Kohl’s Corporation Holds Annual Shareholders Meeting

Rhea-AI Summary

Kohl’s (NYSE: KSS) held its annual shareholders meeting in Menomonee Falls, Wis. Shareholders elected eleven board members, including Wendy Arlin and Michael J. Bender, with an average approval rate of over 96%. The advisory vote to approve executive compensation received over 92% support. The appointment of Ernst & Young LLP as the independent auditor for 2024 was ratified with more than 94% approval. Shareholders approved the 2024 Long-Term Compensation Plan by over 93%. However, a proposal for a Corporate Financial Sustainability Report was rejected, receiving less than 6% support. Final results will be filed on Form 8-K.

Positive

• Eleven board members elected with over 96% approval.
• Executive compensation approved by 92% of shareholders.
• Ernst & Young LLP reappointed as independent auditor with 94% approval.
• 2024 Long-Term Compensation Plan approved by 93% of shareholders.

Negative

• Shareholder proposal for Corporate Financial Sustainability Report was rejected, receiving less than 6% support.

MENOMONEE FALLS, Wis.--(BUSINESS WIRE)-- Kohl’s Corporation (NYSE:KSS) (“Kohl’s” or the “Company”) today held its annual shareholders meeting. Following are the preliminary results for the five proposals voted upon by shareholders:

1. Kohl’s shareholders elected Wendy Arlin, Michael J. Bender, Yael Cosset, Christine Day, H. Charles Floyd, Thomas A. Kingsbury, Robbin Mitchell, Jonas Prising, John E. Schlifske, Adrianne Shapira, and Adolfo Villagomez to the board of directors for one-year terms, with an average vote in favor of more than 96 percent of the votes cast;
2. The advisory vote to approve the compensation of Kohl’s named executive officers received more than 92 percent of the votes cast;
3. The proposal to ratify the appointment of Ernst & Young LLP as Kohl’s independent registered public accounting firm for fiscal year 2024 received more than 94 percent of the votes cast;
4. Kohl’s shareholders voted to approve the Kohl’s Corporation 2024 Long-Term Compensation Plan, which received a vote in favor of more than 93 percent of the votes cast; and
5. Kohl’s shareholders voted against a shareholder proposal around the company’s Corporate Financial Sustainability Report, with a vote in favor of less than six percent of the votes cast.

Final results will be reported on a current report on Form 8-K.

About Kohl’s

Kohl’s (NYSE: KSS) is a leading omnichannel retailer built on a foundation that combines great brands, incredible value and convenience for our customers. Kohl's serves millions of families in our more than 1,100 stores in 49 states, online at Kohls.com, and through our Kohl's App. For a list of store locations or to shop online, visit Kohls.com. For more information about Kohl’s impact on the community or how to join our winning team, visit Corporate.Kohls.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515277123/en/

Investor Relations:

Mark Rupe, (262) 703-1266, mark.rupe@kohls.com

Media:

Jen Johnson, (262) 703-5241, jen.johnson@kohls.com

Source: Kohl's

FAQ

What were the results of Kohl's 2024 Long-Term Compensation Plan vote?

The 2024 Long-Term Compensation Plan was approved by more than 93% of the votes cast.

What percentage of votes supported the executive compensation at Kohl's annual meeting?

Over 92% of the votes cast supported the executive compensation.

Who was reappointed as Kohl's independent auditor for the fiscal year 2024?

Ernst & Young LLP was reappointed as Kohl's independent auditor with more than 94% approval.

How did shareholders vote on the Corporate Financial Sustainability Report proposal at Kohl's meeting?

The proposal for the Corporate Financial Sustainability Report was voted down with less than 6% in favor.

What was the approval rate for the elected board members at Kohl's annual meeting?

The elected board members received an average vote in favor of more than 96% of the votes cast.