UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 5.07. Submission of Matters to a Vote of Security Holders.
The Annual Meeting of Monster Beverage Corporation (the “Company”), was held on June 14, 2022, at which the following matters were submitted to a vote of the stockholders. For more information on the following proposals, see the Proxy Statement.
Proposal No. 1. To elect ten directors of the Company to serve until the 2023 annual meeting of stockholders.
In accordance with the results below, the following individuals were re-elected as directors of the Company and received the number of votes set opposite their respective names.
Director | Votes For | Votes Withheld | Broker Non-Votes | |||
Rodney C. Sacks | 437,566,443 | 29,909,496 | 11,675,223 | |||
Hilton H. Schlosberg | 457,802,648 | 9,673,291 | 11,675,223 | |||
Mark J. Hall | 460,184,791 | 7,291,148 | 11,675,223 | |||
Ana Demel | 441,557,802 | 25,918,137 | 11,675,223 | |||
James L. Dinkins | 464,652,348 | 2,823,591 | 11,675,223 | |||
Gary P. Fayard | 457,543,979 | 9,931,960 | 11,675,223 | |||
Tiffany M. Hall | 466,948,779 | 527,160 | 11,675,223 | |||
Jeanne P. Jackson | 464,400,751 | 3,075,188 | 11,675,223 | |||
Steven G. Pizula | 453,391,910 | 14,084,029 | 11,675,223 | |||
Mark S. Vidergauz | 430,524,094 | 36,951,845 | 11,675,223 |
Proposal No. 2. To ratify the appointment of Deloitte & Touche LLP to serve as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2022.
In accordance with the results below, the appointment of Deloitte & Touche LLP was ratified and approved.
Votes For | Votes Against | Abstentions | ||
459,527,480 | 19,523,570 | 100,112 |
Proposal No. 3. To approve, on a non-binding, advisory basis, the compensation of the Company’s named executive officers.
In accordance with the results below, the compensation of the Company’s named executive officers was approved on a non-binding, advisory basis.
Votes For | Votes Against | Abstentions | Broker Non-Votes | |||
442,355,426 | 24,709,800 | 410,713 | 11,675,223 |
Proposal No. 4. To consider the stockholder proposal regarding a report on the Company’s plans to reduce greenhouse gas emissions.
In accordance with the results below, the stockholder proposal regarding a report on the Company’s plans to reduce greenhouse gas emissions was not approved.
Votes For | Votes Against | Abstentions | Broker Non-Votes | |||
205,974,698 | 260,112,115 | 1,389,126 | 11,675,223 |
Item 8.01. Other Events.
On June 14, 2022, the Company issued a press release announcing that its Board of Directors authorized a new repurchase program for the repurchase of up to an additional $500.0 million of the Company’s outstanding shares of common stock. As of June 14, 2022, approximately $157.4 million remained available for repurchase under the Company’s previously authorized repurchase program. The Company expects to make the share repurchases from time to time in the open market, through privately-negotiated transactions, by block-purchase or through other transactions managed by broker-dealers, or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and the share repurchases may be suspended or discontinued at any time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 Press Release dated June 14, 2022.
Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in iXBRL (Inline eXtensible Business Reporting Language).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Monster Beverage Corporation | |
Date: June 15, 2022 | /s/ Hilton H. Schlosberg |
Hilton H. Schlosberg | |
Vice Chairman of the Board of Directors and | |
Co-Chief Executive Officer |