Fortis Inc. Shareholders Approve Election of Directors, Appointment of Auditors, Say on Pay and Amendment of Employee Share Purchase Plan
ST. JOHN'S, Newfoundland and Labrador, May 05, 2022 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced the voting results from its Annual and Special Meeting of Shareholders held today. Shareholders voted in favour of all items of business before the meeting, including: electing the nominated directors; appointing Deloitte LLP as the Corporation's auditors; on an advisory basis to accept the Corporation's approach to executive compensation; and the amendment of the Corporation's second amended and restated 2012 employee share purchase plan to increase the share reserve.
Election of Directors
Fortis shareholders elected the following 13 individuals to the Board to serve until the next Annual Meeting of Shareholders or until their successors are elected or appointed:
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld |
| Tracey C. Ball | 265,928,710 | 99.28 | 1,931,201 | 0.72 |
| Pierre J. Blouin | 265,750,372 | 99.21 | 2,109,461 | 0.79 |
| Paul J. Bonavia | 265,675,613 | 99.18 | 2,184,298 | 0.82 |
| Lawrence T. Borgard | 267,242,225 | 99.77 | 617,687 | 0.23 |
| Maura J. Clark | 265,605,461 | 99.16 | 2,254,450 | 0.84 |
| Lisa Crutchfield | 266,408,831 | 99.46 | 1,451,081 | 0.54 |
| Margarita K. Dilley | 267,222,596 | 99.76 | 637,091 | 0.24 |
| Julie A. Dobson | 265,906,217 | 99.27 | 1,947,326 | 0.73 |
| Lisa L. Durocher | 265,800,566 | 99.23 | 2,059,345 | 0.77 |
| Douglas J. Haughey | 261,130,296 | 97.49 | 6,729,615 | 2.51 |
| David G. Hutchens | 267,329,571 | 99.80 | 524,091 | 0.20 |
| Gianna M. Manes | 266,405,931 | 99.46 | 1,452,632 | 0.54 |
| Jo Mark Zurel | 267,125,556 | 99.73 | 734,055 | 0.27 |
Appointment of Auditors
Shareholders of the Corporation approved the appointment of Deloitte LLP as the Corporation's auditors to hold office until the close of the next Annual Meeting of Shareholders.
| # Votes For | % Votes For | # Votes Withheld | % Votes Withheld |
| 275,474,477 | 99.73 | 745,609 | 0.27 |
Say on Pay
Shareholders approved, on a non-binding advisory basis, the Corporation's approach to executive compensation ("Say on Pay").
| # Votes For | % Votes For | # Votes Against | % Votes Against |
| 248,590,139 | 92.81 | 19,269,766 | 7.19 |
Amendment of Employee Share Purchase Plan
Shareholders approved the amendment of the Corporation's second amended and restated 2012 employee share purchase plan to increase the share reserve under the employee share purchase plan by 3,000,000 common shares.
| # Votes For | % Votes For | # Votes Against | % Votes Against |
| 264,513,143 | 98.75 | 3,346,763 | 1.25 |
About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2021 revenue of $9.4 billion and total assets of $58 billion as at March 31, 2022. The Corporation's 9,100 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.
A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/d7337680-f315-4cc1-960b-33c3d010e675
For further information contact
| Investor Enquiries: Ms. Stephanie Amaimo Vice President, Investor Relations Fortis Inc. 248.946.3572 [email protected] | Media Enquiries: Ms. Karen McCarthy Vice President, Communications & Corporate Affairs Fortis Inc. 709.737.5323 [email protected] |
