MGE Energy, Inc. (Nasdaq: MGEE) will announce today:
Item 5.07. Submission of Matters to a Vote of Security Holders.
MGE Energy's Annual Meeting of Shareholders was held on May 19, 2020. The results of voting on each of the matters submitted to a vote of security holders during the annual meeting were as follows:
1. Election of three Class I Directors with terms of office expiring at the 2023 annual meeting of shareholders.
For Votes | Withhold Votes | Broker Non-Votes | ||||||
James G. Berbee | 22,579,071 | 546,454 | 5,312,507 | |||||
Londa J. Dewey | 22,665,438 | 460,087 | 5,312,507 | |||||
Thomas R. Stolper | 22,620,391 | 505,134 | 5,312,507 |
No votes were cast for any other nominee. The directors continuing in office are:
Class II Directors | Class III Directors | |||
Term Expires 2021 | Term Expires 2022 | |||
Marcia M. Anderson | Mark D. Bugher | |||
Jeffrey M. Keebler | F. Curtis Hastings | |||
Gary J. Wolter | James L. Possin |
2. Approval of MGE Energy's 2021 long term incentive plan.
For Votes | Against Votes | Abstained | Broker Non-Votes | |||||
21,832,774 | 916,671 | 376,080 | 5,312,507 |
As described in the Proxy Statement, the votes "For" must exceed the votes cast "Against" at the meeting in order to approve the 2021 Long-Term Incentive Plan. Abstentions and broker nonvotes do not have any effect. Below are the percentages of the votes cast either "For" or "Against" approval of MGE Energy's 2021 Long-Term Incentive Plan.
For | Against | |||
96% | 4% |
3. Ratification of selection of PricewaterhouseCoopers LLP to serve as MGE Energy's independent registered public accounting firm for the year 2020.
For Votes | Against Votes | Abstained | Broker Non-Votes | |||||
27,461,495 | 796,481 | 180,056 | 0 |
As described in the Proxy Statement, the votes "For" must exceed the votes cast "Against" at the meeting in order to ratify the selection of the auditors. Abstentions do not have any effect. Below are the percentages of the votes cast either "For" or "Against" ratification of PricewaterhouseCoopers LLP for the fiscal year 2020.
For | Against | |||
97% | 3% |
4. Advisory vote on executive compensation as disclosed in the annual meeting proxy statement.
For Votes | Against Votes | Abstained | Broker Non-Votes | |||||
20,477,980 | 1,987,925 | 659,620 | 5,312,507 |
As described in the Proxy Statement, the advisory vote on executive compensation is nonbinding, as provided by law. Below are the percentages of the votes cast either "For" or "Against" the advisory vote on executive compensation.
For | Against | |||
91% | 9% |
5. Shareholder proposal relating to nominating an environmental expert to the MGE Energy Board of Directors
For Votes | Against Votes | Abstained | Broker Non-Votes | |||||
2,531,665 | 19,779,337 | 814,523 | 5,312,507 |
As described in the Proxy Statement, the nonbinding shareholder proposal must receive the affirmative vote of a majority of the votes cast in order to pass. Abstentions and broker nonvotes do not have any effect. Notwithstanding the shareholder vote on the shareholder proposal, the ultimate adoption of such proposal is at the discretion of our board. Below are the percentages of the votes cast either "For" or "Against" the shareholder proposal.
For | Against | |||
11% | 89% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20200521005656/en/
Contacts:
EVP CFO Secretary and Treasurer
(608) 252-7000
