KAR Auction Services, Inc. (NYSE:KAR) 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.
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(a)
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The annual meeting of stockholders of KAR Auction Services,
Inc. (the Company) was held on June 5, 2017 (Annual Meeting). |
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(b)
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At the Annual Meeting, the stockholders:
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elected all nine nominees for director to the Companys
Board of Directors;
approved, on an advisory basis, executive compensation;
approved, on an advisory basis, having an advisory vote
on executive compensation every year; and
ratified the appointment of KPMG LLP as the Companys
independent registered public accounting firm for the fiscal year 2017. |
items voted on at the Annual Meeting.
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1.
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Election of Directors:>
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NAME
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FOR
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AGAINST
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ABSTAIN
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BROKER
NON VOTES
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Todd F. Bourell
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124,692,265
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264,466
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47,739
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4,288,086
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Donna R. Ecton
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124,747,520
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197,791
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59,159
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4,288,086
|
|
James P. Hallett
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121,894,032
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1,404,233
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1,706,205
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4,288,086
|
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Mark E. Hill
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124,683,172
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274,263
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47,035
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4,288,086
|
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J. Mark Howell
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124,759,558
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197,266
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47,646
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4,288,086
|
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Lynn Jolliffe
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124,691,405
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265,543
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47,522
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4,288,086
|
|
Michael T. Kestner
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124,759,142
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197,081
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48,247
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4,288,086
|
|
John P. Larson
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124,759,741
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196,576
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48,153
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4,288,086
|
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Stephen E. Smith
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124,691,276
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265,488
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47,706
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4,288,086
|
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FOR
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AGAINST
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ABSTAIN
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BROKER NON VOTES
|
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122,058,831
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2,782,009
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163,630
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4,288,086
|
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3.
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Advisory Vote on Frequency of Advisory Vote on Executive
Compensation: |
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1 YEAR
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2 YEARS
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3 YEARS
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ABSTAIN
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BROKER
NON VOTES
|
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118,745,369
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7,017
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6,192,441
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59,643
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4,288,086
|
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4.
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Ratification of Appointment of KPMG LLP:
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FOR
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AGAINST
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ABSTAIN
|
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128,924,235
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322,645
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45,676
|
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(c)
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Not applicable.
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(d)
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At a meeting held immediately after the Annual Meeting, the
Board of Directors reviewed the voting results for the Annual Meeting. Based on that review, the Board determined, until the next required vote on the frequency of stockholder votes on executive compensation, to hold the advisory stockholder vote on executive compensation every year. |
About KAR Auction Services, Inc. (NYSE:KAR)
KAR Auction Services, Inc. is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc. (ADESA Auctions), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). The ADESA segment is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. The Company operates as IAA in the United States and Impact Auto Auctions in Canada. The AFC segment is a provider of floorplan financing to independent used vehicle dealers. It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its approximately 240 physical auction locations, and multiple Internet venues. The Company facilitates the sale of over 4.4 million used and salvage vehicles.