other material
confidence high
sentiment negative
materiality 0.70
Flowserve shareholders vote down executive compensation; board reduced to 9
FLOWSERVE CORP
- Advisory vote on executive compensation rejected: 88.6M against vs 26.4M for (78% of votes cast).
- Board size reduced from 10 to 9 effective May 12, 2022, following director Roger L. Fix's retirement.
- Bylaws amended: exclusive forum for Securities Act claims, updated electronic meeting rules, enhanced director nomination requirements.
- All 9 director nominees elected, and PwC ratified as auditor for 2022 with 98% support.
- Shareholder proposal to lower special meeting threshold to 10% failed with 55% against votes.