Frontier Communications Corporation (NASDAQ:FTR) Files An 8-K Submission of Matters to a Vote of Security Holders
Item5.07
| Submission of Matters to a Vote of Security Holders. |
Frontier Communications Corporation held its 2017 Annual Meeting
of Stockholders on May10, 2017. The number of shares of common
stock present at the Annual Meeting was 956,266,374 or 81.18% of
the shares of common stock outstanding on March13, 2017, the
record date for the Annual Meeting. At the Annual Meeting, the
following items were submitted to a vote of stockholders:
(1) All nominees were elected to serve on the Board of Directors
to the following votes:
|
DIRECTOR
|
FOR
|
AGAINST
|
ABSTAIN
|
|||
|
Leroy T. Barnes, Jr. |
438,218,818 | 41,701,484 | 7,784,524 | |||
|
Peter C.B. Bynoe |
441,060,789 | 38,685,679 | 7,958,358 | |||
|
Diana S. Ferguson |
445,228,722 | 34,785,685 | 7,690,419 | |||
|
Edward Fraioli |
447,171,950 | 32,698,532 | 7,834,344 | |||
|
Daniel J. McCarthy |
441,877,911 | 37,500,006 | 8,326,909 | |||
|
Pamela D.A. Reeve |
441,804,315 | 38,158,282 | 7,742,229 | |||
|
Virginia P. Ruesterholz |
444,794,548 | 35,261,873 | 7,648,405 | |||
|
Howard L. Schrott |
438,255,529 | 41,541,688 | 7,907,609 | |||
|
Mark Shapiro |
435,981,082 | 43,963,511 | 7,760,233 | |||
|
Myron A. Wick III |
432,946,693 | 46,900,968 | 7,857,165 |
There were 468,561,548 broker non-votes with respect to each
nominee.
(2) The advisory proposal to approve executive compensation was
approved with the following vote:
|
FOR
|
AGAINST
|
ABSTAIN
|
||
|
386,555,315 |
90,715,391 | 10,434,120 |
There were 468,561,548 broker non-votes with respect to this
matter.
(3) On the advisory proposal on the frequency of the advisory
executive compensation proposal, Frontiers stockholders recommend
that such vote be held annually as follows:
|
ONE YEAR
|
TWO YEARS
|
THREE YEARS
|
ABSTAIN
|
|||
|
410,573,503 |
8,714,261 | 56,604,094 | 11,812,968 |
There were 468,561,548 broker non-votes with respect to this
matter.
Frontier will include an advisory vote on executive compensation
on an annual basis until the next advisory vote on the frequency
of the executive compensation proposal, which will occur no later
than Frontiers 2023 Annual Meeting.
| (4) |
The proposal to approve Frontiers 2017 Equity Incentive Plan was approved with the following vote: |
|
FOR
|
AGAINST
|
ABSTAIN
|
||
|
407,333,003 |
68,522,595 | 11,849,228 |
There were 468,561,548 broker non-votes with respect to this
matter.
(5) The proposal to adopt an Amendment to Frontiers Restated
Certificate of Incorporation was approved with the following
vote:
|
FOR
|
AGAINST
|
ABSTAIN
|
||
|
787,336,329 |
150,201,282 | 18,728,763 |
There were no broker non-votes with respect to this matter.
(6) The appointment of KPMG LLP as Frontiers independent
registered public accounting firm for 2017 was ratified with the
following vote:
|
FOR
|
AGAINST
|
ABSTAIN
|
||
|
903,529,639 |
39,493,933 | 13,242,802 |
There were no broker non-votes with respect to this matter.
| Item8.01 | Other Events. |
On May10, 2017, following the Annual Meeting, the Board of
Directors determined to effect the reverse stock split of the
issued shares of common stock at a ratio of one share for fifteen
shares. The reverse stock split will be effective as of the
beginning of trading on Monday, July10, 2017, and will reduce the
number of shares of common stock outstanding to approximately
78.5million shares. In addition, and at the same time, the total
number of shares of common stock that Frontier is authorized to
issue will change from 1,750,000,000 shares to 175,000,000
shares. Frontiers equity market capitalization will be unchanged.
A copy of the press release issued on May12, 2017 is attached
hereto as Exhibit 99.
| Item9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| Press Release of Frontier issued on May12, 2017. |
About Frontier Communications Corporation (NASDAQ:FTR)
Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services. It offers these services both on a standalone basis and as bundled packages that are designed to simplify customer purchasing decisions. Frontier provides both regulated and unregulated voice, data and video services to residential, business and wholesale customers. It provides data and Internet services; local and long distance wireline voice services to residential and business customers in its service areas; network access to interexchange carriers for origination and termination of long distance voice and data traffic; sales of its own and third-party video services, and sales of customer premise equipment. Frontier Communications Corporation (NASDAQ:FTR) Recent Trading Information
Frontier Communications Corporation (NASDAQ:FTR) closed its last trading session 00.00 at 1.20 with 59,109,072 shares trading hands.