MBIA INC. (NYSE:MBI) Files An 8-K Submission of Matters to a Vote of Security Holders
Item5.07
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Submission of Matters to a Vote of Security Holders. |
The Annual Meeting of Shareholders of MBIA Inc. (the Company) was
held on May3, 2017 (the Annual Meeting). The matters that were
voted upon at the Annual Meeting, and the number of votes cast
for or against each matter (and percent of shares voted), as well
as the number of abstentions (and percent of shares voted) and
broker non-votes as to each such matter, where applicable, are
set forth below.
Proposal 1: Election of Directors. The shareholders
elected the Companys nominees to the Board of Directors. The
voting results were as follows:
|
Nominees |
For (% of shares voted) | Against (% of shares voted) | Abstain (% of shares voted) | Broker Non-Votes | ||||||||||||||||||||||||
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Joseph W. Brown |
98,550,317 | (98.92 | %) | 436,865 | (0.44 | %) | 635,532 | (0.64 | %) | 17,841,599 | ||||||||||||||||||
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Maryann Bruce |
96,859,616 | (97.23 | %) | 2,115,116 | (2.12 | %) | 647,982 | (0.65 | %) | 17,841,599 | ||||||||||||||||||
|
Francis Y. Chin |
97,834,595 | (98.21 | %) | 1,140,046 | (1.14 | %) | 648,073 | (0.65 | %) | 17,841,599 | ||||||||||||||||||
|
Keith D. Curry |
96,872,150 | (97.24 | %) | 2,098,013 | (2.11 | %) | 652,551 | (0.66 | %) | 17,841,599 | ||||||||||||||||||
|
William C. Fallon |
97,216,558 | (97.58 | %) | 432,745 | (0.43 | %) | 1,973,411 | (1.98 | %) | 17,841,599 | ||||||||||||||||||
|
Steven J. Gilbert |
93,837,419 | (94.19 | %) | 5,133,074 | (5.15 | %) | 652,221 | (0.65 | %) | 17,841,599 | ||||||||||||||||||
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Charles R. Rinehart |
96,866,730 | (97.23 | %) | 2,101,763 | (2.11 | %) | 654,221 | (0.66 | %) | 17,841,599 | ||||||||||||||||||
|
Lois A. Scott |
98,580,051 | (98.95 | %) | 394,707 | (0.40 | %) | 647,956 | (0.65 | %) | 17,841,599 | ||||||||||||||||||
|
Theodore Shasta |
98,551,142 | (98.92 | %) | 420,023 | (0.42 | %) | 651,549 | (0.65 | %) | 17,841,599 | ||||||||||||||||||
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Richard C. Vaughan |
98,529,667 | (98.90 | %) | 442,132 | (0.44 | %) | 650,915 | (0.65 | %) | 17,841,559 |
Proposal 2: Approval of Compensation Paid to Named Executive
Officers. The shareholders voted to approve the compensation
of the Companys named executive officers listed in the proxy
statement for the Annual Meeting. The shareholder vote is
advisory and non-binding. The voting results were as follows:
| For (% of shares voted) | Against (% of shares voted) | Abstain (% of shares voted) | Broker Non-Votes | |||||||||||||||||||||||
| 69,720,174 | (69.98 | %) | 29,789,907 | (29.90 | %) | 112,633 | (0.11 | %) | 17,841,599 |
Proposal 3: Vote on Frequency of the Shareholder Vote on
Named Executive Officer Compensation. The shareholders voted
for the Company to present shareholders with the opportunity to
vote on the compensation awarded to its named executive officers
every year. The shareholder vote is advisory and non-binding. The
voting results were as follows:
|
Every Year (% of shares voted) |
Every Two Years (% of shares voted) |
Every Three Years (% of shares voted) |
Abstain (% of share voted) | |||||||||||||||||||||||||||
| 89,709,101 | (90.05 | %) | 52,957 | (0.05 | %) | 9,640,114 | (9.68 | %) | 220,542 | (0.22 | %) |
Proposal 4: Approval of the Performance Goals in the MBIA
Inc. 2005 Omnibus Incentive Plan, as amended. The
Shareholders voted to approve the performance goals in the MBIA
Inc. 2005 Omnibus Incentive Plan, as amended, for purposes of
Section 162(m) of the Internal Revenue Code. The voting results
were as follows:
| For (% of shares voted) | Against (% of shares voted) | Abstain (% of shares voted) | Broker Non-Votes | |||||||||||||||||||||||
| 98,747,058 | (99.12 | %) | 678,964 | (0.68 | %) | 196,692 | (0.20 | %) | 17,841,599 |
Proposal 5: Ratification of Appointment of Independent
Registered Public Accounting Firm. The shareholders ratified
the appointment of PricewaterhouseCoopers LLP as the Companys
independent registered public accounting firm for 2017. The
voting results were as follows:
| For (% of shares voted) | Against (% of shares voted) | Abstain (% of shares voted) | Broker Non-Votes | |||||||||||||||||||||||
| 114,986,327 | (97.89 | %) | 2,251,843 | (1.92 | %) | 226,143 | (0.19 | %) | 0 |
About MBIA INC. (NYSE:MBI)
MBIA Inc. (MBIA) is a holding company. The Company, through its subsidiary, National Public Finance Guarantee Corporation (National), is engaged in providing financial guarantee insurance to the United States public finance markets. MBIA’s segments include United States (U.S.) public finance insurance, international and structured finance insurance, and corporate. The U.S. public finance insurance segment is operated through National, and is engaged in generating new insurance business in National, consistent with its portfolio management and return requirements, and to maximize the economics of its existing insured portfolio through surveillance and remediation. The international and structured finance insurance business is primarily operated through MBIA Insurance Corporation and its subsidiaries (MBIA Corp.). The corporate segment is operated through the Company and its subsidiaries, including its service company, MBIA Services Corporation (MBIA Services). MBIA INC. (NYSE:MBI) Recent Trading Information
MBIA INC. (NYSE:MBI) closed its last trading session up +0.08 at 8.09 with 1,209,327 shares trading hands.
