Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
The purpose of the 2023 Plan is to foster and promote the long-term financial success of the Corporation and increase stockholder value by: (i) strengthening the Corporation's capability to develop, maintain, and direct an outstanding management team; (ii) motivating superior performance by means of long-term performance-based incentives; (iii) encouraging and providing a means for obtaining an ownership interest in the Corporation; (iv) attracting and retaining outstanding talent by providing incentive compensation opportunities competitive with other major companies; and (v) enabling award recipients to participate in the long-term growth and financial success of the Corporation.
Under the 2023 Plan, the Corporation may grant stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, other share-based awards, performance awards or any other right, interest or option relating to shares of the Corporation or other property (including cash) granted pursuant to the provisions of the 2023 Plan. Subject to the terms and conditions of the 2023 Plan, the number of shares authorized for grants under the 2023 Plan is 4,650,000, reduced by one share for every one share subject to stock options or stock appreciation rights granted under the 2023 Plan and by 2.5 shares for every one share subject to awards other than stock options or stock appreciation rights granted under the 2023 Plan.
This summary is qualified in its entirety by reference to the 2023 Plan, filed as Exhibit 10.1 attached hereto and incorporated by reference herein.
Item 5.07. Submission of Matters to a Vote of Security Holders.
On
a.
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Nominees For Against Abstain Broker Non-Votes Samuel R. Allen 35,569,625 6,306,059 89,550 4,884,101 Marc R. Bitzer 39,054,231 2,751,938 159,065 4,884,101 Greg Creed 40,722,274 1,145,789 97,171 4,884,101 Diane M. Dietz 41,007,376 870,095 87,763 4,884,101 Gerri T. Elliott 41,132,615 741,073 91,546 4,884,101 Jennifer A. LaClair 40,135,631 1,738,987 90,616 4,884,101 John D. Liu 40,441,865 1,416,857 106,512 4,884,101 James M. Loree 41,108,197 760,826 96,211 4,884,101 Harish Manwani 39,203,480 2,654,072 107,682 4,884,101 Patricia K. Poppe 40,108,907 1,751.823 104,504 4,884,101 Larry O. Spencer 40,089,330 1,770,820 105,084 4,884,101 Michael D. White 38,438,980 3,412,020 114,234 4,884,101
b. The stockholders approved, on an advisory (non-binding) basis, the compensation paid to the Corporation's named executive officers disclosed in the Proxy Statement, including the Compensation Discussion & Analysis, the compensation tables and related disclosure.
For Against Abstain Broker Non-Votes 38,945,450 2,857,114 162,670 4,884,101
c. The stockholders voted, on an advisory (non-binding) basis, on the frequency with which the Corporation should hold future advisory votes on executive compensation. Consistent with a majority of the votes cast with respect to this proposal and with the recommendation of the Corporation's Board of Directors, the Corporation will hold a stockholder advisory vote on the compensation of the Corporation's named executive officers annually until the next required vote on the frequency of stockholder votes on the compensation of the Corporation's named executive
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officers as required pursuant to Section 14(A) of the Securities and Exchange act of 1934, as amended, and the rules and regulations promulgated thereunder.
1 Year 2 Years 3 Years Abstain Broker Non-Votes 39,862,645 164,412 1,847,777 90,400 4,884,101
d. The stockholders ratified the appointment of
For Against Abstain 45,153,189 1,587,022 109,124 e. The stockholders approved theWhirlpool Corporation 2023 Omnibus Stock and Incentive Plan. For Against Abstain Broker Non-Votes 38,475,821 3,301,778 187,635 4,884,101
Item 9.01. Financial Statements and Exhibits.
(d): The following exhibits are being filed herewith: Exhibit No. Exhibit 10.1Whirlpool Corporation 2023 Omnibus Stock and Incentive Plan
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