EASTMAN CHEMICAL COMPANY (NYSE:EMN) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.Among the items of business acted upon by stockholders at the Annual Meetingand reported on the May 4, 2017 Form 8-K were the advisory vote on executive compensation as disclosed in the Annual Meeting proxy statement (the “say-on-pay” vote) and the advisory vote on the frequency of future say-on-pay votes.
Item 5.07(d) — Submission of Matters to a Vote of Security Holders (Frequency of Future Say-on-Pay Votes)
As previously reported, a plurality (the largest number) of votes cast in the advisory vote on the frequency of future say-on-pay votes were for such vote to continue to occur “every year”, supporting the Board of Directors’ recommendation that an advisory say-on-pay stockholder vote continue to be included in the Company’s proxy statement for, and voted on by stockholders at, each annual meeting of stockholders, as follows:
|
Abstentions and Broker Non-Votes |
Votes For (% of voted shares); Abstentions and Broker Non-Votes (% of outstanding shares) |
|
Every Year |
97,732,931 (87.52%) |
|
Every Other Year |
255,619 (0.23%) |
|
Every Three Years |
13,677,844 (12.25%) |
|
Abstentions |
266,228 (0.18%) |
|
Broker Non-Votes |
11,325,891 (7.77%) |
In light of this advisory vote and in accordance with the Board of Directors' previous recommendation, the Board has determined that an advisory say-on-pay stockholder vote will continue to be included in the Company’s proxy statement for, and voted on by stockholders at, each annual meeting of stockholders.
About EASTMAN CHEMICAL COMPANY (NYSE:EMN)
Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). In the AFP segment, the Company manufactures chemicals for products in the coatings, tires, consumables, animal nutrition, crop protection and energy markets. The A&P segment focuses on producing intermediate chemicals. In the AM segment, the Company produces and markets its polymers, films and plastics. In the Fibers segment, the Company manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers; Estron natural (undyed) and Chromspun solution-dyed acetate yarns and cellulose acetate flake and acetyl raw materials. The SFI segment offers products, such as acetyl chemical intermediates, olefin derivatives, specialty fluids and alkylamines.