RestructuringJun 11, 2026, 04:37 PM
Weatherford Shareholders Reject Redomestication to Texas
AI Summary
Weatherford International plc shareholders rejected the proposed redomestication from Ireland to Texas at a Special Court-Convened Meeting and Annual General Meeting. While the proposal received over 60% support, it failed to meet the requisite 75% threshold. The company stated that redomestication remains a priority and intends to present an updated proposal to redomesticate to Delaware at a future meeting. Additionally, shareholders approved the Fifth Amended and Restated 2019 Equity Incentive Plan, increasing issuable shares by 565,000, elected all director nominees, ratified KPMG as auditor, and approved executive compensation.
Key Highlights
- Shareholders rejected the proposed redomestication from Ireland to Texas.
- The redomestication scheme received 40,010,359 'For' votes but did not meet the 75% threshold.
- Weatherford plans to present an updated proposal to redomesticate to Delaware at a future meeting.
- Shareholders approved the Fifth Amended and Restated 2019 Equity Incentive Plan, increasing shares by 565,000.
- All six director nominees were elected to serve a one-year term.
- KPMG LLP was ratified as the independent auditor for 2026.
- Executive compensation was approved on a non-binding advisory basis.
Price Impact
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