Eastman Announces 2022 Annual Meeting Stockholder Vote Results

Rhea-AI Summary

At the annual meeting of Eastman Chemical Company (NYSE:EMN), shareholders reelected directors, approved executive compensation, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2022. However, a proposal to lower the ownership threshold for calling special meetings from 25% to 10% was rejected. The proxy statement detailing these actions is available for investors. Eastman, founded in 1920, reported approximately $10.5 billion in revenue for 2021 and employs about 14,000 people globally, focusing on innovation and sustainability.

Positive

• Directors reelected for one-year terms, ensuring continuity in leadership.
• Executive compensation approved, indicating shareholder satisfaction with management performance.
• Appointment of PricewaterhouseCoopers LLP as auditors ratified, ensuring independent oversight.

Negative

• Proposal to reduce ownership threshold for special meetings rejected, limiting shareholder influence.

KINGSPORT, Tenn.--(BUSINESS WIRE)-- At the Eastman Chemical Company (NYSE:EMN) annual meeting, stockholders:

• reelected directors Humberto P. Alfonso, Brett D. Begemann, Mark J. Costa, Edward L. Doheny II, Julie F. Holder, Renée J. Hornbaker, Kim Ann Mink, James J. O’Brien, David W. Raisbeck, and Charles K. Stevens III to one-year terms;

• approved, on an advisory basis, the compensation of the company’s executive officers as disclosed in the annual meeting proxy statement (the “say-on-pay” vote);

• ratified the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2022; and

• rejected an advisory stockholder proposal requesting that the Board of Directors take steps necessary to reduce from 25% to 10% the ownership threshold required for stockholders to call special meetings of stockholders.

Additional information about each of the matters acted upon by stockholders at the annual meeting is in the proxy statement that was furnished to stockholders in connection with the meeting. The proxy statement is also available at investors.eastman.com, Annual Meeting. The final vote totals for the matters acted upon by stockholders at the annual meeting will be reported in a Form 8-K filing with the SEC and also posted on investors.eastman.com.

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenue of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220505006076/en/

Media: Tracy Kilgore Addington

423-224-0498 / tracy@eastman.com

Investors: Greg Riddle

212-835-1620 / griddle@eastman.com

Source: Eastman Chemical Company

FAQ

What were the outcomes of the Eastman Chemical Company annual meeting in 2022?

Shareholders reelected directors, approved executive compensation, ratified auditors, and rejected a proposal to lower the ownership threshold for special meetings.

Who were reelected as directors at Eastman Chemical Company?

Directors reelected include Humberto P. Alfonso, Brett D. Begemann, Mark J. Costa, and others.

What is the revenue of Eastman Chemical Company for 2021?

Eastman Chemical Company reported approximately $10.5 billion in revenue for 2021.

Who was appointed as independent auditors for Eastman Chemical Company in 2022?

PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2022.

What was the advisory stockholder proposal related to at Eastman Chemical Company's annual meeting?

The proposal requested reducing the ownership threshold from 25% to 10% for stockholders to call special meetings, which was rejected.