Walmart Announces 2023 Annual Shareholders’ Meeting Voting Results
Walmart Inc. (NYSE: WMT) today announced shareholder voting
results for its Annual Shareholders’ Meeting, which was conducted
virtually. Approximately 90.8 percent of all outstanding shares
were represented at the meeting.
In his introductory remarks, Walmart Inc. President and CEO Doug
McMillon spoke about Walmart’s performance over the last year,
noting, “We have a strong team of associates, very capable leaders
and a compelling set of assets and capabilities that enable us to
continue delivering for customers and members, whenever and however
they want to be served in that moment.”
McMillon also highlighted recent investments the company has
made in its associates, saying, “We work to create a path of
opportunity for everyone who wants a career at Walmart. We continue
to support and invest in our associates through their wages;
benefits including healthcare and ways to invest and save for
retirement; and by making it easier to gain a college degree or
certificate through our Live Better U program, where our company
pays for tuition and books.”
The company reported that shareholders approved the election of
each of Walmart’s 11 director nominees. Each director nominee
received affirmative votes from approximately 95.7 percent or more
of the shares voted, excluding abstentions and broker non-votes, as
follows (all percentages are rounded):
Timothy P. Flynn
Sarah J. Friar
Carla A. Harris
Thomas W. Horton
Marissa A. Mayer
C. Douglas McMillon
Gregory B. Penner
Randall L. Stephenson
S. Robson Walton
Steuart L. Walton
Shareholders voted on a non-binding, advisory basis, to include
“say-on-pay” votes (such as Proposal No. 3 in the 2023 Proxy
Statement) every year with approximately 99.1 percent of the
participating shares voting in favor. The Board of Directors had
recommended that shareholders vote in favor of holding a say-on-pay
vote every year.
Shareholders voted to approve, on a non-binding, advisory basis,
the compensation of Walmart’s named executive officers described in
Walmart’s 2023 Proxy Statement, with approximately 79.4 percent of
the participating shares voting in favor of this proposal. The
Board of Directors had recommended a vote for this proposal.
Shareholders also ratified the appointment of Ernst & Young
LLP as Walmart’s independent accountants, with affirmative votes
from approximately 98.3 percent of the shares voted. The Board of
Directors had recommended a vote for this proposal.
Each of the nine shareholder proposals that were presented
during the meeting failed to receive affirmative votes from a
majority of the total shares that were voted, and accordingly, did
- Policy Regarding Worker Pay in Executive Compensation: Received
approximately 4.3 percent of the shares that were voted.
- Report on Human Rights Due Diligence: Received approximately
5.7 percent of the shares that were voted.
- Racial Equity Audit: Received approximately 18.1 percent of the
shares that were voted.
- Racial and Gender Layoff Diversity Report: Received
approximately 1.4 percent of the shares that were voted.
- Request to Require Shareholder Approval of Certain Future Bylaw
Amendments: Received approximately 5.6 percent of the shares that
- Report on Reproductive Rights and Data Privacy: Received
approximately 5.2 percent of the shares that were voted.
- Communist China Risk Audit: Received approximately 1.3 percent
of the shares that were voted.
- Workplace Safety & Violence Review: Received approximately
23.8 percent of the shares that were voted.
- Limiting Political Contributions Made By WALPAC: Received less
than 0.01 percent of the shares that were voted.
The official voting results for each item voted on by
shareholders will be disclosed in a report to be filed with the
Securities and Exchange Commission.
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered
omnichannel retailer helping people save money and live better -
anytime and anywhere - in stores, online, and through their mobile
devices. Each week, approximately 240 million customers and members
visit more than 10,500 stores and numerous eCommerce websites in 20
countries. With fiscal year 2023 revenue of $611 billion, Walmart
employs approximately 2.1 million associates worldwide. Walmart
continues to be a leader in sustainability, corporate philanthropy,
and employment opportunity. Additional information about Walmart
can be found by visiting corporate.walmart.com, on Facebook at
facebook.com/walmart, on Twitter at twitter.com/walmart, and on
LinkedIn at linkedin.com/company/walmart.
version on businesswire.com: https://www.businesswire.com/news/home/20230531005993/en/
Media Relations Contact Marci Burks 800-331-0085
Investor Relations Contact Steph Wissink
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