PRINCIPAL FINANCIAL GROUP, INC. (NYSE:PFG) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07. Submission of Matters to a Vote of Security Holders
Section 14A of the Securities Exchange Act of 1934 requires registrants to hold a non-binding shareholder advisory vote regarding the frequency of voting on executive compensation. The voting frequency can be every year, every two years or every three years.
At the 2017 Annual Meeting, the Company’s shareholders voted on, among other matters, an advisory vote regarding the frequency of future advisory votes for say-on-pay. Approximately 89% of the shares voting on the matter voted in favor of an annual frequency for say-on-pay votes. In response to the voting results and other factors, the Company’s Board of Directors determined at a meeting held on September 18, 2017, that the Company will hold an advisory vote for say-on-pay every year. As a result, a say-on-pay vote will be held each year until the next vote on the frequency of such advisory vote is conducted or until the Board of Directors determines that a different frequency for such advisory vote would be in the best interest of the Company’s shareholders.
About PRINCIPAL FINANCIAL GROUP, INC. (NYSE:PFG)
Principal Financial Group, Inc. is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S. Insurance Solutions. It offers retirement and employee benefit solutions, and individual insurance solutions. It offers portfolio of products and services for retirement savings and retirement income. Its Principal Global Investors segment manages assets for investors around the world, using a multi-boutique strategy that provides diverse investment capabilities, including equity, fixed income, real estate and other alternative investments. It offers pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment provides group and individual insurance solutions.