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) April 24, 2017

 

 

PACCAR Inc

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-14817   91-0351110

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

777 106th Avenue NE, Bellevue, WA 98004

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (425) 468-7400

 

 

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 (see General Instruction A.2.):

 

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in 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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02(f). On April 24, 2017, the Compensation Committee of the Board of Directors approved the Long Term Performance Cash Awards (“LTIP Cash Awards”) for the 2014-2016 cycle under the Long Term Incentive Plan for the Named Executive Officers identified in the Company’s March 16, 2017 proxy statement (“Proxy Statement”). The total compensation for each Named Executive Officer reported in the Summary Compensation Table on page 24 of the Proxy Statement has been recalculated to include the LTIP Cash Awards as follows:

 

     Non-Equity Incentive Plan
Compensation
        

Named Executive Officer

   LTIP Cash Award      Total Compensation  

R. E. Armstrong

   $ 1,165,725      $ 8,831,745  

R. J. Christensen

   $ 869,500      $ 5,176,979  

G. L. Moore

   $ 318,820      $ 2,566,008  

R. A. Bengston

   $ 303,120      $ 1,989,517  

T. K. Quinn

   $ 411,060      $ 1,828,656  

Item 5.07. Submission of Matters to a Vote of Security Holders

 

(a) The annual meeting of stockholders was held on April 25, 2017.

 

(b) Following is a brief description and vote count of all items voted on at the annual meeting:

Item No. 1. Election of Directors.

The following persons were elected to serve as Class I directors with a term expiring in 2018:

 

     Shares Voted      Shares Voted             Broker  
Nominee    “For”      “Against”      Abstentions      Nonvotes  

B. E. Ford

     301,190,068        1,084,301        561,241        0  

K. S. Hachigian

     301,105,612        1,210,533        519,465        0  

R. C. McGeary

     291,394,661        10,925,281        515,668        0  

M. A. Schulz

     301,066,473        1,242,890        526,247        0  

Item No. 2. Advisory Resolution to Approve Executive Compensation.

Item No. 2 received the affirmative vote of a majority of the shares present and entitled to vote at the meeting.

 

Shares Voted
“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes
287,007,409    15,099,491    728,221    489

Item No. 3. Advisory Vote on the Frequency of Executive Compensation Votes.

Three Years received the highest number of affirmative votes of the shares present and entitled to vote at the meeting.

 

Shares Voted

For One Year

   Shares Voted
For Two Years
   Shares Voted
For Three Years
   Abstentions    Broker
Nonvotes
135,801,521    2,385,287    164,057,520    589,443    1,839

Item No. 4. Stockholder Proposal to Eliminate Supermajority Voting.

Item No. 4 received the affirmative vote of a majority of the shares present and entitled to vote at the meeting.

 

Shares Voted
“For”

   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes
158,139,290    142,494,857    2,200,113    1,350


Item No. 5. Stockholder Proposal to Provide Proxy Access.

Item No. 5 did not receive the affirmative vote of a majority of the shares present and entitled to vote at the meeting.

 

Shares Voted
“For”
   Shares Voted
“Against”
   Abstentions    Broker
Nonvotes
148,997,996    151,498,527    2,337,737    1,350

 

(c) Not applicable.


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.

 

      PACCAR Inc
Date: April 28, 2017     By:  

/s/ J. D. Clack

      J. D. Clack
      Vice President, General Counsel and Secretary