Corporate GovernanceMay 15, 2026, 08:37 AM
Flowserve Board Reduces Director Count to 9; Shareholders Approve Exec Comp
AI Summary
Flowserve Corporation's Board of Directors approved an amendment to its By-Laws, reducing the number of directors from eleven to nine, effective May 14, 2026. At its 2026 Annual Meeting, shareholders elected nine directors, approved the advisory vote on executive compensation, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2026. Additionally, a shareholder proposal requesting an annual advisory vote on stock repurchases was not approved.
Key Highlights
- Flowserve's Board of Directors decreased the number of directors from eleven to nine, effective May 14, 2026.
- Nine director nominees were duly elected for annual terms expiring in 2027.
- Shareholders approved the advisory vote on executive compensation with 103,981,326 votes FOR.
- The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026 was ratified with 107,511,502 votes FOR.
- A shareholder proposal requesting an annual advisory vote on stock repurchases did not pass, with 105,292,037 votes AGAINST.
- The 2026 Annual Meeting had 91.02% of eligible shares present and voting.
Price Impact
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