Hearne, Pease, Cornelius, Heim elected to Phillips 66 board; declassification proposal rejected

Phillips 66

Four Class I directors elected: Hearne (mgmt), Pease (mgmt), Cornelius (Elliott), Heim (Elliott).
Management nominees Lowe and Ungerleider failed; Elliott nominees Coffman and Nieuwoudt also failed.
Board declassification amendment rejected: 295M For, 7M Against (needed supermajority).
Say-on-pay approved with ~85% support; one-year frequency for future advisory votes approved.
Non-binding shareholder proposal for annual director resignations rejected: 99.5M For vs 202.7M Against.

item 5.07

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