Alliance Entertainment’s stockholders re-elected Bruce Ogilvie and Jeffrey Walker to the board at the company’s November 5 annual meeting, approved executive compensation in a nonbinding vote and favored holding that compensation vote every three years. The board adopted the three-year schedule, which will remain in place until stockholders vote on frequency again or the board decides to change it.
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Board elections: Ogilvie and Walker were elected to three-year terms ending at the 2029 annual meeting. Ogilvie received 106.0 million votes in favor and 1.9 million withheld; Walker received 106.0 million in favor and 1.9 million withheld.
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Executive compensation: Stockholders approved the company’s executive pay in an advisory vote, with 107.3 million votes in favor, 615,056 against and 9,503 abstentions.
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Frequency of pay votes: A three-year interval received 71.2 million votes, compared with 36.2 million for annual votes and 366,205 for every two years. The result is advisory, but the board said it will hold the compensation vote every three years for now.
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Class E voting arrangement: Contingent Class E shares held in escrow are contractually required to vote in the same manner and proportion as Class A shares held by other investors. The reported totals include votes from both classes.
The executive-pay and vote-frequency decisions are advisory rather than binding. The director elections, by contrast, determine the board’s membership.