ALLETE, Inc. (NYSE:ALE) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
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Submission of Matters to a Vote of Security Holders.
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ALLETE, Inc. (the Company) held its 2017 annual meeting of
shareholders on May 9, 2017. Each matter voted upon at the
meeting and the final results of the voting on each such matter
are presented below. For a complete description of the matters
voted upon at the annual meeting, see the Companys definitive
proxy statement, dated March 23, 2017.
shareholders on May 9, 2017. Each matter voted upon at the
meeting and the final results of the voting on each such matter
are presented below. For a complete description of the matters
voted upon at the annual meeting, see the Companys definitive
proxy statement, dated March 23, 2017.
Item 1 – Election of ten (10) Directors.
All nominees for director were elected by the following votes.
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Director
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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Kathryn W. Dindo
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38,737,406.131
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1,270,122.806
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205,307.522
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4,584,892.000
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Sidney W. Emery, Jr.
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39,184,381.512
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827,313.463
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201,141.484
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4,584,892.000
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George G. Goldfarb
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39,645,438.956
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350,644.726
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216,752.777
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4,584,892.000
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James S. Haines, Jr.
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39,620,715.392
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383,016.231
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209,104.836
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4,584,892.000
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Alan R. Hodnik
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38,596,823.316
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1,428,924.551
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187,088.592
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4,584,892.000
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James J. Hoolihan
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38,914,333.975
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1,094,599.543
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203,902.941
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4,584,892.000
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Heidi E. Jimmerson
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38,785,770.439
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1,245,439.309
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181,626.711
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4,584,892.000
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Madeleine W. Ludlow
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38,773,328.940
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1,232,971.737
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206,535.782
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4,584,892.000
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Douglas C. Neve
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39,201,047.038
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795,709.848
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216,079.573
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4,584,892.000
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Leonard C. Rodman
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39,648,217.920
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349,975.432
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214,643.107
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4,584,892.000
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Item 2 – Approval of advisory resolution on executive
compensation.
compensation.
The advisory resolution on executive compensation was approved.
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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37,986,846.430
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1,647,110.922
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578,879.107
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4,584,892.000
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Item 3 – Selection of one year for the frequency of future
advisory votes on executive compensation.
advisory votes on executive compensation.
The preference of one year for the frequency of future advisory
votes on executive compensation was selected.
votes on executive compensation was selected.
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One Year
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Two Years
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Three Years
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Abstentions
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Broker Non-Votes
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31,274,348.331
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562,641.365
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7,945,733.409
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430,113.354
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4,584,892.000
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Item 4 – Ratification of the appointment of
PricewaterhouseCoopers LLP as ALLETEs independent registered
public accounting firm for 2017.
PricewaterhouseCoopers LLP as ALLETEs independent registered
public accounting firm for 2017.
The selection of PricewaterhouseCoopers LLP as the Companys
independent registered public accounting firm for 2017 was
ratified.
independent registered public accounting firm for 2017 was
ratified.
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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42,709,088.584
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1,876,814.182
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211,825.693
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Readers are cautioned that forward-looking statements should be
read in conjunction with ALLETEs disclosures under the heading:
Forward-Looking Statements located on page 2 of this Form 8-K.
read in conjunction with ALLETEs disclosures under the heading:
Forward-Looking Statements located on page 2 of this Form 8-K.
ALLETE Form 8-K dated May 11, 2017
Forward-Looking Statements
Statements in this report that are not statements of historical
facts are considered forward-looking and, accordingly, involve
risks and uncertainties that could cause actual results to
differ materially from those discussed. Although such
forward-looking statements have been made in good faith and are
based on reasonable assumptions, there can be no assurance that
the expected results will be achieved. Any statements that
express, or involve discussions as to, future expectations,
risks, beliefs, plans, objectives, assumptions, events,
uncertainties, financial performance, or growth strategies
(often, but not always, through the use of words or phrases
such as anticipates, believes, estimates, expects, intends,
plans, projects, likely, will continue, could, may, potential,
target, outlook or words of similar meaning) are not statements
of historical facts and may be forward-looking.
facts are considered forward-looking and, accordingly, involve
risks and uncertainties that could cause actual results to
differ materially from those discussed. Although such
forward-looking statements have been made in good faith and are
based on reasonable assumptions, there can be no assurance that
the expected results will be achieved. Any statements that
express, or involve discussions as to, future expectations,
risks, beliefs, plans, objectives, assumptions, events,
uncertainties, financial performance, or growth strategies
(often, but not always, through the use of words or phrases
such as anticipates, believes, estimates, expects, intends,
plans, projects, likely, will continue, could, may, potential,
target, outlook or words of similar meaning) are not statements
of historical facts and may be forward-looking.
In connection with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, we are providing this
cautionary statement to identify important factors that could
cause our actual results to differ materially from those
indicated in forward-looking statements made by or on behalf of
ALLETE in this Form 8-K, in presentations, on our website, in
response to questions or otherwise. These statements are
qualified in their entirety by reference to, and are
accompanied by, the following important factors, in addition to
any assumptions and other factors referred to specifically in
connection with such forward-looking statements that could
cause our actual results to differ materially from those
indicated in the forward-looking statements:
Securities Litigation Reform Act of 1995, we are providing this
cautionary statement to identify important factors that could
cause our actual results to differ materially from those
indicated in forward-looking statements made by or on behalf of
ALLETE in this Form 8-K, in presentations, on our website, in
response to questions or otherwise. These statements are
qualified in their entirety by reference to, and are
accompanied by, the following important factors, in addition to
any assumptions and other factors referred to specifically in
connection with such forward-looking statements that could
cause our actual results to differ materially from those
indicated in the forward-looking statements:
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our ability to successfully implement our strategic
objectives; |
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global and domestic economic conditions affecting us or
our customers; |
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changes in and compliance with laws and regulations;
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changes in tax rates or policies or in rates of
inflation; |
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the outcome of legal and administrative proceedings
(whether civil or criminal) and settlements; |
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weather conditions, natural disasters and pandemic
diseases; |
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our ability to access capital markets and bank financing;
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changes in interest rates and the performance of the
financial markets; |
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project delays or changes in project costs;
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changes in operating expenses and capital expenditures
and our ability to raise revenues from our customers in regulated rates or sales price increases at our Energy Infrastructure and Related Services businesses; |
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the impacts of commodity prices on ALLETE and our
customers; |
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our ability to attract and retain qualified, skilled and
experienced personnel; |
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effects of emerging technology;
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war, acts of terrorism and cyber attacks;
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our ability to manage expansion and integrate
acquisitions; |
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population growth rates and demographic patterns;
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wholesale power market conditions;
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federal and state regulatory and legislative actions that
impact regulated utility economics, including our allowed rates of return, capital structure, ability to secure financing, industry and rate structure, acquisition and disposal of assets and facilities, operation and construction of plant facilities and utility infrastructure, recovery of purchased power, capital investments and other expenses, including present or prospective environmental matters; |
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effects of competition, including competition for retail
and wholesale customers; |
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effects of restructuring initiatives in the electric
industry; |
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the impacts on our Regulated Operations segment of
climate change and future regulation to restrict the emissions of greenhouse gases; |
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effects of increased deployment of distributed low-carbon
electricity generation resources; |
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the impacts of laws and regulations related to renewable
and distributed generation; |
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pricing, availability and transportation of fuel and
other commodities and the ability to recover the costs of such commodities; |
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our current and potential industrial and municipal
customers ability to execute announced expansion plans; |
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real estate market conditions where our legacy Florida
real estate investment is located may not improve; |
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the success of efforts to realize value from, invest in,
and develop new opportunities in, our Energy Infrastructure and Related Services businesses; and |
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factors affecting our Energy Infrastructure and Related
Services businesses, including fluctuations in the volume of customer orders, unanticipated cost increases, changes in legislation and regulations impacting the industries in which the customers served operate, the effects of weather, creditworthiness of customers, ability to obtain materials required to perform services, and changing market conditions. |
ALLETE Form 8-K dated May 11, 2017
Forward-Looking Statements (Continued)
Additional disclosures regarding factors that could cause our
results or performance to differ from those anticipated by
this report are discussed in Part 1, Item 1A, under the
heading Risk Factors beginning on page 25 of ALLETEs Annual
Report on Form 10-K for the year ended December 31, 2016. Any
forward-looking statement speaks only as of the date on which
such statement is made, and we undertake no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which that statement is made
or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for
management to predict all of these factors, nor can it assess
the impact of each of these factors on the businesses of
ALLETE or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from
those contained in any forward-looking statement. Readers are
urged to carefully review and consider the various
disclosures made by ALLETE in this Current Report on Form 8-K
and in other reports filed with the SEC that attempt to
identify the risks and uncertainties that may affect ALLETEs
business.
results or performance to differ from those anticipated by
this report are discussed in Part 1, Item 1A, under the
heading Risk Factors beginning on page 25 of ALLETEs Annual
Report on Form 10-K for the year ended December 31, 2016. Any
forward-looking statement speaks only as of the date on which
such statement is made, and we undertake no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which that statement is made
or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for
management to predict all of these factors, nor can it assess
the impact of each of these factors on the businesses of
ALLETE or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from
those contained in any forward-looking statement. Readers are
urged to carefully review and consider the various
disclosures made by ALLETE in this Current Report on Form 8-K
and in other reports filed with the SEC that attempt to
identify the risks and uncertainties that may affect ALLETEs
business.
ALLETE Form 8-K dated May 11, 2017
About ALLETE, Inc. (NYSE:ALE)
ALLETE, Inc. is an energy company. The Company operates through three segments. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets. Its regulated utility operations include retail and wholesale activities. The ALLETE Clean Energy segment focuses on developing, acquiring and operating clean and renewable energy projects. The ALLETE Clean Energy segment owns and operates in approximately four states with over 530 megawatt (MW) nameplate capacity wind energy generation. Its U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solutions. Its U.S. Water Services segment serves the food and beverage, industrial, power generation, and midstream oil and gas industries. ALLETE, Inc. (NYSE:ALE) Recent Trading Information
ALLETE, Inc. (NYSE:ALE) closed its last trading session down -0.01 at 69.39 with 176,932 shares trading hands.
