OGE Energy Corp. held its 2020 Annual Meeting of Shareholders Thursday virtually via the internet in support of the health and well-being of all company stakeholders, including shareholders, company personnel and local communities.
Chairman, President and CEO Sean Trauschke began the meeting by thanking first responders and the company’s employees for their diligent efforts to keep people safe during this difficult time.
“I want to take a moment to thank and honor the tireless and brave members of our company, our community and our country for keeping things running,” Trauschke said. “We’re committed to safety in every aspect of our business. And, like so many others, our members have risen to the challenge of COVID-19 and are successfully adapting work practices to ensure uninterrupted service to our customers — all while protecting their own health and that of those around them. I’m very proud of their efforts these past few months.”
Following brief opening comments, Trauschke moved to the business portion of the meeting. In voting announced at the meeting, OGE Energy shareholders:
- Elected 10 members of the company’s board of directors to one-year terms. They are:
- Frank A. Bozich, president and chief executive officer at Trinseo, was re-elected. He has been a director of OGE Energy since February 2016.
- James H. Brandi, former managing director of BNP Paribas Securities Corp., was re-elected. He has been a director of OGE Energy since February 2010.
- Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm, was re-elected. He has been a director of OGE Energy since February 2018.
- Luke R. Corbett, former chairman and chief executive officer of Kerr-McGee Corporation, was re-elected. He has been a director of OGE Energy since December 1996.
- David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc., was re-elected. He has been a director of OGE Energy since July 2015.
- Judy R. McReynolds, chairman, president and chief executive officer of ArcBest Corporation, was re-elected. She has been a director of OGE Energy since July 2011.
- David E. Rainbolt, executive chairman of BancFirst Corporation. He has been a director of OGE Energy since January 2019.
- J. Michael Sanner, former audit partner of Ernst & Young LLP, was re-elected. Mr. Sanner has been a director of OGE Energy since September 2017.
- Sheila G. Talton, president and chief executive officer of Gray Matter Analytics, was re-elected. She has been a director of OGE Energy since September 2013.
- Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E, was re-elected. He has been a director of OGE Energy since May 2015.
- Ratified the appointment of Ernst & Young LLP as the company’s principal independent accountants for 2020;
- Approved, on an advisory basis, the compensation paid to named executive officers.
- Did not approve an amendment of the Restated Certificate of Incorporation to eliminate supermajority voting provisions, as it received less than 80% of the outstanding shares of the Company’s commons stock required for passage.
- The shareholder proposal regarding allowing written consent, received more than a majority of the votes cast but far less than the 80% of the outstanding shares that would be required to implement this provision.
The OGE Energy board of directors also declared a third quarter dividend of $0.3875 per common share of stock, to be paid July 30, 2020, to shareholders of record July 10, 2020. The dividend was unchanged from the previous quarter. In September 2019, the company increased its dividend by approximately 6 percent. This year marks the 74th consecutive year OGE Energy has paid dividends to shareholders.