TIME INC. (NYSE:TIME) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07. Submission of Matters to a Vote of Security Holders.
On June 29, 2017, Time Inc. (the "Company") held its annual meeting of stockholders ("Annual Meeting"). At the Annual Meeting, the stockholders:
|
•approved, on an advisory basis, the compensation of the Company’s executive officers named in the 2017 Proxy Statement; and •did not approve a stockholder proposal regarding an independent Board chairman since the proposal received "for" votes from less than a majority of the votes duly cast by the holders of the Company's common stock. |
The final results of the voting were as follows:
Proposal No. 1: Election of Directors
|
For |
Against |
Abstain |
Broker Non-Votes |
|
|
Richard Battista |
80,148,695 |
1,466,957 |
106,270 |
8,959,335 |
|
David A. Bell |
78,524,087 |
3,091,710 |
106,125 |
8,959,335 |
|
John M. Fahey, Jr. |
80,175,304 |
1,439,606 |
107,012 |
8,959,335 |
|
Manuel A. Fernandez |
80,134,106 |
1,481,663 |
106,153 |
8,959,335 |
|
Dennis J. FitzSimons |
78,539,241 |
3,076,021 |
106,660 |
8,959,335 |
|
Betsy D. Holden |
78,559,469 |
3,055,453 |
107,000 |
8,959,335 |
|
Kay Koplovitz |
78,542,863 |
3,072,557 |
106,502 |
8,959,335 |
|
Ronald S. Rolfe |
80,133,859 |
1,479,840 |
108,223 |
8,959,335 |
|
Dan Rosensweig |
73,637,515 |
7,977,600 |
106,807 |
8,959,335 |
|
Michael P. Zeisser |
80,058,569 |
1,556,073 |
107,280 |
8,959,335 |
In connection with this election and the previously-announced departures from the Board of Directors, John M. Fahey, Jr. has been appointed the Non-Executive Chairman of the Company's Board of Directors and Dan Rosensweig has been appointed as a member of the Nominating and Governance Committee of the Board of Directors.
|
For |
Against |
Abstain |
|
90,334,440 |
225,921 |
120,896 |
Proposal No. 3: Advisory Vote to Approve Executive Compensation
|
For |
Against |
Abstain |
Broker Non-Votes |
|
45,783,258 |
35,802,141 |
136,523 |
8,959,335 |
Proposal No. 4: Stockholder Proposal on Independent Board Chairman
|
For |
Against |
Abstain |
Broker Non-Votes |
|
26,259,947 |
55,333,044 |
128,931 |
8,959,335 |
About TIME INC. (NYSE:TIME)
Time Inc. is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*. The Company’s franchises and events include the Fortune 500, Time 100, People’s Sexiest Man Alive, Sports Illustrated’s Sportsperson of the Year, the Food & Wine Classic in Aspen, the Essence Festival and the biennial Fortune Global Forum. The Company provides content marketing, targeted local print and digital advertising programs, branded book publishing, and marketing and support services, including subscription sales services for magazines and other products, retail distribution and marketing services, and customer service and fulfillment services, for the Company and third-party clients, including other magazine publishers.