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 9, 2017 |
THE TIMKEN COMPANY
(Exact Name of Registrant as Specified in its Charter)
Ohio
(State or Other Jurisdiction of Incorporation)
1-1169 |
34-0577130 | |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
4500 Mt. Pleasant St. NW, North Canton, Ohio 44720-5450
(Address of Principal Executive Offices) (Zip Code)
(234) 262-3000
(Registrants Telephone Number, Including Area Code)
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 (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 9, 2017, the Compensation Committee of the Board of Directors of The Timken Company (the Company) approved a modification of the August 4, 2014 deferred share award for William R. Burkhart to provide that the shares will continue to vest following Mr. Burkharts retirement from the Company as if he remained in continuous employment, subject to Mr. Burkhart entering into a restrictive covenants agreement at the time of his retirement. Mr. Burkharts shares from this grant will remain subject to deferred settlement consistent with the original vesting schedule. The balance of Mr. Burkharts unvested equity holdings will be forfeited upon his retirement.
Item 5.07 | Submission of Matters to a Vote of Security Holders. |
At the 2017 Annual Meeting of Shareholders held on May 9, 2017, the shareholders of the Company:
(1) elected the eleven Directors set forth below to serve for a term of one year expiring at the annual meeting in 2018 (or until their respective successors are elected and qualified);
NOMINEES |
FOR | WITHHOLD | BROKER NON- VOTES | ||||||||||||
Maria A. Crowe |
66,692,752 | 587,513 | 5,131,899 | ||||||||||||
Richard G. Kyle |
65,905,060 | 1,375,205 | 5,131,899 | ||||||||||||
John A. Luke, Jr. |
65,424,691 | 1,855,574 | 5,131,899 | ||||||||||||
Christopher L. Mapes |
66,819,274 | 460,991 | 5,131,899 | ||||||||||||
James F. Palmer |
66,818,205 | 462,060 | 5,131,899 | ||||||||||||
Ajita G. Rajendra |
59,736,066 | 7,544,199 | 5,131,899 | ||||||||||||
Joseph W. Ralston |
65,597,635 | 1,682,630 | 5,131,899 | ||||||||||||
Frank C. Sullivan |
64,017,439 | 3,262,826 | 5,131,899 | ||||||||||||
John M. Timken, Jr. |
65,900,382 | 1,379,883 | 5,131,899 | ||||||||||||
Ward J. Timken, Jr. |
65,796,332 | 1,483,933 | 5,131,899 | ||||||||||||
Jacqueline F. Woods |
65,722,511 | 1,557,754 | 5,131,899 |
(2) ratified the appointment of Ernst & Young LLP as its independent auditor for the fiscal year ending December 31, 2017;
FOR |
AGAINST |
ABSTAIN | ||
70,664,338 | 1,374,928 | 372,898 | ||
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(3) approved, on an advisory basis, the resolution set forth below regarding named executive officer compensation; and
RESOLVED, that the compensation of the named executive officers as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion & Analysis, the compensation tables and any related material disclosed in the 2017 Proxy Statement, is hereby APPROVED.
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FOR |
AGAINST |
ABSTAIN |
BROKER NON- VOTES | |||
65,240,490 | 1,742,678 | 297,097 | 5,131,899 | |||
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(4) recommended, on an advisory basis, one year for the frequency of the shareholder advisory vote on named executive officer compensation.
1 YEAR |
2 YEARS |
3 YEARS |
ABSTAIN |
BROKER NON- VOTES | ||||
59,795,643 | 187,143 | 7,102,416 | 195,063 | 5,131,899 | ||||
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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.
THE TIMKEN COMPANY | ||||||
Date: May 10, 2017 | By: | /s/ Philip D. Fracassa | ||||
Philip D. Fracassa Executive Vice President and Chief Financial Officer |
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