Hospitality Properties Trust (Nasdaq: HPT) today announced the results
of its annual meeting held on June 14, 2018, as follows:
Shareholders approved by the required share votes a non-binding
ratification of the appointment of Ernst & Young LLP as the Trust’s
independent registered public accounting firm.
A non-binding advisory resolution to approve the compensation paid to
the Trust’s named executive officers did not receive the required share
votes of shareholders.
A non-binding shareholder proposal by the Comptroller of the City of New
York, as the custodian and a trustee of the New York City Employees’
Retirement System, New York City Fire Pension Fund, New York City
Teacher’s Retirement System and the New York City Police Policy Pension
Fund, and custodian of the New York City Board of Education Retirement
System, that the Trust adopt a “proxy access” bylaw was approved by a
majority of the share votes cast.
A non-binding shareholder proposal by UNITE HERE! that the Trust adopt a
consequential majority vote standard for uncontested director elections
was approved by a majority of the share votes cast.
William A. Lamkin, the Class II Independent Trustee nominee, received
less than the majority of share votes for his election. Under applicable
provisions of Maryland law and the Trust’s governing documents, Mr.
Lamkin therefore became a holdover Independent Trustee and he then
tendered his resignation. Thereafter, the Trust’s Nominating and
Governance Committee and the Trust’s Board met and considered, among
other things, that applicable Securities and Exchange Commission rules,
Nasdaq listing requirements and the Trust’s governing documents require
that the Trust have a majority of Independent Trustees and that Mr.
Lamkin had in the past provided high quality services as Independent
Trustee. Based upon these considerations and others, the Nominating and
Governance Committee recommended to the Board, and the Board then
determined to appoint William A. Lamkin to serve as a Class II
Independent Trustee until the next scheduled election for this position
or until his successor qualifies.
Hospitality Properties Trust is a real estate investment trust, or REIT,
which owns a diverse portfolio of hotels and travel centers located in
45 states, Puerto Rico and Canada. HPT’s properties are operated under
long term management or lease agreements. HPT is managed by the
operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative
asset management company that is headquartered in Newton, Massachusetts.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the Nasdaq.No shareholder,
Trustee or officer is personally liable for any act or obligation of the
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