based upon
the following votes:
For Against Abstain Broker Non-Votes
151,558,542 188,113,970 838,379 28,798,593
Item 4. The shareholder proposal regarding an independent Board Chairman was not
approved, based upon the following votes:
For Against Abstain Broker Non-Votes
97,973,705 241,060,594 1,476,592 28,798,593
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