Bank of America Says 94% Of Shareholders Voted In Favor Of Its Nominee Directors

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Bank of America Corp
BAC
disclosed the preliminary results of matters voted upon at the its 2016 annual meeting of stockholders. Accordingly, the company indicated that its 13 board of director nominations got elected. The financial firm said that a minimum of 94% of the shareholders voted in favor of each director. Similarly, its management advisory proposal on executive compensation, as well as, the appointment of its independent accounting firm proposal got the approval of its shareholders with approximately 93 percent and 98 percent of the vote in favor, respectively. Bank of America said that the lone shareholder proposal that sought to amend the clawback feature of its executive compensation program was not approved. That was because about 94 percent of the vote opposed the measure. The company stated that the results were considered preliminary, with final figures reported on a Form 8-K to be filed with the SEC. On Wednesday, the stock advanced 0.3%.
Posted In: NewsPress Releases
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