Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) 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
On May 10, 2017, Energy XXI Gulf Coast, Inc. (the Company) held
its 2017 Annual Meeting of Stockholders (the Annual Meeting). As
of the close of business on April 10, 2017, the record date for
the Annual Meeting, 33,211,594 shares of the Companys common
stock, par value $0.01 per share, were issued and outstanding and
entitled to vote at the Annual Meeting, of which 29,126,175
(approximately 88%) were present in person or by proxy. The
proposals are described in detail in the Companys proxy statement
for the Annual Meeting filed with the Securities and Exchange
Commission (SEC) on April 19, 2017. The final results for the
votes regarding each proposal are set forth below.
PROPOSAL NO. 1: ELECTION OF DIRECTORS
The Companys stockholders voted to elect each of the following
persons as directors to serve for a one-year term expiring at the
2018 Annual Meeting of Stockholders and until their successors
are duly elected and qualified. The voting results were as
follows:
| Name of Nominee | Votes For | Votes Withheld | Broker Non-Votes |
| Michael S. Bahorich | 26,338,033 | 709,904 | 2,078,238 |
| Douglas E. Brooks | 26,338,033 | 709,904 | 2,078,238 |
| George Kollitides | 26,338,033 | 709,904 | 2,078,238 |
| Michael S. Reddin | 23,988,124 | 3,059,813 | 2,078,238 |
| Stanford Springel | 26,338,033 | 709,904 | 2,078,238 |
| James W. Swent III | 26,338,033 | 709,904 | 2,078,238 |
| Charles W. Wampler | 26,338,033 | 709,904 | 2,078,238 |
PROPOSAL NO. 2: NON-BINDING ADVISORY VOTE TO APPROVE OUR NAMED
EXECUTIVE OFFICERS COMPENSATION
The Companys stockholders voted to approve, on a non-binding
advisory basis, the compensation of the Companys named executive
officers, as disclosed in the proxy statement for the Annual
Meeting to Item 402 of Regulation S-K of the rules of the SEC.
The voting results were as follows:
| Votes For | Votes Against | Abstain | Broker Non-Votes |
| 25,964,399 | 1,082,513 | 1,025 | 2,078,238 |
PROPOSAL NO. 3: NON-BINDING ADVISORY VOTE TO APPROVE THE
FREQUENCY OF FUTURE ADVISORY VOTES ON THE COMPENSATION OF OUR
NAMED EXECUTIVE OFFICERS
The Companys stockholders voted to approve, on a non-binding
advisory basis, future advisory votes on the compensation of the
Companys named executive officers every year. The voting results
were as follows:
| One Year | Two Years | Three Years | Abstain | Broker Non-Votes |
| 26,568,222 | 9,820 | 469,562 | 2,078,238 |
PROPOSAL NO. 4: APPROVAL OF APPOINTMENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
The Companys stockholders voted to ratify the appointment of
Ernst Young LLP as the Companys independent registered public
accounting firm for the fiscal year ending December 31, 2017:
| Votes For | Votes Against | Abstain |
| 29,094,591 | 31,112 |
About Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI)
Energy XXI Gulf Coast, Inc. (EGC) is an independent oil and natural gas development and production company which was focused on development drilling on the Company’s core properties. The Company’s properties are located in the United States Gulf of Mexico waters and the Gulf Coast onshore. The Company operates nine oilfields on the Gulf of Mexico Shelf. As of December 31, 2016, total proved reserves were 121.9 million barrels of oil equivalents (MMBOE) of which 78% were crude oil. The Company operated in 616 gross producing wells on 439,294 net developed acres, including interests in 57 producing fields. The Company’s projects include Main Pass Complex, West Delta, Ship Shoal, Grand Isle and South Timbalier. The Main Pass complex is located in approximately 100 feet of water near the mouth of the mississippi river. It includes Main Pass 61 field and Main Pass 73 field along with the Main Pass 296 and 311. Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) Recent Trading Information
Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) closed its last trading session up +0.09 at 27.14 with 25,209 shares trading hands.
