8-K
filed June 7, 2023, 7:59 PM ET
ticker DRS
CIK 0001833756
other
confidence high
sentiment neutral
materiality 0.25
Leonardo DRS stockholders approve officer exculpation amendment, elect directors at annual meeting
Leonardo DRS, Inc.
- Stockholders approved charter amendment to limit officer liability for breach of duty of care, effective June 6, 2023.
- All nine director nominees elected; Kenneth J. Krieg received highest withheld votes at 11.4 million.
- Advisory vote on executive compensation passed (240.8M for, 3.9M against); board adopts annual frequency.
- Ratification of Ernst & Young as independent auditor for FY2023 approved with 250.3 million votes for.
- Charter amendment passed with 218.5 million for and 26.2 million against.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Leonardo DRS, Inc.: Amendment to the Company's Amended and Restated Certificate of Incorporation to delete Article Eighth and insert a new Article Eighth eliminating or limiting monetary liability of specified executive officers for breach of the duty of care, consistent with Section 102(b)(7) of DGCL (effective 2023-06-06).
- Change
- charter amendment
- Effective
- 2023-06-06
Exact text from the filing
On June 1, 2023, the stockholders of Leonardo DRS, Inc. (“Leonardo DRS” or the "Company”) voted at the 2023 Annual Meeting of Stockholders (the “Annual Meeting”) to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Charter”) to delete Article Eighth in its entirety and insert in its place a new Article Eighth. The amendment provides for the elimination or limitation of monetary liability of specified executive officers of the Company for breach of the duty of care, consistent with the recent amendment to Section 102(b)(7) of the Delaware General Corporation Law. The amendments to the Charter took effect upon the filing of a Certificate of Amendment to the Company’s Charter with the Secretary of State of the State of Delaware (the “Amendment”) on June 6, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Leonardo DRS, Inc. shareholders approved Election of Directors.
- Proposal
- director election
- Outcome
- passed
Exact text from the filing
Election of Directors Shares Voted For Shares Voted Against Withheld Broker Non-Votes William J. Lynn III 242,173,409 N/A 2,606,654 5,633,439 Frances F. Townsend 243,635,062 N/A 1,145,001 5,633,439 Gail Baker 244,450,483 N/A 329,580 5,633,439 Dr. Louis R. Brothers 244,465,263 N/A 314,800 5,633,439 David W. Carey 243,511,347 N/A 1,268,716 5,633,439 General George W. Casey, Jr. 244,450,366 N/A 329,697 5,633,439 Mary E. Gallagher 244,448,711 N/A 331,352 5,633,439 Kenneth J. Krieg 233,365,928 N/A 11,414,135 5,633,439 Eric Salzman 236,462,745 N/A 8,317,318 5,633,439
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Leonardo DRS, Inc. shareholders approved Ratification of Appointment of Ernst & Young LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending December 31, 2023 at the 2023-12-31 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-12-31
Exact text from the filing
Ratification of Appointment of Ernst & Young LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending December 31, 2023 250,290,169 28,770 94,563 N/A
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Leonardo DRS, Inc. shareholders approved Advisory Resolution Regarding Compensation of the Company’s NEOs.
- Proposal
- say on pay
- Outcome
- passed
Exact text from the filing
Advisory Resolution Regarding Compensation of the Company’s NEOs 240,756,219 3,875,891 147,953 5,633,439
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Leonardo DRS, Inc. shareholders approved Approval of Amendment to the Company’s Charter to Reflect New DGCL Provisions Regarding Officer Exculpation.
- Proposal
- charter amendment
- Outcome
- passed
Exact text from the filing
Approval of Amendment to the Company’s Charter to Reflect New DGCL Provisions Regarding Officer Exculpation 218,527,817 26,152,193 100,053 5,633,439
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Leonardo DRS, Inc. shareholders approved Advisory Proposal Regarding the Frequency of Stockholder Advisory Vote on the Compensation of the Company’s Named Executive Officers.
- Proposal
- say on pay frequency
- Outcome
- passed
Exact text from the filing
Shares Voted for One-Year Shares Voted for Two-Years Shares Voted for Three-Years Abstentions Broker Non-Votes Advisory Proposal Regarding the Frequency of Stockholder Advisory Vote on the Compensation of the Company’s Named Executive Officers (“NEOs”) 243,324,787 530,657 859,319 65,300 5,633,439
View on SEC.gov
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