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EX-99.2 - 2011 SENIOR EXECUTIVE ANNUAL INCENTIVE PLAN - STATE STREET CORPdex992.htm
EX-99.1 - TEXT OF ITEM 4-APPROVAL OF 2011 SENIOR EXECUTIVE ANNUAL INCENTIVE PLAN - STATE STREET CORPdex991.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, 2011

 

 

State Street Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Massachusetts   001-07511   04-2456637
(State of Incorporation)  

(Commission

File Number)

 

(IRS Employer

Identification Number)

One Lincoln Street, Boston, Massachusetts   02111
(Address of principal executive offices)   (Zip code)

Registrant’s telephone number, including area code: (617) 786-3000

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

 

 


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

At State Street Corporation’s annual meeting of shareholders held on May 18, 2011, State Street’s shareholders approved the 2011 Senior Executive Annual Incentive Plan. The plan had previously been approved by State Street’s Board of Directors, and its effectiveness was subject to shareholder approval. The plan provides additional incentive to senior executives to achieve targeted levels of corporate financial and strategic performance and is designed to preserve the tax deductibility of awards to senior executives under Section 162(m) of the Internal Revenue Code.

The provisions of the plan are described in the proxy statement for State Street’s 2011 annual meeting under “Item 4—Approval of 2011 Senior Executive Annual Incentive Plan,” which description is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by reference. The description of the plan is qualified in its entirety by reference to the complete text of the plan, a copy of which is attached to this Current Report on Form 8-K as Exhibit 99.2 and incorporated herein by reference.

 

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

On May 18, 2011, State Street Corporation held its annual meeting of shareholders for the following purposes:

 

   

to elect thirteen directors;

 

   

to approve an advisory proposal on executive compensation;

 

   

to hold an advisory vote on the frequency of future advisory proposals on executive compensation;

 

   

to approve the 2011 Senior Executive Annual Incentive Plan;

 

   

to ratify the selection of Ernst & Young LLP as State Street’s independent registered public accounting firm for the year ending December 31, 2011; and

 

   

to act on a shareholder proposal related to disclosure of certain political contributions.

The shareholders voted to elect the thirteen director nominees, to approve the advisory proposal on executive compensation, to approve an annual frequency for future advisory proposals on executive compensation, to approve the 2011 Senior Executive Annual Incentive Plan and to ratify the selection of the independent registered public accounting firm. The shareholders voted against approval of the shareholder proposal relating to disclosure of certain political contributions.


The number of votes cast for or against and the number of abstentions and broker non-votes, as applicable, in connection with each matter presented for shareholder consideration at the meeting, are set forth below:

Election of Directors

 

     For      Against      Abstain      Broker
Non-Votes
 

Kennett F. Burnes

     389,866,364         2,131,926         666,505         31,921,367   

Peter Coym

     388,300,639         3,678,104         686,052         31,921,367   

Patrick de Saint-Aignan

     390,033,933         1,940,294         690,568         31,921,367   

Amelia C. Fawcett

     384,877,529         7,109,984         677,282         31,921,367   

David P. Gruber

     386,975,257         5,017,246         672,292         31,921,367   

Linda A. Hill

     381,625,642         10,365,040         674,113         31,921,367   

Joseph L. Hooley

     382,748,410         9,235,017         681,368         31,921,367   

Robert S. Kaplan

     383,195,791         8,790,849         678,155         31,921,367   

Charles R. LaMantia

     387,288,211         4,706,765         669,819         31,921,367   

Richard P. Sergel

     382,255,772         9,739,105         669,918         31,921,367   

Ronald L. Skates

     387,502,904         4,474,096         687,795         31,921,367   

Gregory L. Summe

     363,541,034         28,447,644         676,117         31,921,367   

Robert E. Weissman

     382,099,089         9,893,059         672,647         31,921,367   

Other Matters

 

     For    Against      Abstain      Broker
Non-Votes
 

Advisory proposal on executive compensation

   347,155,186      41,308,011         4,201,598         31,921,367   


     One
Year
     Two
Years
     Three
Years
     Abstain      Broker
Non-Votes
 

Advisory vote on the frequency of future advisory proposals on executive compensation

     359,307,735         2,050,908         28,806,761         2,499,391         31,921,367   

 

     For      Against      Abstain      Broker
Non-Votes
 

Approval of the 2011 Senior Executive Annual Incentive Plan

     378,690,577         12,923,905         1,050,313         31,921,367   

Ratification of the selection of Ernst & Young LLP as State Street’s independent registered public accounting firm for the year ending December 31, 2011

     416,932,515         6,977,896         675,751         *   

Shareholder proposal relating to disclosure of certain political contributions

     141,735,952         179,755,732         71,173,111         31,921,367   

 

* Not applicable

 

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits.

 

Number

  

Description

99.1    Text of “Item 4—Approval of 2011 Senior Executive Annual Incentive Plan” from the proxy statement for State Street’s 2011 annual meeting of shareholders
99.2    2011 Senior Executive Annual Incentive Plan


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.

 

STATE STREET CORPORATION
By:  

/s/ David C. Phelan

Name:   David C. Phelan
Title:   Executive Vice President and General Counsel

Date: May 24, 2011


EXHIBIT INDEX

 

Number

  

Description

99.1    Text of “Item 4—Approval of 2011 Senior Executive Annual Incentive Plan” from the proxy statement for State Street’s 2011 annual meeting of shareholders
99.2    2011 Senior Executive Annual Incentive Plan