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): June 15, 2016

 

EQUITY COMMONWEALTH

(Exact Name of Registrant as Specified in Its Charter)

 

Maryland

(State or Other Jurisdiction of Incorporation)

 

1-9317

 

04-6558834

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

Two North Riverside Plaza,
Suite 2100, Chicago, IL

 

60606

(Address of Principal Executive Offices)

 

(Zip Code)

 

(312) 646-2800

(Registrant’s 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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

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

 

On June 15, 2016, Equity Commonwealth (the “Company”) held its 2016 annual meeting of shareholders (the “Annual Meeting”). At the Annual Meeting, the Company’s shareholders (i) elected 11 trustees to the Board of Trustees of the Company (the “Board”) for one-year terms, (ii) approved, on a non-binding advisory basis, the compensation of the named executive officers, and (iii) ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2016. The proposals are described in the Company’s Proxy Statement. The final voting results for each proposal are set forth below.

 

Proposal 1: Election of Trustees

 

At the Annual Meeting, shareholders elected eleven trustees to the Board to serve until the 2017 annual meeting of shareholders and until their respective successors have been duly elected and qualified. The table below sets forth the voting results for each trustee nominee:

 

Nominee

 

Votes For

 

Votes Withheld

 

Broker Non-Votes

 

Sam Zell

 

94,440,509

 

5,774,172

 

11,813,219

 

James S. Corl

 

99,593,582

 

621,099

 

11,813,219

 

Martin L. Edelman

 

98,404,879

 

1,809,802

 

11,813,219

 

Edward A. Glickman

 

97,777,857

 

2,436,824

 

11,813,219

 

David Helfand

 

97,788,673

 

2,426,008

 

11,813,219

 

Peter Linneman

 

84,742,800

 

15,471,881

 

11,813,219

 

James L. Lozier, Jr.

 

99,495,644

 

719,037

 

11,813,219

 

Mary Jane Robertson

 

99,598,634

 

616,047

 

11,813,219

 

Kenneth Shea

 

97,685,967

 

2,528,714

 

11,813,219

 

Gerald A. Spector

 

99,500,448

 

714,233

 

11,813,219

 

James A. Star

 

97,784,294

 

2,430,387

 

11,813,219

 

 

Proposal 2: Advisory Vote on Executive Compensation

 

At the Annual Meeting, the Company’s shareholders voted affirmatively on a non-binding resolution to approve the compensation of the Company’s named executive officers. The table below sets forth the voting results for this proposal:

 

Votes For

 

Votes Against

 

Abstentions

 

Broker Non-Votes

 

95,391,870

 

3,894,325

 

928,486

 

11,813,219

 

 

Proposal 3: Ratification of the Appointment of Independent Registered Public Accounting Firm

 

At the Annual Meeting, the Company’s shareholders ratified the appointment of Ernst & Young LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2016. The table below sets forth the voting results for this proposal:

 

Votes For

 

Votes Against

 

Abstentions

 

 

 

110,671,855

 

546,221

 

809,824

 

 

 

 

2



 

Item 8.01. Other Events.

 

Annual Trustee Compensation

 

On June 15, 2016, the Compensation Committee of the Board approved the grant of restricted common shares of the Company to each independent Trustee of the Company pursuant to the Company’s annual compensation plan for independent Trustees. The restricted common shares were awarded pursuant to a new form of Restricted Stock Agreement to be used for grants of restricted common shares to independent members of the Board (the “Trustee Form Restricted Stock Agreement”) under the Equity Commonwealth 2015 Equity Incentive Plan. The Trustee Form Restricted Stock Agreement provides the grantee with an amount of restricted common shares based on a time-based vesting formula.

 

The foregoing description of the Trustee Form Restricted Stock Agreement is not intended to be complete and is subject to and qualified in its entirety by reference to the Trustee Form Restricted Stock Agreement, which is attached hereto as Exhibit 10.1 and is incorporated in this Item 8.01 by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)                                 Exhibits

 

Exhibit Number

 

Description

10.1

 

Form of Restricted Stock Agreement for Trustees under Equity Commonwealth 2015 Equity Incentive Plan

 

3



 

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.

 

 

EQUITY COMMONWEALTH

 

By:

/s/ Orrin S. Shifrin

 

Name:

Orrin S. Shifrin

 

Title:

Executive Vice President, General Counsel and Secretary

 

 

Date: June 15, 2016

 

 

4



 

Exhibit Index

 

Exhibit Number

 

Description

10.1

 

Form of Restricted Stock Agreement for Trustees under Equity Commonwealth 2015 Equity Incentive Plan

 

5