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Shopify Announces Results of its 2024 Annual Meeting of Shareholders

Newsfile Corp.
·4 min read

Internet, Everywhere--(Newsfile Corp. - June 5, 2024) - Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, announced today the results of its annual meeting of shareholders (the "Meeting") held on June 4, 2024. All director nominees were elected to the Board of Directors and PricewaterhouseCoopers LLP were appointed as the Company's auditors. Shareholders approved the third amendment and restatement of the Company's Long Term Incentive Plan and approved all unallocated awards under the Company's Long Term Incentive Plan and Stock Option Plan, as amended. In addition, shareholders approved the advisory resolution on the Company's approach to executive compensation, as further described in the Company's management information circular dated April 19, 2024.

The detailed results of the Meeting were as follows:

  1. Election of Directors

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The nine (9) nominees for director that were proposed by management of the Company were elected by a majority of the votes cast by shareholders present or represented by proxy at the Meeting. The votes cast for each nominee were as follows:

Director

Votes
for

% of
Votes for

Votes
Against

% of
Votes Against

Tobias Lütke

1,612,519,334

98.10%

31,288,225

1.90%

Robert Ashe

1,462,767,030

88.99%

181,041,894

11.01%

Gail Goodman

1,254,798,639

76.33%

389,010,285

23.67%

Colleen Johnston

1,589,328,000

96.69%

54,480,925

3.31%

Jeremy Levine

1,584,189,631

96.37%

59,619,274

3.63%

Prashanth Mahendra-Rajah

1,605,261,515

97.66%

38,547,180

2.34%

Lulu Cheng Meservey

1,643,010,721

99.95%

797,494

0.05%

Toby Shannan

1,637,461,348

99.61%

6,347,390

0.39%

Fidji Simo

1,525,960,560

92.83%

117,846,875

7.17%

 

  1. Appointment of Auditor

PricewaterhouseCoopers LLP were appointed as the Company's auditors by a majority of the votes cast by shareholders present or represented by proxy at the Meeting, and the directors were authorized to fix the auditors' compensation. The votes were cast as follows:

Votes
for

% of
Votes for

Votes
Withheld

% of
Votes Withheld

1,727,067,990

99.52%

8,275,412

0.48%

 

  1. Approval of Unallocated Options Under the Stock Option Plan

The unallocated options under the Company's Stock Option Plan, as amended, were approved by a majority of the votes cast by shareholders present or represented by proxy at the Meeting. The votes were cast as follows:

Votes
for

% of
Votes for

Votes
Withheld

% of
Votes Withheld

1,036,684,888

63.07%

607,124,037

36.93%

 

  1. Approval of Amended and Restated Long Term Incentive Plan

The Company's Third Amended and Restated Long Term Incentive Plan and the unallocated awards under such Long Term Incentive Plan, as amended, were approved by a majority of the votes cast by shareholders present or represented by proxy at the Meeting. The votes were cast as follows:

Votes
for

% of
Votes for

Votes
Withheld

% of
Votes Withheld

1,068,039,344

64.97%

575,765,117

35.03%

 

  1. Advisory Vote on Executive Compensation

The advisory resolution on the Company's approach to executive compensation was approved by a majority of the votes cast by shareholders present or represented by proxy at the Meeting. The votes were cast as follows:

Votes
for

% of
Votes for

Votes
Against

% of
Votes Against

1,137,203,756

69.18%

506,605,104

30.82%

 

Following the Meeting, the Board of Directors selected Tobias Lütke to continue to serve as Chair of the Board of Directors and Robert Ashe to continue to serve as Lead Independent Director.

About Shopify

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, SKIMS, Supreme, and many more. For more information, visit www.shopify.com.

CONTACT:

INVESTORS:
Carrie Gillard
Director, Investor Relations
IR@shopify.com

MEDIA:
Alex Lyons
External Communications
press@shopify.com

SOURCE: Shopify

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211702