Magna Announces 2022 Annual and Special Meeting Results
a. Election of Directors
| Nominee |
Votes FOR | Nominee | Votes FOR | ||
| Peter G. Bowie | 99.39 | % | Mary Lou Maher | 99.75 | % |
| Mary S. Chan | 99.41 | % | William A. Ruh | 99.77 | % |
| Hon. V. Peter Harder | 98.92 | % | Dr. Indira V. Samarasekera | 97.74 | % |
| Seetarama S. Kotagiri (CEO) | 99.52 | % | Dr. Thomas Weber | 98.87 | % |
| Dr. Kurt J. Lauk | 99.37 | % | Lisa S. Westlake | 99.17 | % |
| Robert F. MacLellan | 99.53 | % | |||
b. Other Items of Business
| Item |
Votes FOR | |
| Reappointment of Deloitte | 99.69 | % |
| Ratification of 2022 Treasury PSU Plan | 98.77 | % |
| Say on Pay | 93.16 | % |
Based on the voting results, each of the 11 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna's independent auditors and the Ratification of 2022 Treasury PSU Plan resolution and Say on Pay resolution were approved, in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.
INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected] │ 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & PR
[email protected] │ 248.761.7004
OUR BUSINESS (1)
Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 161,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 340 manufacturing operations and 89 product development, engineering and sales centres spanning 28 countries.
For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on Twitter @MagnaInt.
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(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.
Appendix “A”
VOTING RESULTS - 2022 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
| Resolution |
Votes For | Votes Withheld/Against | ||
# |
% |
# |
% |
|
| Elect Peter G. Bowie as Director | 231,374,175 | 99.39 | 1,421,979 | 0.61 |
| Elect Mary S. Chan as Director | 231,435,066 | 99.41 | 1,370,938 | 0.59 |
| Elect Hon. V. Peter Harder as Director | 230,298,851 | 98.92 | 2,507,153 | 1.08 |
| Elect Seetarama S. Kotagiri (CEO) as Director | 231,697,560 | 99.52 | 1,108,444 | 0.48 |
| Elect Dr. Kurt J. Lauk as Director | 231,341,811 | 99.37 | 1,464,193 | 0.63 |
| Elect Robert F. MacLellan as Director | 231,714,117 | 99.53 | 1,091,887 | 0.47 |
| Elect Mary Lou Maher as Director | 232,227,934 | 99.75 | 578,070 | 0.25 |
| Elect William A. Ruh as Director | 232,277,362 | 99.77 | 528,642 | 0.23 |
| Elect Dr. Indira V. Samarasekera as Director | 227,555,242 | 97.74 | 5,250,762 | 2.26 |
| Elect Dr. Thomas Weber as Director | 230,169,245 | 98.87 | 2,636,759 | 1.13 |
| Elect Lisa S. Westlake as Director | 230,868,401 | 99.17 | 1,937,603 | 0.83 |
| Re-Appointment of Deloitte LLP as Auditors | 232,087,040 | 99.69 | 718,964 | 0.31 |
| Ratification of 2022 Treasury PSU Plan | 229,952,696 | 98.77 | 2,853,078 | 1.23 |
| Advisory Resolution on Executive Compensation | 216,883,761 | 93.16 | 15,915,292 | 6.84 |
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