ANNUAL MEETING: Facebook Reveals Final Vote Counts In Form 8-K Filing With SEC

By David Cohen 

BallotBox650Facebook filed a Form 8-K with the Securities and Exchange Commission last Friday, detailing the final voting tallies from its annual meeting last Thursday at the Sofitel San Francisco Bay in Redwood City, Calif.

All of the votes last Thursday went Facebook’s way, and here are the final results.

Facebook’s current board of directors was re-elected to continue serving through the 2015 annual meeting. The two most visible members of the company’s board — Co-Founder and CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg — received the fewest votes. The total number of votes received by each board member was:

  1. Peter Thiel: 5,972,880,935 votes for, 20,073,319 withheld.
  2. Reed Hastings: 5,964,623,829 votes for, 28,330,425 withheld.
  3. Susan Desmond-Hellmann: 5,960,315,861 votes for, 32,638,393 withheld.
  4. Erskine Bowles: 5,945,215,302 votes for, 47,738,952 withheld.
  5. Donald Graham: 5,934,835,243 votes for, 58,119,011 withheld.
  6. Marc Andreessen: 5,797,655,031 votes for, 195,299,223 withheld.
  7. Zuckerberg: 5,650,907,180 votes for, 342,047,074 withheld.
  8. Sandberg: 5,650,263,084 votes for, 342,691,170 withheld.

The appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31 was ratified, with 6,384,751,471 votes for, 31,118,157 votes against, and 6,850,150 abstentions.

And the following stockholder proposals were rejected:

  • Altering stockholder voting so that all shares of outstanding stock will be limited to one vote per share: 4,941,926,221 votes against, 1,028,379,452 votes for, 22,648,581 abstentions.
  • Full disclosure of Facebook’s lobbying efforts: 5,336,206,217 votes against, 475,923,701 votes for, 180,824,336 abstentions.
  • Facebook’s board of directors should create and implement a policy of corporate values regarding electioneering contribution decisions by the company and fbPAC and report to shareholders on contributions that fall outside that policy: 5,906,392,724 votes against, 33,270,856 votes for, 53,290,674 abstentions.
  • The board of directors should issue a report and risk evaluation on whether Facebook’s advertising and privacy policies are sufficient to protect the company’s finances and operations from public concerns about childhood obesity and public and private initiatives to eliminate or restrict food marketing to youth: 5,734,903,806 votes against, 44,327,022 votes for, 213,723,426 abstentions.
  • Facebook should issue an annual sustainability report describing the company’s short- and long-term responses to environmental, social, and governance issues by October: 5,458,128,003 votes against, 340,378,446 votes for, 194,447,805 abstentions.

Readers: Did any of the final voting tallies from Facebook’s annual meeting surprise you? Why do you think Zuckerberg and Sandberg received the fewest votes of the eight board members?

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