Walmart Announces 2024 Annual Shareholders’ Meeting Voting Results

Rhea-AI Summary

Walmart (NYSE: WMT) announced the results of its 2024 Annual Shareholders' Meeting. Approximately 91% of outstanding shares were represented. Brian Niccol, Chairman and CEO of Chipotle Mexican Grill, was elected to the Walmart Board of Directors. Each of Walmart's 11 director nominees received over 94% affirmative votes. Shareholders approved the compensation of Walmart’s named executive officers with 92.3% votes in favor and ratified Ernst & Young LLP as Independent Accountants with 98.2% votes. An advance notice proposal and seven shareholder proposals failed to pass. The official voting results will be filed with the SEC.

Positive

• 91% of outstanding shares were represented at the meeting.
• Brian Niccol, CEO of Chipotle, elected as Walmart Director with 99.8% votes.
• All 11 director nominees received over 94% affirmative votes.
• Shareholders approved executive compensation with 92.3% votes.
• Ernst & Young LLP ratified as Independent Accountants with 98.2% votes.

Negative

• None of the eight shareholder proposals passed.
• The advance notice proposal received less than 0.01% of the votes.
• Workplace Safety & Violence Review received only 19.1% votes.

Brian Niccol, Chairman and CEO of Chipotle Mexican Grill, Inc., elected as Director of Walmart Board

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (NYSE: WMT) today announced shareholder voting results for its Annual Shareholders’ Meeting, which was conducted virtually. Approximately 91% of all outstanding shares were represented at the meeting.

Greg Penner, Chairman, expressed his gratitude to Rob Walton, who retired effective as of today, for his more than 40 years of service on the Walmart Board of Directors. He emphasized the positive impact he’s had on associates and customers all around the world.

Doug McMillon, President and CEO, highlighted the company’s strong performance and position as a people-led, tech-powered omnichannel retailer. He expressed confidence, stating, “We continue to believe we can grow sales, grow profit faster than sales while delivering low prices and investing in our associates and improve our return on investment.”

The company reported shareholders approved the election of each of Walmart’s 11 director nominees, including Brian Niccol, Chairman and CEO of Chipotle Mexican Grill. Each director nominee received affirmative votes from 94% or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):

Director Nominee	For
Cesar Conde	99.6%
Timothy P. Flynn	98.9%
Sarah J. Friar	99.6%
Carla A. Harris	96.8%
Thomas W. Horton	94.2%
Marissa A. Mayer	98.1%
Doug McMillon	99.6%
Brian Niccol	99.8%
Greg B. Penner	98.6%
Randall L. Stephenson	97.4%
Steuart Walton	99.5%

Shareholders voted to approve, on a non-binding, advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2024 Proxy Statement, with approximately 92.3% of the participating shares voting in favor of this proposal. The Board of Directors had recommended that shareholders vote for this proposal.

Shareholders also ratified the appointment of Ernst & Young LLP as Walmart’s Independent Accountants, with affirmative votes from approximately 98.2% of the shares voted. The Board of Directors had recommended a vote for this proposal.

An advance notice proposal and seven shareholder proposals were presented during the meeting and failed to receive affirmative votes from a majority of the total shares that were voted, and accordingly, did not pass.

• Jorgen Harmse – WALPAC advanced notice proposal: Received less than 0.01% of the shares that were voted
• Publication of Targets for Transitioning from Gestation Crates in Pork Supply Chain: Received approximately 12.5% of the shares that were voted
• Racial Equity Audit: Received approximately 15.4% of the shares that were voted
• Human Rights Impact Assessments: Received approximately 11.5% of the shares that were voted
• Set Compensation Policy that Optimizes Portfolio Value for Company Shareholders: Received approximately 4.4% of the shares that were voted
• Report on Respecting Civil Liberties: Received approximately 0.5% of the shares that were voted
• Workplace Safety & Violence Review: Received approximately 19.1% of the shares that were voted
• Corporate Financial Sustainability Report: Received approximately 0.4% of the shares that were voted

The official voting results for each item voted on by shareholders will be disclosed in a report to be filed with the Securities and Exchange Commission.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better – anytime and anywhere – in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605614869/en/

Media Relations Contact

Kelly Hellbusch

800-331-0085

Investor Relations Contact

Steph Wissink

IR@walmart.com

Source: Walmart Inc.

FAQ

Who was elected as a new director on the Walmart Board?

Brian Niccol, Chairman and CEO of Chipotle Mexican Grill, was elected as a new director on the Walmart Board.

What percentage of votes did Brian Niccol receive for his election as a director?

Brian Niccol received 99.8% of the votes for his election as a director.

How many director nominees were approved in Walmart’s 2024 Annual Shareholders' Meeting?

All 11 director nominees were approved in Walmart’s 2024 Annual Shareholders' Meeting.

What percentage of votes approved the executive compensation at Walmart’s 2024 Annual Shareholders' Meeting?

Approximately 92.3% of votes approved the executive compensation.

Which firm was ratified as Walmart’s Independent Accountants?

Ernst & Young LLP was ratified as Walmart’s Independent Accountants.

Did any of the shareholder proposals pass in Walmart’s 2024 Annual Shareholders' Meeting?

No, none of the eight shareholder proposals passed in Walmart’s 2024 Annual Shareholders' Meeting.