Kirby Corporation (NYSE:KEX) Files An 8-K Results of Operations and Financial Condition
Item 2.02.
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Results of Operations and Financial Condition
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release announcing earnings for the first quarter ended March 31,
2017. A copy of the press release is attached as Exhibit 99.1 to
this report.
release. Kirby defines EBITDA as net earnings attributable to
Kirby before interest expense, taxes on income, depreciation and
amortization. Kirby has historically evaluated its operating
performance using numerous measures, one of which is EBITDA.
EBITDA is presented because of its wide acceptance as a financial
indicator. EBITDA is one of the performance measures used in
Kirbys incentive bonus plan. EBITDA is also used by rating
agencies in determining Kirbys credit rating and by analysts
publishing research reports on Kirby, as well as by investors and
investment bankers generally in valuing companies. A quantitative
reconciliation of EBITDA to GAAP net earnings attributable to
Kirby for the 2017 and 2016 first quarters is included in the
press release.
| Item 5.07. |
Submission of Matters to a Vote of Security Holders
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at which the stockholders voted on the following matters:
were elected Class I directors of Kirby to serve until the 2020
Annual Meeting of Stockholders by the following vote:
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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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|||||||||||||
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Richard J. Alario
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48,199,478
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309,957
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7,002
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1,599,019
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||||||||||||
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David W. Grzebinski
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48,313,385
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196,046
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7,006
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1,599,019
|
||||||||||||
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Richard R. Stewart
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48,334,868
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174,617
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6,952
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1,599,019
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independent registered public accounting firm for 2017 was
ratified by the following vote:
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For
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49,943,328
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|||
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Against
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164,314
|
|||
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Abstain
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7,814
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named executive officers:
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For
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44,661,797
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|||
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Against
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3,788,838
|
|||
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Abstain
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65,802
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|||
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Broker non-votes
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1,599,019
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compensation:
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One year
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43,584,865
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|||
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Two years
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724,402
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|||
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Three years
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3,415,927
|
|||
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Abstain
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790,243
|
|||
|
Broker non-votes
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1,599,019
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compensation in its proxy materials every year until the next
required vote on the frequency of advisory votes on executive
compensation.
| Item 9.01. |
Financial Statements and Exhibits
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| (d) |
Exhibits:
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99.1
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Press release dated April 26, 2017
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About Kirby Corporation (NYSE:KEX)
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii. Its engine services segment, sells replacement parts, provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines, transmissions, reduction gears, pumps and compression products, maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines. Kirby Corporation (NYSE:KEX) Recent Trading Information
Kirby Corporation (NYSE:KEX) closed its last trading session down -0.70 at 72.40 with 469,465 shares trading hands.
