BENTONVILLE, Ark., June 8 -- Wal-Mart Stores, Inc. (NYSE: WMT) today announced preliminary shareholder voting results for its Annual Meeting of Shareholders held June 5, 2009 . Approximately 91.6 percent of outstanding shares were represented at the meeting.
The company reported that shareholders approved the election of each of Wal-Mart's 15 director nominees. Each director received affirmative votes from 96.7 percent or more of the shares voted. Shareholders also ratified Ernst & Young LLP as Wal-Mart's independent accountants, with affirmative votes from approximately 99.3 percent of the shares that were represented at the meeting.
The remaining six shareholder proposals, which the Board of Directors recommended against, failed to receive affirmative votes from a majority of the total shares that were represented at the meeting and accordingly, they were defeated. A preliminary report on the approximate percentages of the shares represented at the meeting that were voted in favor of each shareholder proposal follows:
-- Proposal 3 - Gender identity nondiscrimination policy: approximately 12.8 percent of the shares that were represented at the meeting
-- Proposal 4 - Pay for superior performance: approximately 2.6 percent of the shares that were represented at the meeting
-- Proposal 5 - Advisory vote on executive compensation: approximately 18.5 percent of the shares that were represented at the meeting
-- Proposal 6 - Political contributions report: approximately 11.7 percent of the shares that were represented at the meeting
-- Proposal 7 - Special shareowner meetings: approximately 21.5 percent of the shares that were represented at the meeting
-- Proposal 8 - Incentive compensation to be paid in stock options: approximately 1.2 percent of the shares that were represented at the meeting
Final vote totals will be included in the company's quarterly report for the fiscal quarter ending July 31, 2009 to be filed with the United States Securities and Exchange Commission .
Wal-Mart Stores, Inc. serves customers and members more than 200 million times per week at more than 7,900 retail units under 55 different banners in 15 countries. With fiscal year 2009 sales of $401 billion , Wal-Mart employs more than 2.1 million associates worldwide. A leader in sustainability, corporate philanthropy and employment opportunity, Wal-Mart ranked first among retailers in Fortune Magazine's 2009 Most Admired Companies survey. Additional information about Wal-Mart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.
SOURCE Wal-Mart Stores, Inc.
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Wal-Mart Stores, Inc.
Web Site: http://www.walmartstores.com
