Hotel operator Marriott International Inc.'s shareholders voted against a bylaws amendment and a stockholder proposal both involving the right to call special meetings, and in favor of a stockholder resolution to implement simple majority voting in the company's governance documents.
The company proposed to amend its bylaws to allow holders of 25% of the company's stock to call special meetings, which required the approval of two-thirds of votes. The proposal got 2,061,434,130 votes for, 669,870,180 votes against and 94,183,560 abstentions.
A stockholder also proposed to allow holders of 15% of Marriott's stock to call special meetings, which received 971,362,530 yes votes, 1,836,311,840 no votes and 17,813,500 abstentions.
The stockholder proposal to implement simple majority voting in the hotelier's governance documents passed, with 1,832,780,770 votes for, 974,384,240 against and 18,322,860 abstentions.