Unitil Shareholders Elect Directors at Annual Meeting

Rhea-AI Summary

On April 26, 2023, Unitil Corporation (NYSE: UTL) conducted its Annual Meeting of Shareholders in Hampton, New Hampshire. Key outcomes included the re-election of four directors for three-year terms and one director for a two-year term. Shareholders ratified Deloitte & Touche, LLP as independent accountants for 2023, with 97% approval for the advisory vote on executive compensation, set to occur annually. Chairman Thomas P. Meissner, Jr. discussed 2022 highlights and the Clean Energy Transition strategy aimed at sustainable value. Unitil serves approximately 108,100 electric and 87,500 natural gas customers across New England.

Positive

• 97% shareholder approval for executive compensation advisory vote indicates strong confidence in management.
• Re-election of directors suggests stability and continuity in leadership.

Negative

• None.

HAMPTON, N.H., April 26, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) held its Annual Meeting of Shareholders today at the corporate office in Hampton, New Hampshire. Shareholders elected Neveen F. Awad, Winfield S. Brown, Mark H. Collin and Michael B. Green to the Board of Directors each for a term of three years, and elected Anne L. Alonzo to the Board of Directors for an initial term of two years. Shareholders also ratified the selection of Deloitte & Touche, LLP as independent registered public accountants for 2023.  

Additionally, the required shareholder advisory vote concerning executive compensation, also known as “say on pay,” was approved by 97% of shareholders, and the required shareholder advisory vote concerning the frequency of future advisory votes on executive compensation, also known as “say on pay frequency,” was approved to occur at an annual frequency.

Following the business of the formal meeting, Thomas P. Meissner, Jr., Unitil's Chairman, Chief Executive Officer and President, presented highlights from 2022 as well as a strategic look at the Clean Energy Transition and creating long-term sustainable value. Mr. Meissner's presentation is available in the Investor Relations section of the Company’s website at investors.unitil.com.

About Unitil Corporation

Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, our operating utilities serve approximately 108,100 electric customers and 87,500 natural gas customers. For more information about our people, technologies, and community involvement please visit unitil.com.  

This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. All statements, other than statements of historical fact, are forward-looking statements. Certain factors that could cause the actual results to differ materially from those projected in these forward-looking statements include, but are not limited to the following: variations in weather; changes in the regulatory environment; customers' preferences on energy sources; general economic conditions; increased competition; fluctuations in supply, demand, transmission capacity and prices for energy commodities; and other uncertainties, all of which are difficult to predict, and many of which are beyond the control of Unitil Corporation.

For more information please contact:

Todd Diggins – Investor Relations
Phone: 603-773-6504
Email: diggins@unitil.com

Alec O’Meara – Media Relations                                                                                               
Phone: 603-773-6404                                
Email: omeara@unitil.com

FAQ

What were the results of Unitil Corporation's Annual Meeting of Shareholders on April 26, 2023?

Shareholders elected four directors for three-year terms and one for two years, and ratified Deloitte & Touche as independent accountants for 2023.

What percentage of shareholders approved the advisory vote on executive compensation at Unitil?

97% of shareholders approved the advisory vote on executive compensation.

What is Unitil Corporation's ticker symbol?

Unitil Corporation's ticker symbol is UTL.

How many customers does Unitil serve in New England?

Unitil serves approximately 108,100 electric customers and 87,500 natural gas customers.

What topics did Unitil's Chairman discuss during the meeting?

Chairman Thomas P. Meissner, Jr. highlighted 2022 performance and the company's strategy for the Clean Energy Transition.