INVESTORS REAL ESTATE TRUST (NYSE:IRET) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders.
On September19, 2017, the Company held its 2017 Annual Meeting of Shareholders (the “Annual Meeting”). As of July21, 2017, the record date for holders of common shares of beneficial interest (“common shares”) entitled to vote at the Annual Meeting, there were 120,586,875 common shares outstanding and entitled to vote at the Annual Meeting. Of the common shares entitled to vote, 95,040,217, or approximately 78.81% of the common shares, were present or represented by proxy at the Annual Meeting, constituting a quorum under the Declaration of Trust. There were four matters presented and voted on at the Annual Meeting. Set forth below is a brief description of each matter voted on at the Annual Meeting and the final voting results with respect to each such matter.
Proposal 1 —Election of eight nominees to serve on the Board of Trustees for a one-year term and until their respective successors are duly elected and qualified.
Nominee |
For |
Against |
Abstain |
BrokerNon-Votes |
Jeffrey P. Caira |
60,870,615 |
782,177 |
823,546 |
32,563,879 |
Michael T. Dance |
60,888,475 |
775,423 |
812,440 |
|
Mark O. Decker,Jr. |
61,025,714 |
792,459 |
658,165 |
|
Linda J. Hall |
60,705,773 |
1,173,510 |
597,055 |
|
Terrance P. Maxwell |
60,968,937 |
680,045 |
827,356 |
|
Jeffrey L. Miller |
60,684,787 |
1,462,067 |
329,484 |
|
John A. Schissel |
61,010,165 |
641,512 |
824,661 |
|
John D. Stewart |
60,360,564 |
1,271,342 |
844,432 |
The shareholders elected all eight of the nominees as trustees.
Proposal 2 —Non-binding advisory vote on executive compensation.
For |
Against |
Abstain |
BrokerNon-Votes |
|
Votes Cast |
60,339,729 |
1,701,328 |
435,281 |
32,563,879 |
The shareholders approved, by a non-binding advisory vote, the compensation paid to the Company’s named executive officers.
Proposal 3 — Non-binding advisory vote on the frequency of future advisory votes on executive compensation.
1Year |
2Year |
3Year |
Abstain |
|
Votes Cast |
49,881,992 |
892,397 |
11,239,299 |
462,650 |
The shareholders approved, by a non-binding advisory vote, conducting future advisory votes on executive compensation each year. Subsequent to the Annual Meeting, the Company’s Board of Trustees determined that future shareholder advisory votes on executive compensation will continue to be held annually.