Annual meeting held by OGE Energy Corp and shareholders

OGE Energy Corp wraps up annual meeting of shareholders - Oklahoma Energy  Today


OGE Energy Corp. held its annual meeting on May 18 electing its board of directors and acting on other measures.

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:
    • Judy R. McReynolds, lead director, chairman, president and chief executive officer of ArcBest Corporation.
    • Frank A. Bozich, president and chief executive officer at Trinseo PLC
    • Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm
    • Cathy R. Gates, former assurance partner of Ernst & Young LLP
    • David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc.
    • Luther C. Kissam, IV, partner with Bernhard Capital Partners
    • David E. Rainbolt, executive chairman of BancFirst Corporation
    • J. Michael Sanner, former audit partner of Ernst & Young LLP
    • Sheila G. Talton, president and chief executive officer of Gray Matter Analytics
    • Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E

Shareholders also ratified the appointment of Ernst & Young LLP as the company’s principal independent accountants for 2023, approved the compensation paid to named executive officers and okayed a voting frequency of every year on the compensation.

Members did not approve an amendment of the Restated Certificate of Incorporation to modify supermajority voting provisions, as it received less than 80% of the outstanding shares of the Company’s common stock required for passage.

“In 2022, we advanced a number of customer initiatives including continued upgrades and enhancements to the grid as well a new mobile app and new System Watch outage map. We look forward to continuing OG&E’s rich history in building and growing communities as we invest in transmission, distribution and generation to support that growth,” stated Sean Trauschke, Chairman, President and CEO as he began the meeting.

He repeated his claim that OGE’s electricity rates are 22% below the national average and 15% less than those in Texas.

The OGE Energy board of directors also declared a third quarter dividend of $0.4141 per common share of stock, to be paid July 28, 2023, to shareholders of record July 10, 2023. The dividend was unchanged from the previous quarter.

OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 890,000 customers in Oklahoma and western Arkansas.