Suncor Energy reports voting results from Annual Meeting

Rhea-AI Summary

Suncor held its Annual Meeting in Calgary, with approximately 1.05 billion shares represented, accounting for 68.83% of outstanding common shares. Shareholders voted overwhelmingly in favor of eleven board members, with Patricia M. Bedient receiving 99.78% support. KPMG LLP was appointed as auditors, and a resolution to increase stock options by 15 million shares gained 90.24% approval. Management’s executive compensation plan was also approved with 93.03% in favor. Suncor continues to be a leader in integrated energy, focusing on responsible petroleum development and renewable energy growth.

Positive

• Strong shareholder participation with 1.05 billion shares represented.
• Board elections were overwhelmingly approved, indicating strong investor confidence.
• Increase in stock options will potentially enhance employee incentives and align interests.
• Management's compensation plan received significant approval, suggesting investor alignment with management.

Negative

• None.

CALGARY, Alberta, May 04, 2021 (GLOBE NEWSWIRE) -- Suncor held its Annual Meeting in Calgary today. A total of approximately 1.05 billion shares (approximately 68.83% of outstanding common shares) were represented in person or by proxy.

Shareholders voted as follows on the matters before the meeting:

1. Shareholders elected the following eleven board members (ten of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows:

	Patricia M. Bedient	99.78%
	John D. Gass	98.13%
	Russell Girling	99.70%
	Jean Paul Gladu	98.78%
	Dennis M. Houston	98.66%
	Mark S. Little	99.69%
	Brian P. MacDonald	99.70%
	Maureen McCaw	98.50%
	Lorraine Mitchelmore	99.84%
	Eira M. Thomas	97.14%
	Michael M. Wilson	97.85%

2. Shareholders appointed KPMG LLP as Suncor’s auditors.
    
3. The resolution to increase the number of common shares of Suncor reserved for issuance pursuant to the Suncor Energy Inc. Stock Option Plan by an additional 15,000,000 common shares was approved with 90.24% of shares represented at the meeting voting in favour.
    
4. Management’s approach to executive compensation (say on pay) disclosed in Suncor’s management proxy circular dated February 24, 2021 was approved with 93.03% of shares represented at the meeting voting in favour.

Note: the biographies of Board members and further details about Suncor’s corporate governance practices are available at suncor.com.

The text of remarks by Mark Little, president and chief executive officer, and Alister Cowan, chief financial officer, are available at suncor.com/speeches.

An archive of the webcast of the meeting will be available for the next 90 days at suncor.com/webcasts.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor or Living our Purpose.

Media inquiries:
1-833-296-4570
media@suncor.com

Investor inquiries:
1-800-558-9071
invest@suncor.com

FAQ

What was the outcome of Suncor's Annual Meeting held on May 4, 2021?

Suncor's Annual Meeting resulted in the election of eleven board members, appointment of KPMG LLP as auditors, approval for increasing stock options by 15 million shares, and management's compensation plan.

How many shares were represented at Suncor's Annual Meeting?

Approximately 1.05 billion shares were represented at Suncor's Annual Meeting, which is about 68.83% of the outstanding common shares.

What percentage of votes supported the increase in Suncor's stock options?

The resolution to increase Suncor's stock options by 15 million shares was approved with 90.24% of the shares represented voting in favor.

Who were elected as board members at Suncor's Annual Meeting?

The board members elected included Patricia M. Bedient, John D. Gass, Russell Girling, and others, with Patricia M. Bedient receiving the highest approval at 99.78%.