Activision Blizzard Announces Results of Annual Meeting; Stockholders Approve Nominees to Board of Directors

Rhea-AI Summary

Activision Blizzard (NASDAQ: ATVI) held its 2022 Annual Meeting of Stockholders virtually, with 647,887,763 votes represented, marking 82.9% of total shares. All director nominees, including Lulu Cheng Meservey and Kerry Carr, were reelected with an average of 91% approval. Executive compensation received 88% support, and PwC was ratified as the independent auditor with 97% approval. A stockholder proposal for an employee representative director was rejected by 95%. However, 67% voted in favor of a report on workplace efforts. Results will be certified and reported in a Form 8-K.

Positive

• Reelection of all director nominees, including two new diverse members, enhancing board representation.
• 88% support for executive compensation demonstrates shareholder confidence.
• 97% approval of PwC as auditor reflects trust in financial oversight.

Negative

• 95% of votes against the proposal for an employee representative may signal shareholder concerns regarding employee representation.
• 67% support for workplace report indicates potential transparency issues in current disclosures.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Activision Blizzard, Inc. (NASDAQ: ATVI) today announced that it convened its 2022 Annual Meeting of Stockholders (the “Annual Meeting”) as scheduled and considered and voted upon all items of business. The Annual Meeting was held virtually and a total of 647,887,763 votes were represented in person or by proxy, constituting approximately 82.9% of the Company’s total issued and outstanding common shares as of the record date.

Of the matters presented for stockholder vote, the Chairman and all other director nominees were reelected by an average of approximately 91% of the voting shares, for a term of office extending until the end of the next Annual Meeting. This includes the reelection of Lulu Cheng Meservey who was appointed to the Board in April 2022, and the election of Kerry Carr. Both Ms. Meservey and Ms. Carr are accomplished leaders and their election to the Board underscores the Company’s commitment to broadening the skills, experiences, and diverse backgrounds of our directors. As announced previously, Hendrik J. Hartong III and Casey Wasserman chose not to stand for reelection. The Board of Directors and Leadership Team at Activision Blizzard are thankful to Mr. Hartong and Mr. Wasserman for their commitment to the Company and invaluable strategic leadership and counsel over the years.

• Approximately 88% of the voting shares approved the Company’s executive compensation.
• Approximately 97% of the voting shares ratified the appointment of PwC as the Company’s independent registered public accounting firm.
• Approximately 95% of voting shares voted against the non-binding stockholder proposal regarding the nomination of an employee representative director.

In addition, approximately 67% of the voting shares voted in favor of the non-binding stockholder proposal regarding the preparation of a report about the Company’s efforts in the workplace. Consistent with our ongoing commitments, we will carefully consider the proposal to enhance our future disclosures. Activision Blizzard remains deeply committed to a respectful, welcoming workplace for all colleagues. We believe that transparency with our stakeholders is critical to our commitment to the very best governance practices. The Board greatly values our stockholders’ perspectives.

The complete results of the Annual Meeting will be reported in a Form 8-K to be filed with the U.S. Securities and Exchange Commission in the coming days, after certification by Activision Blizzard’s Inspector of Election.

About Activision Blizzard

Our mission, to connect and engage the world through epic entertainment, has never been more important. Through communities rooted in our video game franchises, we enable hundreds of millions of people to experience joy, thrill and achievement. We enable social connections through the lens of fun, and we foster purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive gaming. Video games, unlike any other social or entertainment media, have the ability to break down the barriers that can inhibit tolerance and understanding. Celebrating differences is at the core of our culture and ensures we can create games for players of diverse backgrounds in the 190 countries our games are played.

As a member of the Fortune 500 and as a component company of the S&P 500, we have an extraordinary track record of delivering superior shareholder returns for over 30 years.

Our enduring franchises are some of the world’s most popular, including Call of Duty®, Crash Bandicoot™, Warcraft®, Overwatch®, Diablo®, StarCraft®, Candy Crush™, Bubble Witch™, Pet Rescue™ and Farm Heroes™. Our sustained success has enabled the company to support corporate social responsibility initiatives that are directly tied to our franchises. As an example, our Call of Duty Endowment has helped find employment for over 100,000 veterans.

Learn more information about Activision Blizzard and how we connect and engage the world through epic entertainment on the company's website, www.activisionblizzard.com.

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Source: Activision Blizzard, Inc.

FAQ

What were the main outcomes of Activision Blizzard's 2022 Annual Meeting?

All director nominees were reelected, with strong support for executive compensation and auditor ratification.

Who were the new board members elected during the meeting?

Lulu Cheng Meservey and Kerry Carr were elected, emphasizing the board's focus on diversity.

How did shareholders react to the executive compensation proposal?

Approximately 88% of voting shares approved the executive compensation.

What was the response to the employee representative director proposal at the meeting?

95% of voting shares voted against the non-binding proposal.

What does the 67% support for the workplace report proposal indicate?

It suggests shareholders are interested in greater transparency about workplace efforts.