North American Construction Group Ltd. Announces Voting Results of Annual Meeting of Shareholders

Rhea-AI Summary

North American Construction Group (TSX:NOA/NYSE:NOA) announced the results of its Annual Meeting of Shareholders held on May 15, 2024. Shareholders elected directors and approved both KPMG LLP as independent auditors and a non-binding advisory vote on executive compensation. Key election results include Martin R. Ferron (99.27% for), Vanessa A. Guthrie (98.84% for), and Joseph C. Lambert (98.91% for). KPMG LLP's appointment received a 98.55% approval, and the non-binding advisory vote on executive compensation was approved with 84.95% in favor.

Positive

• All directors were elected with a high percentage of votes, the lowest being 92.01%.
• KPMG LLP was approved as the independent auditor with 98.55% in favor.
• A high percentage of shareholders (84.95%) approved the approach to executive compensation.

Negative

• The approval for the non-binding advisory vote on executive compensation, while positive, showed a relatively lower percentage (84.95%) compared to other votes.

ACHESON, Alberta, May 16, 2024 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA/NYSE:NOA) today announced the results of its Annual Meeting of Shareholders held on May 15, 2024. Shareholders elected directors, approved the appointment of KPMG LLP as the independent auditors of the Company and approved a non-binding advisory vote regarding the Company’s approach to executive compensation. The following are the results of the votes held at the meeting:

		Outcome		Votes For		Withheld or Against
Election of Martin R. Ferron as director		Passed		99.27%		0.73%
Election of Vanessa A. Guthrie as director		Passed		98.84%		1.16%
Election of Joseph C. Lambert as director		Passed		98.91%		1.09%
Election of Bryan D. Pinney as director		Passed		99.21%		0.79%
Election of John J. Pollesel as director		Passed		99.89%		0.11%
Election of Maryse C. Saint-Laurent as director		Passed		92.01%		7.99%
Election of Thomas P. Stan as director		Passed		99.89%		0.11%
Election of Kristina E. Williams as director		Passed		98.62%		1.38%
Appointment of KPMG LLP as auditors of the Company for the ensuing year and the authorization of the directors to fix their remuneration		Passed		98.55%		1.45%
Approval of the non-binding advisory resolution to accept the approach to executive compensation disclosed in the management information circular delivered in advance of the meeting		Passed		84.95%		15.05%

About the Company

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Canada, the U.S. and Australia. For 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

For further information contact:
Jason Veenstra, CPA, CA
Chief Financial Officer
North American Construction Group Ltd.
(780) 960-7171
jveenstra@nacg.ca
www.nacg.ca

FAQ

What were the results of the North American Construction Group's 2024 Annual Meeting of Shareholders?

Shareholders elected all nominated directors, approved KPMG LLP as auditors, and approved the executive compensation approach.

What percentage of shareholders approved Martin R. Ferron as a director?

99.27% of shareholders approved Martin R. Ferron as a director.

How did shareholders vote on the appointment of KPMG LLP as auditors for NOA?

98.55% of shareholders voted in favor of appointing KPMG LLP as auditors.

Was the executive compensation approach approved at the NOA Annual Meeting?

Yes, 84.95% of shareholders approved the non-binding advisory vote on the executive compensation approach.

Who is one of the directors elected at NOA's 2024 Annual Meeting?

Martin R. Ferron was elected as a director with 99.27% of the vote.