AvalonBay Communities, Inc. Announces Voting Results of Annual Meeting of Stockholders

Strategic Insights -

At the annual meeting held on May 19, 2022, AvalonBay Communities, Inc. shareholders voted on various matters, including the election of directors, executive compensation, and the appointment of independent auditors. The results of the voting are as follows.

Shareholders re-elected twelve directors to serve until the 2023 Annual Meeting of Stockholders and until their successors are elected and qualified. The nominees for director were listed in the proxy statement, and each share of common stock was entitled to one vote with respect to the matter.

Shareholders also approved, on a non-binding, advisory basis, the compensation paid to the Company's named executive officers as disclosed pursuant to Item 402 of Regulation S-K. The voting results showed that 114,949,782 votes were cast in favor of approval, 6,367,584 votes were cast against, and there were 282,032 abstentions. Additionally, 5,414,742 broker non-votes were reported with respect to this proposal.

The shareholders also ratified the appointment of Ernst & Young LLP as the Company's independent auditors for fiscal year 2022. The voting results showed that 122,746,120 votes were cast in favor of ratifying the appointment, 4,219,751 votes were cast against, and there were 48,269 abstentions. No broker non-votes were reported for this proposal.

Key Takeaways:

  • Shareholders re-elected twelve directors to serve until the 2023 Annual Meeting of Stockholders.
  • 114,949,782 votes were cast in favor of approving the compensation paid to the Company's named executive officers.
  • 6,367,584 votes were cast against the compensation paid to the Company's named executive officers.
  • 282,032 abstentions were reported with respect to the executive compensation proposal.

Statistics:

  • 114,949,782 votes were cast in favor of approving the executive compensation proposal.
  • 6,367,584 votes were cast against the executive compensation proposal.
  • 122,746,120 votes were cast in favor of ratifying the appointment of Ernst & Young LLP as the independent auditors.
  • 4,219,751 votes were cast against ratifying the appointment of Ernst & Young LLP as the independent auditors.

Sources:

  • AvalonBay Communities, Inc. (2022) - Maryland report (Form 8-K)