Buckeye Partners, L.P. (NYSE:BPL) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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Buckeye Partners, L.P. (NYSE:BPL) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.

The annual meeting of the unitholders of Buckeye Partners, L.P. (the “Partnership”) was held on June5, 2018, at which the following matters were voted upon by the Partnership’s unitholders: (i)the election of three ClassII directors to serve on the board of directors of Buckeye GP LLC, the General Partner of the Partnership, until the Partnership’s 2021 annual meeting of unitholders, (ii)the approval of an amendment of Buckeye Partners, L.P.’s partnership agreement, as described in the Partnership’s definitive proxy statement, (iii)the ratification of the selection of Deloitte& Touche LLP as the Partnership’s independent registered public accounting firm for the year 2018, and (iv)the approval, in an advisory vote, of the compensation of the Partnership’s named executive officers, as described in the Partnership’s definitive proxy statement. As of the record date for the annual meeting, there were 146,931,940 outstanding LP Units and 6,220,658 ClassC Units that were entitled to vote at the annual meeting.

All nominees for director were elected, with voting as detailed below:

For

Withheld

BrokerNon-Votes

1. Pieter Bakker

98,202,218

1,724,052

42,093,185

2. Barbara M. Baumann

98,282,858

1,643,413

42,093,185

3. Mark C. McKinley

98,230,304

1,695,967

42,093,185

The amendment of Buckeye Partners, L.P.’s partnership agreement was not approved because the amendment did not receive the affirmative vote of the holders of two-thirds of the Partnership’s outstanding limited partnership units as of the record date, with voting as detailed below:

For

Against

Abstain

BrokerNon-Votes

63,389,653

36,169,950

366,667

42,093,185

The selection of Deloitte& Touche LLP as the Partnership’s independent registered public accounting firm for the year 2018 was ratified, with voting as detailed below:

For

Against

Abstain

BrokerNon-Votes

138,689,451

2,795,696

534,308

The advisory vote on the compensation of the Partnership’s named executive officers resulted in an approval of executive compensation, with voting as detailed below:

For

Against

Abstain

BrokerNon-Votes

77,806,794

21,121,664

997,813

42,093,185


About Buckeye Partners, L.P. (NYSE:BPL)

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. It is also an independent terminalling and storage operator in the United States in terms of capacity available for service. The Company’s terminal network comprises approximately 120 liquid petroleum products terminals with aggregate storage capacity of over 110 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast and Gulf Coast regions of the United States and in the Caribbean. The Company’s marine terminal in The Bahamas, Bahamas Oil Refining Company International Limited (BORCO) provides an array of logistics and blending services for petroleum products.