SCHWAB CHARLES CORP Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J false 0000316709 0000316709 2023-05-18 2023-05-18 0000316709 us-gaap:CommonStockMember 2023-05-18 2023-05-18 0000316709 us-gaap:SeriesDPreferredStockMember 2023-05-18 2023-05-18 0000316709 schw:SeriesJPreferredStockMember 2023-05-18 2023-05-18

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 18, 2023

 

 

The Charles Schwab Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-9700   94-3025021

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS. Employer

Identification No.)

 

3000 Schwab Way  
Westlake, Texas   76262
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (817) 859-5000

N/A

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock - $.01 par value per share   SCHW   New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D   SCHW PrD   New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J   SCHW PrJ   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 5.07

Submission of Matters to a Vote of Security Holders.

 

  (a)

The 2023 Annual Meeting of Stockholders of The Charles Schwab Corporation (“CSC”) was held on May 18, 2023.

 

  (b)

All nominees for directors were elected, and each nominee received more “for” votes than “against” votes cast for his or her election. The proposal to ratify the selection of Deloitte & Touche LLP as CSC’s independent auditors for the 2023 fiscal year was approved. The advisory vote on named executive officer (“NEO”) compensation was approved. The advisory vote on the frequency of approval of named executive officer compensation was approved as one year. The stockholder proposal requesting pay equity disclosure was not approved. The stockholder proposal requesting disclosure of discrimination risk oversight and impact was not approved. The final voting results were as follows:

 

     For      Against      Abstain      Broker
Non-Vote		  

1

    Election of Directors            
  

(a)   Marianne C. Brown

      1,391,923,049        77,744,557        10,504,388        65,171,953  
  

(b)   Frank C. Herringer

      1,187,522,013        276,652,237        15,997,744        65,171,953  
  

(c)   Gerri K. Martin-Flickinger

      1,398,255,689        71,370,592        10,545,713        65,171,953  
  

(d)   Todd M. Ricketts

      1,397,658,822        71,906,569        10,606,603        65,171,953  
  

(e)   Carolyn Schwab-Pomerantz

      1,386,051,905        78,347,621        15,772,468        65,171,953  

2

    Ratification of the selection of Deloitte & Touche LLP as independent auditors      1,466,597,288        77,187,153        1,559,506        0  

3

    Advisory vote to approve named executive officer (NEO) compensation      1,358,945,646        118,735,604        2,490,744        65,171,953  

 

          One Year      Two Years      Three Years      Abstain      Broker
Non-Vote		  

4

    Frequency of advisory vote on NEO compensation      1,463,499,865        3,414,694        11,453,065        1,804,370        65,171,953  

 

          For      Against      Abstain      Broker
Non-Vote		  

5

    Stockholder Proposal on Pay Equity Disclosure      361,505,475        1,101,320,605        17,345,914        65,171,953  

6

    Stockholder Proposal on Discrimination Risk Oversight and Impact      14,281,846        1,454,343,901        11,546,247        65,171,953  

 

  (d)

CSC has decided, in light of the vote of stockholders, to include a stockholder vote on the compensation of NEOs in its proxy materials annually until the next required vote on the frequency of stockholder votes on the compensation of NEOs (which would be at CSC’s 2029 Annual Meeting of Stockholders unless presented earlier).

Signature(s)

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.

 

      THE CHARLES SCHWAB CORPORATION
Date: May 22, 2023     By:  

/s/ Peter Crawford

      Peter Crawford
      Managing Director and Chief Financial Officer
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