BENTONVILLE, Ark., Jun 06, 2011 (BUSINESS WIRE) -- Wal-Mart Stores, Inc. (NYSE: WMT) today announced preliminary shareholder voting results for its Annual Meeting of Shareholders held June 3. Approximately 90.7 percent of outstanding shares were represented at the meeting.
The company reported that shareholders approved the election of each of Walmart's 15 director nominees. Each director received affirmative votes from approximately 98.0 percent or more of the shares voted. Shareholders also ratified Ernst & Young LLP as Walmart's independent accountants, with affirmative votes from approximately 99.4 percent of the shares that were represented at the meeting and entitled to vote.
Shareholders also voted to approve, on an advisory basis, the compensation of Walmart's named executive officers described in Walmart's 2011 proxy statement, with approximately 98.8 percent of the shares present in person or represented by proxy voting in favor of this proposal. Following the recommendation of Walmart's Board of Directors, shareholders also indicated a preference for annual advisory votes on executive compensation going forward, with approximately 96.7 percent of the shares present in person or represented by proxy voting in favor of this alternative.
The five 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 entitled to vote 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 5 - Gender identity non-discrimination policy: approximately 10.1 percent of the shares that were represented at the meeting and entitled to vote.
- Proposal 6 - Political contributions report: approximately 12.6 percent of the shares that were represented at the meeting and entitled to vote.
- Proposal 7 - Special shareowner meetings: approximately 18.5 percent of the shares that were represented at the meeting and entitled to vote.
- Proposal 8 - Require supplier(s) to publish an annual sustainability report: approximately 1.9 percent of the shares that were represented at the meeting and entitled to vote.
- Proposal 9 - Climate change risk disclosure: approximately 1.0 percent of the shares that were represented at the meeting and entitled to vote.
The official results and exact voting percentages for each of these proposals will be disclosed in a report to be filed later this week with the Securities and Exchange Commission.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at 9,029 retail units under 60 different banners in 15 countries. With fiscal year 2011 sales of $419 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting www.walmartstores.com.
SOURCE: Wal-Mart Stores, Inc.
Wal-Mart Stores, Inc.
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