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Bank of Montreal (94DW)

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Wednesday 01 April, 2020

Bank of Montreal

Result of Bank of Montreal 2020 AGM

RNS Number : 4386I
Bank of Montreal
01 April 2020
 

 REPORT UNDER

NATIONAL INSTRUMENT 51-102

REPORT OF VOTING RESULTS

 

 

 

To:  Canadian Securities Administrators

 

In accordance with section 11.3 of National Instrument 51-102 - Continuous Disclosure Obligations, the following sets out the matters voted on at the Annual Meeting of Shareholders of Bank of Montreal (the "Bank") held on March 31, 2020 and, as such votes were conducted by ballot, the number and percentage of votes cast for, against/withheld from each vote.  Each of the matters set out below is described in greater detail in the Notice of Annual Meeting of Shareholders and Management Proxy Circular which was mailed to shareholders prior to the Annual Meeting and is available at www.bmo.com/investorrelations .

 

The Board of Directors and management of the Bank recommended that shareholders vote FOR the election as director of each of the 12 nominees listed in the Management Proxy Circular, FOR the appointment of KPMG LLP as Auditors of the Bank, FOR the advisory vote on the Bank's approach to executive compensation, FOR amending the Bank of Montreal Amended and Restated Stock Option Plan and AGAINST Shareholder Proposals one, two and three.

 

 

1.  Election of Directors

 

A ballot was conducted to vote on each resolution to appoint each of the following 12 nominees as a Director of the Bank to serve until the next Annual Meeting of Shareholders of the Bank or until their resignation or their successor is elected or appointed, and the outcome was as follows:

 

Nominee

Votes For

Votes Withheld

Janice M. Babiak

287,076,651

98.22%

5,190,650

1.78%

Sophie Brochu

291,356,153

99.69%

910,952

0.31%

Craig W. Broderick

291,327,971

99.68%

939,330

0.32%

George A. Cope

284,984,221

97.51%

7,283,024

2.49%

Christine A. Edwards

286,552,072

98.04%

5,715,173

1.96%

Martin S. Eichenbaum

291,236,048

99.65%

1,031,253

0.35%

Ronald H. Farmer

278,487,715

95.29%

13,779,530

4.71%

David Harquail

291,407,562

99.71%

859,683

0.29%

Linda S. Huber

291,314,958

99.67%

952,343

0.33%

Eric R. La Flèche

288,063,884

98.56%

4,203,417

1.44%

Lorraine Mitchelmore

289,180,204

98.94%

3,087,097

1.06%

Darryl White

291,345,137

99.68%

922,164

0.32%

 

 

2.  Appointment of Shareholders' Auditors

 

A ballot was conducted to vote on the resolution to appoint the firm of KPMG LLP as the auditors of the Bank for the 2020 fiscal year and the outcome was as follows:

 

Votes For

Votes Withheld

295,201,244

96.74%

9,942,885

3.26%

 

3.  Advisory Vote on the Bank's approach to Executive Compensation

 

A ballot was conducted to vote for the Advisory Resolution on the Bank's approach to Executive Compensation and the outcome was as follows:

 

 

Votes For

Votes Against

276,155,837

94.49%

16,111,622

5.51%

 

 

4.  Amendments to the Bank of Montreal Amended and Restated Stock Option Plan

 

A ballot was conducted to vote on Amendments to the Bank of Montreal Amended and Restated Stock Option Plan and the outcome was as follows:

 

 

Votes For

Votes Against

218,433,620

74.74%

73,834,014

25.26%

 

 

5.  Competitiveness and Protection of Personal Information

 

A ballot was conducted to vote on a shareholder proposal regarding Competitiveness and Protection of Personal Information and the outcome was as follows:

 

 

Votes For

Votes Against

Votes Abstain

6,714,000

2.30%

284,205,854

97.24%

1,347,151

0.46%

 

 

6.  Diversity Target

 

A ballot was conducted to vote on a shareholder proposal regarding Diversity Target and the outcome was as follows:

 

 

Votes For

Votes Against

Votes Abstain

14,098,406

4.83%

276,693,177

94.67%

1,475,647

0.50%

 

 

7.  Suggested Incongruity between Fossil Fuel Lending History, Financing Criteria and Public  

  Statements

 

A ballot was conducted to vote on a shareholder proposal regarding Suggested Incongruity between Fossil Fuel Lending History, Financing Criteria and Public Statements and the outcome was as follows:

 

 

Votes For

Votes Against

Votes Abstain

29,733,519

10.17%

260,960,556

89.29%

1,572,855

0.54%

 

 

 

Dated this 31st day of March, 2020.

 

 

  Bank of Montreal

 

 

  By:  /s/ Barbara M. Muir

  Barbara M. Muir

  Corporate Secretary


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