Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At the annual meeting of stockholders of
In addition, as previously reported, on
On
Name Aggregate Grant Date Fair Value of RSUsM. Steven Bender $1,500,000 (1)L. Benjamin Ederington $2,500,000 (2) (1)Mr. Bender's RSU awards will vest in full on the third anniversary of the date of grant. (2)Mr. Ederington's RSU awards will vest in full on the fifth anniversary of the date of grant.
The number of shares underlying the RSUs will be determined by dividing the aggregate value by the closing stock price on the date of grant.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
At the 2023 Annual Meeting, the Company's stockholders approved an amendment to
the Company's Amended and Restated Certificate of Incorporation (the
"Certificate of Amendment") to provide for exculpation of certain officers of
the Company from personal liability under certain circumstances as allowed by
Item 5.07. Submission of Matters to a Vote of Security Holders.
Eight matters were voted upon by the Company's stockholders at the 2023 Annual
Meeting: (1) five members of the Board were elected; (2) the advisory vote to
approve named executive officer compensation was approved; (3) the advisory vote
regarding the frequency of the advisory vote on named executive officer
compensation was approved for every three years; (4) the proposed amendment to
the Company's Amended and Restated Certificate of Incorporation was approved;
(5) the appointment of
--------------------------------------------------------------------------------
Election of Directors Votes For Votes Withheld Broker Non-Votes Catherine T. Chao 112,661,541 11,408,154 1,854,270 Marius A. Haas 121,644,097 2,425,598 1,854,270 Kimberly S. Lubel 121,765,460 2,304,235 1,854,270 Jeffrey W. Sheets 118,850,657 5,219,038 1,854,270 Carolyn C. Sabat 112,641,801 11,427,894 1,854,270 Votes For Votes Against Abstentions Broker Non-Votes Advisory vote to approve named 122,936,982 1,095,556 37,157 1,854,270 executive officer compensation 1 year 2 years 3 years Abstentions Broker Non-Votes Advisory vote regarding the frequency of the advisory 26,315,001 44,695 97,695,881 14,118 1,854,270 vote on named executive officer compensation Votes For Votes Against Abstentions Broker Non-Votes Amendment to the Company's Amended and Restated Certificate of Incorporation to provide for exculpation of certain 109,273,551 14,712,157 83,987 1,854,270 officers of the Company from personal liability under certain circumstances as allowed by Delaware law Votes For Votes Against Abstentions Ratification of the appointment of 125,216,393 675,495 32,077 PricewaterhouseCoopers LLP Votes For Votes Against Abstentions Broker Non-Votes Amendment and restatement of the 2013 122,964,709 1,063,551 41,435 1,854,270 Omnibus Incentive Plan Votes For Votes Against Abstentions Broker Non-Votes Stockholder proposal regarding the Company's 14,386,418 109,531,355 151,922 1,854,270 greenhouse gas emission reduction targets Votes For Votes Against Abstentions Broker Non-Votes Stockholder proposal regarding the preparation of a report on 11,777,467 112,174,807 117,421 1,854,270 reducing plastic pollution of the oceans
In light of the results of the advisory vote on the frequency with which to hold the advisory vote on executive compensation, the Board of the Company has determined that the Company will hold the advisory vote on executive compensation every three years.
--------------------------------------------------------------------------------
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 3.1 Certificate of Amendment to the Company's Amended and Restated Certificate of Incorporation. 10.1Westlake Corporation's 2013 Omnibus Incentive Plan (as amended and restated effective as ofMay 11, 2023 ) (incorporated by reference to Appendix B of the Company's Definitive Proxy Statement on Schedule 14A filed onMarch 31, 2023 , File No. 001-32260). 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
--------------------------------------------------------------------------------
© Edgar Online, source