O'Reilly Automotive Inc. filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders
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Section 5 – Corporate Governance and Management
Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
At O’Reilly Automotive, Inc.’s (the “Company”) 2024 Annual Meeting of Shareholders (the “Annual Meeting”) held on May 16, 2024, the Company’s shareholders elected Greg Henslee, David O’Reilly, Larry O’Reilly, Thomas T. Hendrickson, Gregory D. Johnson, John R. Murphy, Dana M. Perlman, Maria A. Sastre, Andrea M. Weiss, and Fred Whitfield to serve as members of the Company’s Board of Directors (the “Board”) until the annual meeting of the Company’s shareholders in 2025 and until his or her successor has been duly elected and qualified.
Following the Annual Meeting, one member of the Board, Jay D. Burchfield, tendered his notice of resignation from the Board, consistent with the Board’s mandatory retirement age policy and after his successor had been duly elected at the Annual Meeting, and the Board accepted his resignation.
The members of the Board’s Audit Committee, Human Capital and Compensation Committee, and Corporate Governance/Nominating Committee are set forth below. The purposes and functions of the respective committees remain unchanged. In addition, Thomas T. Hendrickson was selected to serve as Independent Lead Director.
Audit Committee
Members: | Thomas T. Hendrickson (Chair), John R. Murphy, Dana M. Perlman, Andrea M. Weiss |
Human Capital and Compensation Committee
Members: | John R. Murphy (Chair), Maria A. Sastre, Andrea M. Weiss, and Fred Whitfield |
Corporate Governance/Nominating Committee
Members: | Dana M. Perlman (Chair), Thomas T. Hendrickson, Maria A. Sastre, and Fred Whitfield |
Item 5.07 – Submission of Matters to a Vote of Security Holders
Of the 59,027,035 shares entitled to vote at the Annual Meeting, 53,347,599 shares were present in person or by proxy. At the Annual Meeting, the shareholders were asked to vote on three Company proposals and one shareholder proposal. A brief description of each proposal, along with the outcome and tabulation of voting results, is set forth below:
(a) | The individuals listed in the table below were elected as directors, to hold office until the annual meeting of the Company’s shareholders in 2025 and until his or her successor has been duly elected and qualified. The voting results for each such director are as follows: |
Number of Shares | ||||||||
Name of Nominee | Voted For | Voted Against | Abstain | Broker Non-Votes | ||||
Greg Henslee | 45,380,435 | 2,972,550 | 34,160 | 4,960,454 | ||||
David O'Reilly | 45,907,835 | 2,445,865 | 33,445 | 4,960,454 | ||||
Larry O'Reilly | 43,247,444 | 5,088,292 | 51,409 | 4,960,454 | ||||
Gregory D. Johnson | 46,011,767 | 2,327,946 | 47,432 | 4,960,454 | ||||
Thomas T. Hendrickson | 43,781,233 | 4,505,780 | 100,132 | 4,960,454 | ||||
John R. Murphy | 42,960,029 | 5,347,999 | 79,117 | 4,960,454 | ||||
Dana M. Perlman | 45,000,246 | 3,307,532 | 79,367 | 4,960,454 | ||||
Maria A. Sastre | 46,017,954 | 2,307,615 | 61,576 | 4,960,454 | ||||
Andrea M. Weiss | 46,997,852 | 1,333,027 | 56,266 | 4,960,454 | ||||
Fred Whitfield | 46,033,063 | 2,246,498 | 107,584 | 4,960,454 |
(b) | The shareholders voted to approve, by a non-binding, advisory vote, the 2023 compensation of the Company’s Named Executive Officers (NEOs). The voting results are as follows: |
Number of Shares | ||||||
Voted For | Voted Against | Abstain | Broker Non-Votes | |||
43,776,382 | 4,448,488 | 162,275 | 4,960,454 |
(c) | The shareholders voted to ratify the appointment of Ernst & Young LLP, as the Company’s independent auditors for the fiscal year ending December 31, 2024. The voting results are as follows: |
Number of Shares | ||||
Voted For | Voted Against | Abstain | ||
50,285,254 | 3,021,215 | 41,130 |
(d) | The shareholders voted against the shareholder proposal entitled “Independent Board Chairman.” The voting results are as follows: |
Number of Shares | ||||||
Voted For | Voted Against | Abstain | Broker Non-Votes | |||
19,607,787 | 28,680,046 | 99,312 | 4,960,454 |