Chesapeake Energy Corporation Announces Preliminary Voting Results from Annual Shareholder Meeting
Nominees to the Board of Directors Receive Broad-Based Support and
Are Elected for Two-Year and Three-Year Terms
Proposal to Approve, on an Advisory Basis, the Compensation of
Chesapeake′s Named Executive Officers Passes
Shareholder Proposal Requesting an Advisory Shareholder Vote on
Director Compensation Fails
Chesapeake Energy Corporation (NYSE:CHK) today announced preliminary
voting results from its Annual Shareholder Meeting held today at the
company′s Oklahoma City headquarters. The nominees to the Board of
Directors received broad-based support and were elected to serve
two-year and three-year terms. Aubrey K. McClendon received
approximately 78% of the votes cast, Don Nickles received approximately
79% of the votes cast and Kathleen M. Eisbrenner and Louis A. Simpson
both received approximately 99% of the votes cast.
The voting results indicate that the proposal to approve an amendment to
Chesapeake′s Long-Term Incentive Plan and the proposal to ratify the
appointment of PricewaterhouseCoopers LLP as the company′s independent
registered public accounting firm for the fiscal year ending December
31, 2011 both passed with approximately 79% and 98% of the votes cast,
respectively.
The proposal to approve, on an advisory basis, the compensation of
Chesapeake′s named executive officers passed, receiving affirmative
votes representing approximately 58% of the votes cast. With
approximately 90% of the votes cast, shareholders selected one year for
the frequency of future advisory votes on the compensation of
Chesapeake′s named executive officers.
The shareholder proposal requesting an advisory vote on director
compensation failed, receiving affirmative votes representing only
approximately 43% of the votes cast.
Chesapeake Energy Corporation is the second-largest producer of
natural gas, a Top 15 producer of oil and natural gas liquids and the
most active driller of new wells in the U.S.Headquartered
in Oklahoma City, the company's operations are focused on discovering
and developing unconventional natural gas and oil fields onshore in the
U.S.Chesapeake owns leading positions in the Barnett,
Haynesville, Bossier, Marcellus and Pearsall natural gas shale plays and
in the Granite Wash, Cleveland, Tonkawa, Mississippian, Bone Spring,
Avalon, Wolfcamp, Wolfberry, Eagle Ford, Niobrara, Three Forks/Bakken
and Utica unconventional liquids plays.The company has
also vertically integrated its operations and owns substantial
midstream, compression, drilling and oilfield service assets.Chesapeake′s
stock is listed on the New York Stock Exchange under the symbol CHK.Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and press releases.
Chesapeake
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John
J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media:
Jim
Gipson, 405-935-1310
jim.gipson@chk.com
