8-K
filed May 30, 2023, 7:59 PM ET
ticker YUMC
CIK 0001673358
other material
confidence high
sentiment neutral
materiality 0.15
Yum China shareholders approve all proposals at 2023 annual meeting; say-on-pay passes with 67% support
Yum China Holdings, Inc.
- All nine director nominees elected; highest opposition was Ruby Lu with 38.3M against (11.5% of votes cast).
- Say-on-pay approved: 223.4M for, 109.0M against (~67% support); advisory frequency set at every year.
- Share issuance authorization up to 20% of outstanding shares approved (314.9M for, 18.9M against).
- Share repurchase authorization up to 10% of outstanding shares approved (332.9M for, 0.9M against).
- Ratification of KPMG as auditors passed with 356.7M for (99.7% of votes cast).
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Approval and ratification of the appointment of KPMG Huazhen LLP and KPMG as independent auditors for 2023 at the 2023-05-25 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 2: The approval and ratification of the appointment of KPMG Huazhen LLP and KPMG as the Company’s independent auditors for 2023: For Against Abstain Broker Non-Votes 356,746,322 694,510 428,335 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Approval of Board's continuing authority to approve repurchases of shares of common stock up to 10% of outstanding shares at the 2023-05-25 meeting.
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 6: To approve the Board of Directors’ continuing authority to approve the repurchases of shares of common stock in an amount not to exceed 10% of the Company’s total number of outstanding shares of common stock as of the date of the Annual Meeting, effective from date of the Annual Meeting until the earlier of the date the next annual meeting is held or June 25, 2024. For Against Abstain Broker Non-Votes 332,905,407 627,971 868,971 23,466,818
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Advisory vote to approve named executive officer compensation at the 2023-05-25 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 3: An advisory vote to approve the Company’s named executive officer compensation: For Against Abstain Broker Non-Votes 223,437,850 109,004,681 1,959,818 23,466,818
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Advisory vote to approve the frequency of the advisory vote to approve named executive officer compensation at the 2023-05-25 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 4: Advisory vote to approve the frequency of the advisory vote to approve the Company’s named executive officer compensation: 1 Year 2 Years 3 Years Abstain Broker Non-Votes 330,295,260 289,210 3,493,989 323,890 23,466,818
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Approval of Board's continuing authority to approve issuances of shares of common stock or securities convertible into common stock up to 20% of outstanding shares at the 2023-05-25 meeting.
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 5: To approve the Board of Directors’ continuing authority to approve issuances of shares of common stock or securities convertible into common stock in an amount not to exceed 20% of the Company’s total number of outstanding shares of common stock as of the date of the Annual Meeting, effective from date of the Annual Meeting until the earlier of the date the next annual meeting is held or June 25, 2024 . For Against Abstain Broker Non-Votes 314,941,218 18,874,669 586,462 23,466,818
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yum China Holdings, Inc. shareholders approved Election of nine director nominees to serve until the 2024 annual meeting at the 2023-05-25 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-25
Exact text from the filing
Proposal 1: The election of nine director nominees to serve until the 2024 annual meeting of the Company’s stockholders: Director Name For Against Abstain Broker Non-Votes Fred Hu 330,974,429 3,064,876 363,044 23,466,818 Joey Wat 333,664,566 378,414 359,369 23,466,818 Peter A. Bassi 333,027,815 1,007,603 366,931 23,466,818 Edouard Ettedgui 326,085,416 7,955,452 361,481 23,466,818 Ruby Lu 295,760,608 38,298,505 343,236 23,466,818 Zili Shao 333,495,155 547,154 360,040 23,466,818 William Wang 325,925,183 8,110,515 366,651 23,466,818 Min (Jenny) Zhang 326,129,537 7,933,934 338,878 23,466,818 Christina Xiaojing Zhu 328,305,316 5,752,105 344,928 23,466,818
View on SEC.gov
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