---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-029163"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2023-06-09T23:59:59+00:00"
generated_at: "2026-06-14T04:30:43.280440+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# VAALCO shareholders reject say-on-pay; all directors elected at annual meeting

## Summary
- Advisory vote on executive compensation failed: 19.1M for vs 26.5M against (plus 22.8M broker non-votes).
- All five director nominees elected; Andrew Fawthrop received 23.3M for and 22.7M withheld (plus 22.8M broker non-votes).
- Ratification of BDO USA as auditor approved: 63.1M for, 4.2M against.
- Advisory vote on frequency selected 'one year' (43.8M votes); board adopted annual say-on-pay going forward.

## SEC filing metadata
- accession: 0001140361-23-029163
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2023-06-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/0001140361-23-029163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/brhc20054274_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-029163
- JSON: https://secwatch.observer/filing/0001140361-23-029163.json
- Plain text: https://secwatch.observer/filing/0001140361-23-029163.txt

## Key facts
- Shareholder Votes
  VAALCO ENERGY INC /DE/ shareholders approved Election of five directors, each to serve for a one-year term. at the 2023-06-08 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-06-08
  source text: Proposal No. 1 : Election of five directors, each to serve for a one-year term. Nominee Votes Cast For Votes Withheld Broker Non-Votes Andrew L. Fawthrop 23,281,208 22,682,098 22,782,646 George W. M. Maxwell 40,575,154 5,388,152 22,782,646 Edward LaFehr 41,257,555 4,705,751 22,782,646 Fabrice Nze-Bekale 29,050,004 16,913,302 22,782,646 Cathy Stubbs 33,884,769 12,078,537 22,782,646
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/0001140361-23-029163-index.htm
- Shareholder Votes
  VAALCO ENERGY INC /DE/ shareholders approved Ratification of the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. at the 2023-06-08 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-06-08
  source text: Proposal No. 2 : Ratification of the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. Votes Cast For Votes Cast Against Votes Abstained Broker Non-Votes 63,146,689 4,165,810 1,433,453 —
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/0001140361-23-029163-index.htm
- Shareholder Votes
  VAALCO ENERGY INC /DE/ shareholders approved Approval, on an advisory basis, of the frequency of future advisory votes on compensation of the Company’s named executive officers. at the 2023-06-08 meeting.
  - Proposal: say on pay frequency
  - Outcome: passed
  - Meeting: 2023-06-08
  source text: Proposal No. 4 : Approval, on an advisory basis, of the frequency of future advisory votes on compensation of the Company’s named executive officers. One Year Two Years Three Years Votes Abstained 43,824,511 451,046 926,387 761,362
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/0001140361-23-029163-index.htm
- Shareholder Votes
  VAALCO ENERGY INC /DE/ shareholders rejected Approval, on an advisory basis, of the compensation of the Company’s named executive officers. at the 2023-06-08 meeting.
  - Proposal: say on pay
  - Outcome: failed
  - Meeting: 2023-06-08
  source text: Proposal No. 3 : Approval, on an advisory basis, of the compensation of the Company’s named executive officers. Votes Cast For Votes Cast Against Votes Abstained Broker Non-Votes 19,129,778 26,485,175 348,353 22,782,646
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000114036123029163/0001140361-23-029163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.