SCHNITZER STEEL INDUSTRIES, INC. (NASDAQ:SCHN) 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
Schnitzer Steel Industries, Inc. (the “Company”) held its 2019 annual meeting of shareholders (the “Annual Meeting”) on January 29, 2019.At the Annual Meeting, all proposals passed and each of the Company’s director nominees was elected. For more information on the following proposals submitted to shareholders, please see the Company’s proxy statement filed with the Securities and Exchange Commission on December 19, 2018. Below are the final voting results.
Proposal No. 1 – Election of Directors
The Company’s shareholders elected (i) Rhonda D. Hunter, (ii) David L. Jahnke (iii) William D. Larsson as Class I directors with terms expiring at the 2022 annual meeting of shareholders. The number of votes cast for or withheld and the broker non-votes were as follows:
|
Name |
For |
Withheld |
Broker Non-Votes |
|
Rhonda D. Hunter |
20,207,023 |
398,810 |
3,141,570 |
|
David L. Jahnke |
20,350,347 |
255,486 |
3,141,570 |
|
William D. Larsson |
19,694,392 |
911,441 |
3,141,570 |
Proposal No. 2 – Advisory Resolution on Executive Compensation
The Company’s shareholders voted, on an advisory basis, on the Company’s executive compensation as disclosed in the Company’s proxy statement, as follows:
|
For |
Against |
Abstain |
Broker Non-Votes |
|
19,801,710 |
695,478 |
108,645 |
3,141,570 |
Proposal No. 3 – Ratification of the Selection of Independent Registered Public Accounting Firm
The Company’s shareholders ratified the selection of PricewaterhouseCoopers LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending August 31, 2018, as follows:
|
For |
Against |
Abstain |
Broker Non-Votes |
|
23,216,796 |
408,470 |
122,137 |
About SCHNITZER STEEL INDUSTRIES, INC. (NASDAQ:SCHN)
Schnitzer Steel Industries, Inc. is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure. AMR’s primary products include recycled ferrous and nonferrous scrap metal. The SMB segment produces finished steel products such as rebar, wire rod, coiled rebar, merchant bar and other specialty products using 100% recycled metal sourced from AMR. SMB’s products are primarily used in nonresidential and infrastructure construction in North America. SMB operates a steel mini-mill in McMinnville, Oregon that produces finished steel products using recycled metal and other raw materials.
