UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company 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. ☐
Apple Hospitality REIT, Inc. (which is referred to below as the “Company”) is filing this report in accordance with Items 5.07 and 8.01 of Form 8-K.
Item 5.07. Submission of Matters to a Vote of Security Holders.
On May 14, 2020, the Company held its Annual Meeting of Shareholders (the “Annual Meeting”). At the Annual Meeting, shareholders considered:
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The election of eight (8) directors to the Board of Directors (the “Board”); |
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An advisory vote regarding the approval of compensation paid to the Company’s named executive officers; and |
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The ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm to serve for 2020. |
The Company’s shareholders voted as follows on these matters:
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1. |
The Company’s shareholders elected the eight director nominees named in the proxy statement with the following votes: |
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NOMINEE |
FOR |
WITHHELD |
BROKER NON-VOTES |
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Glenn W. Bunting |
135,830,557 | 2,347,904 | 38,629,786 | |||||||||
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Jon A. Fosheim |
134,881,294 | 3,297,167 | 38,629,786 | |||||||||
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Kristian M. Gathright |
118,185,581 | 19,992,880 | 38,629,786 | |||||||||
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Glade M. Knight |
123,776,334 | 14,402,127 | 38,629,786 | |||||||||
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Justin G. Knight |
131,305,483 | 6,872,978 | 38,629,786 | |||||||||
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Blythe J. McGarvie |
134,812,965 | 3,365,496 | 38,629,786 | |||||||||
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Daryl A. Nickel |
134,677,694 | 3,500,767 | 38,629,786 | |||||||||
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L. Hugh Redd |
135,890,004 | 2,288,457 | 38,629,786 | |||||||||
The eight duly elected directors, constituting all of the Board’s directors, will serve a one-year term expiring at the 2021 Annual Meeting of Shareholders.
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The Company’s shareholders voted on the advisory resolution to approve the compensation paid to the Company’s named executive officers with the following votes: |
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FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
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| 112,423,734 | 24,669,448 | 1,085,279 | 38,629,786 | |||||||||||
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The Company’s shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020. This proposal received the following votes: |
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FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
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| 171,989,684 | 4,051,356 | 767,207 | - | |||||||||||
Item 8.01. Other Events.
On May 14, 2020, the Board approved an extension until July 2021 of the Company’s existing share repurchase program. The extended share repurchase program permits the repurchase of up to $345 million of the Company’s common shares. Repurchases may be made in the open market, through 10b5-1 programs or in privately negotiated transactions. The timing of share repurchases and the number of common shares to be repurchased will depend upon prevailing market conditions and other factors. There can be no assurances that the Company will make additional purchases under the share repurchase program.
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.
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Apple Hospitality REIT, Inc. |
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By: |
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/s/ Justin G. Knight |
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Justin G. Knight Chief Executive Officer |
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May 15, 2020 |
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