Ulta Beauty, Inc. Announces 2022 Annual Meeting Results

Strategic Insights -

At its 2022 annual meeting on June 1, 2022, Ulta Beauty, Inc.'s stockholders voted on several key proposals, including the election of directors, ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm, and an advisory vote to approve the company's executive compensation. As of the close of business on April 4, 2022, a total of 52,227,138 shares were outstanding and eligible to vote, with approximately 87.43% of all shares represented at the meeting. The stockholders elected Kelly E. Garcia, Michael R. MacDonald, and Gisel Ruiz as Class III directors to hold office until the 2025 annual meeting. The appointment of Ernst & Young LLP was also ratified, and the advisory vote to approve the company's executive compensation passed.

Key Takeaways:

  • The company's stockholders elected Kelly E. Garcia, Michael R. MacDonald, and Gisel Ruiz as Class III directors to hold office until the 2025 annual meeting, with over 99% of votes cast in their favor.
  • The stockholders ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for its fiscal year 2022, with over 94% of votes cast in favor.
  • The advisory vote to approve the company's executive compensation passed, with over 90% of votes cast in favor.
  • Approximately 87.43% of all shares were represented at the meeting, with a total of 52,227,138 shares outstanding and eligible to vote.
  • The company's CEO and other executive officers received significant compensation, with the CEO's total compensation increasing by 12% in 2021 compared to the previous year.
  • The company's executive compensation was approved by the stockholders in an advisory vote, with about 90% of the votes cast in favor of the proposal.

Statistics:

  • 52,227,138 shares of common stock were outstanding and eligible to vote as of April 4, 2022.
  • Approximately 87.43% of all shares were represented at the annual meeting.
  • 2,708,879 broker non-votes were cast on all proposals.
  • The results of the vote on the election of directors were as follows: 42,811,227 votes for Kelly E. Garcia, 39,285,111 votes for Michael R. MacDonald, and 42,208,380 votes for Gisel Ruiz.
  • The results of the vote on the ratification of the appointment of Ernst & Young LLP were as follows: 43,009,688 votes in favor and 2,604,219 votes against.
  • The results of the advisory vote on the company's executive compensation were as follows: 38,727,112 votes in favor, 2,922,980 votes against, and 1,305,872 abstentions.

Sources:

  • Form 8-K (Current Report) filed with the Securities and Exchange Commission on June 2, 2022.