Ballard Announces Results of Annual General Meeting

Rhea-AI Summary

Ballard Power Systems (NASDAQ: BLDP) held its 2021 Annual General Meeting virtually on June 2, 2021, where all director nominees received majority support from shareholders. Douglas P. Hayhurst was re-elected with 95.02% support, while Randy MacEwen and Marty Neese also had strong backing, garnering 98.52% and 98.37% respectively. KPMG LLP was appointed as the company’s auditor, and shareholder votes approved executive compensation plans with 86.52% in favor. The final voting results will be filed on SEDAR.

Positive

• All director nominees elected with strong majority support.
• KPMG LLP appointed as auditor, indicating confidence in financial oversight.
• Executive compensation plans received 86.52% approval from shareholders.

Negative

• One nominee, Kui Jiang, had only 66.03% votes in favor, indicating some shareholder dissent.

VANCOUVER, BC, June 3, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced results of its 2021 Annual General Meeting, which was held yesterday as a virtual event.

All nominees listed in the Management Proxy Circular dated April 12^th, 2021 were elected as directors of the Company. Each of the Ballard directors was re-elected by a majority of the votes cast by shareholders present or represented by proxy. Director biographies are available in the "Our Leadership" section of the Company's website.

Director Nominee	Votes For	% For	Votes Withheld	% Withheld
Douglas P. Hayhurst	124,078,002	95.02	6,505,681	4.98
Kui (Kevin) Jiang Duy-Loan Le	86,229,791 125,979,546	66.03 96.47	44,353,892 4,604,137	33.97                3.53
Randy MacEwen	128,650,412	98.52	1,933,271	1.48
Marty Neese	128,456,264	98.37	2,127,419	1.63
James Roche Shaojun (Sherman) Sun	128,835,707  98,420,556	98.66 75.37	1,747,976 32,163,127	1.34               24.63
Janet Woodruff	122,745,293	94.00	7,838,390	6.00

In addition, KPMG LLP, Chartered Accountants, was appointed as auditor for the Company, an advisory vote approved the approach to executive compensation, and equity-based compensation plans were approved, as disclosed in the Company's Management Proxy Circular.

Item	For		% For		Against		% Against		Withheld		% Withheld
Appointment of Auditors	138,230,488		92.67		-		-		10,929,918		7.33
Executive Compensation	112,979,427		86.52		17,604,256		13.48		-		-
Equity-based Compensation Plans	96,526,416		73.92		34,056,468		26.08		-		-

Final voting results on all matters voted on at the Annual General Meeting held on June 2^nd, 2021 will be filed on SEDAR (www.sedar.com).  

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks. To learn more about Ballard, please visit www.ballard.com.

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SOURCE Ballard Power Systems Inc.

FAQ

What were the results of Ballard Power Systems' 2021 Annual General Meeting?

The meeting confirmed all director nominees and approved the appointment of KPMG LLP as auditor.

Who were re-elected as directors at Ballard's 2021 AGM?

Douglas P. Hayhurst, Randy MacEwen, and Marty Neese were among those re-elected.

What percentage of votes approved executive compensation at Ballard Power Systems?

Executive compensation plans were approved with 86.52% of votes in favor.

How did Kui Jiang perform in the vote at the AGM?

Kui Jiang received 66.03% of votes in favor, indicating dissent among some shareholders.