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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): May 24, 2023

 

 

The Travelers Companies, Inc.

(Exact name of registrant as specified in its charter)

 

 

 Minnesota

(State or other jurisdiction of

incorporation) 

 

001-10898

(Commission File Number)

 

41-0518860

(IRS Employer

Identification No.)

 

485 Lexington Avenue
New York, New York 10017
(Address of principal executive offices) (Zip code)

 

(917) 778-6000

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

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 (see General Instruction A.2. below):

 

¨      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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common stock, without par value   TRV   New York Stock Exchange

 

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.    ¨

 

 

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

e)  On May 24, 2023, the shareholders of The Travelers Companies, Inc. (the “Company”) approved the Company’s 2023 Stock Incentive Plan (the “2023 Stock Incentive Plan”).

 

The 2023 Stock Incentive Plan authorizes the Compensation Committee of the Board of Directors of the Company to grant to employees, non-employee directors, consultants and other service providers of the Company and its affiliates incentive-based compensation in the form of Company common stock.

 

The material terms of the 2023 Stock Incentive Plan are described in the Company’s definitive Proxy Statement, dated April 7, 2023, under the heading “Item 5 — The Travelers Companies, Inc. 2023 Stock Incentive Plan”, which description is incorporated herein by reference. The descriptions of the 2023 Stock Incentive Plan contained herein and in the Company’s definitive Proxy Statement do not purport to be complete and are qualified in their entirety by reference to the 2023 Stock Incentive Plan, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

 

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

 

The Company held its annual meeting of shareholders on May 24, 2023. For more information on the following proposals submitted to shareholders, see the Company’s definitive proxy statement, dated April 7, 2023. Below are the final voting results.

 

Item 1 — Election of Directors

 

Name  Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
Alan L. Beller   177,604,743    8,607,302    363,358    18,924,822 
Janet M. Dolan   175,658,560    10,576,162    340,681    18,924,822 
Russell G. Golden   184,779,908    1,436,091    359,404    18,924,822 
Patricia L. Higgins   177,878,682    8,354,959    341,762    18,924,822 
William J. Kane   180,350,302    5,858,984    366,117    18,924,822 
Thomas B. Leonardi   178,894,454    7,318,960    361,989    18,924,822 
Clarence Otis Jr.   174,038,260    12,186,682    350,461    18,924,822 
Elizabeth E. Robinson   178,868,645    7,363,618    343,140    18,924,822 
Philip T. Ruegger III   177,479,733    8,729,661    366,009    18,924,822 
Rafael Santana   179,747,423    6,467,827    360,153    18,924,822 
Todd C. Schermerhorn   184,983,199    1,234,194    358,010    18,924,822 
Alan D. Schnitzer   176,836,080    8,835,020    904,303    18,924,822 
Laurie J. Thomsen   177,992,563    8,232,555    350,285    18,924,822 
Bridget van Kralingen   184,949,733    1,266,821    358,849    18,924,822 

 

Item 2 — Ratification of Independent Registered Public Accounting Firm

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 197,181,751    7,950,049    368,425    0 

 

Item 3 — Non-Binding Vote on the Frequency of Future Votes to Approve Executive Compensation

 

1 Year   2 Years   3 Years   Votes Abstained   Broker Non-Votes 
 181,450,994    287,783    4,359,206    477,420    18,924,822 

 

Based on the results of the vote, and consistent with the Board of Directors’ recommendation, the Board of Directors of the Company has determined that future non-binding votes of shareholders to approve the compensation of the named executive officers will be submitted annually to the Company’s shareholders until the next non-binding shareholder vote on the frequency of shareholder votes to approve executive compensation, or until the Board of Directors otherwise determines a different frequency for such non-binding votes.

 

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Item 4 — Non-Binding Vote to Approve Executive Compensation

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 159,725,449    26,087,701    762,253    18,924,822 

 

Item 5 — Approval of The Travelers Companies, Inc. 2023 Stock Incentive Plan

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 176,156,909    9,866,272    552,222    18,924,822 

 

Item 6 — Shareholder Proposal Relating to the Issuance of a Report on GHG Emissions

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 27,071,101    157,646,874    1,857,428    18,924,822 

 

Item 7 — Shareholder Proposal Relating to Policies regarding Fossil Fuel Supplies

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 16,215,317    167,989,223    2,370,863    18,924,822 

 

Item 8 — Shareholder Proposal Relating to Conducting a Racial Equity Audit

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 65,194,392    119,414,350    1,966,661    18,924,822 

 

Item 9 — Shareholder Proposal Relating to the Issuance of a Report on Insuring Law Enforcement

 

Votes For   Votes Against   Votes Abstained   Broker Non-Votes 
 19,117,273    160,958,106    6,500,024    18,924,822 

 

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Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits.

 

Exhibit No.   Description
10.1   The Travelers Companies, Inc. 2023 Stock Incentive Plan was filed as Exhibit 4.3 to the Company’s Registration Statement on Form S-8 (Registration No. 333-272161) dated May 24, 2023, and is incorporated herein by reference.
     
101.1   Pursuant to Rule 406 of Regulation S-T, the cover page to this Current Report on Form 8-K is formatted in Inline XBRL.
     
104.1   Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101.1.)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, The Travelers Companies, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:     May 26, 2023 THE TRAVELERS COMPANIES, INC.
     
  By:  /s/ Christine K. Kalla
    Name: Christine K. Kalla
    Title: Executive Vice President and General Counsel

 

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