secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2025-05-13T23:59:59+00:00
Accession:  0001628280-25-025065
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific say-on-pay fails; shareholders approve 48M share incentive plan
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- Say-on-pay vote fails with 113.6M against vs 70.4M for (61% opposed); non-binding but strong shareholder disapproval.
- Stockholders approve increase in 2024 Stock Incentive Plan share reserve to 48 million shares (from prior limit).
- Annual Meeting adjourned for proposals 4–6 (charter amendments to declassify board, remove supermajority, eliminate creditor consent); reconvenes May 23.
- Adam Sullivan elected director with 178.6M votes for; KPMG ratified as auditor for FY2025.
- Advisory vote on frequency: 1 year selected; board will hold annual say-on-pay votes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025025065/0001628280-25-025065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025025065/core-20250512.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-025065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer