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EX-10.1 - EX-10.1 - TRAVELERS COMPANIES, INC.a17-13849_1ex10d1.htm

 

 

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, 2017

 


 

The Travelers Companies, Inc.

(Exact name of registrant as specified in its charter)

 


 

Minnesota
(State or other jurisdiction of
incorporation)

 

001-10898
(Commission File Number)

 

41-0518860
(IRS Employer
Identification No.)

 

485 Lexington Avenue
New York, New York
(Address of principal executive offices)

 

10017
(Zip Code)

 

(917) 778-6000

(Registrant’s telephone number, including area code)

 

Not Applicable

(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 (see General Instruction A.2. below):

 

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

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

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

o                  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 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                            o

 

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. o

 

 

 



 

Item 5.02.                Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e)                                  On May 18, 2017, the shareholders of The Travelers Companies, Inc. (the “Company”) approved an amendment to The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan (the “2014 Stock Incentive Plan”) at the Company’s annual meeting of shareholders.  The amendment increases the number of shares authorized for issuance under the 2014 Stock Incentive Plan by 2,500,000. The material terms of the 2014 Stock Incentive Plan, as amended, are described in the Company’s definitive proxy statement, dated March 31, 2017, under the heading “Item 5 — Amendment to The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan”, which is incorporated herein by reference.

 

The 2014 Stock Incentive Plan, as amended, is filed as Exhibit 10.1 hereto.

 

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

 

The Company held its annual meeting of shareholders on May 18, 2017.  For more information on the following proposals submitted to shareholders, see the Company’s definitive proxy statement dated March 31, 2017.  Below are the final voting results.

 

Item 1 — Election of Directors

 

Name

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

Alan L. Beller

 

211,456,568

 

2,319,026

 

362,638

 

33,219,140

 

John H. Dasburg

 

204,756,210

 

8,970,537

 

411,485

 

33,219,140

 

Janet M. Dolan

 

207,056,031

 

6,749,563

 

332,638

 

33,219,140

 

Kenneth M. Duberstein

 

206,289,595

 

7,501,349

 

347,288

 

33,219,140

 

Patricia L. Higgins

 

210,990,584

 

2,809,583

 

338,065

 

33,219,140

 

William J. Kane

 

213,007,882

 

764,443

 

365,907

 

33,219,140

 

Cleve L. Killingsworth Jr.

 

211,202,737

 

2,592,377

 

343,118

 

33,219,140

 

Philip T. Ruegger III

 

212,868,927

 

889,979

 

379,326

 

33,219,140

 

Todd C. Schermerhorn

 

212,732,377

 

1,040,279

 

365,576

 

33,219,140

 

Alan D. Schnitzer

 

211,881,442

 

1,936,653

 

320,137

 

33,219,140

 

Donald J. Shepard

 

210,907,660

 

2,866,349

 

364,223

 

33,219,140

 

Laurie J. Thomsen

 

209,637,714

 

4,175,572

 

324,946

 

33,219,140

 

 

Item 2 — Ratification of Independent Registered Public Accounting Firm

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

240,264,654

 

6,650,039

 

442,679

 

0

 

 

Item 3 — Non-Binding Vote on the Frequency of Future Votes on Executive Compensation

 

One Year

 

Two Years

 

Three Years

 

Votes Abstained

 

Broker Non-Votes

 

188,508,102

 

976,811

 

24,078,674

 

574,645

 

33,219,140

 

 

Based on the results of the vote, and consistent with the Board of Directors’ recommendation, the Board of Directors of the Company has determined that future non-binding votes of shareholders to approve the compensation of the named executive officers will be submitted annually to the Company’s shareholders until the next non-binding shareholder vote on the frequency of shareholder votes on executive compensation, or until the Board of Directors otherwise determines a different frequency for such non-binding votes.

 

1



 

Item 4 — Non-Binding Vote to Approve Executive Compensation

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

198,916,013

 

13,614,602

 

1,607,617

 

33,219,140

 

 

Item 5 — Amendment to The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

201,355,738

 

11,535,714

 

1,246,780

 

33,219,140

 

 

Item 6 — Shareholder Proposal Relating to Lobbying

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

78,455,277

 

131,544,974

 

4,137,981

 

33,219,140

 

 

Item 7 — Shareholder Proposal Relating to a Gender Pay Equity Report

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

38,301,812

 

171,073,195

 

4,763,225

 

33,219,140

 

 

Item 8 — Shareholder Proposal Relating to a Diversity Report

 

Votes For

 

Votes Against

 

Votes Abstained

 

Broker Non-Votes

 

72,663,845

 

126,821,312

 

14,653,075

 

33,219,140

 

 

Item 9.01. Financial Statements and Exhibits.

 

(d)                       Exhibits.

 

Exhibit No.

 

Description

 

 

 

10.1

 

The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan

 

2



 

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.

 

 

Date:    May 19, 2017

THE TRAVELERS COMPANIES, INC.

 

 

 

 

By:

/s/ Kenneth F. Spence III

 

 

Name: Kenneth F. Spence III

 

 

Title: Executive Vice President and General Counsel

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

10.1

 

The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan

 

4