Hut 8 Amends Incentive Plan with 84.6% Approval, Say-on-Pay Passes at 54.6%
HUT•Hut 8 shareholders approved an amendment to the 2023 Omnibus Incentive Plan with 84.6% support and elected all eight directors at the June 11 annual meeting. The advisory say-on-pay vote narrowly passed with 54.6% support, marking the weakest backing of any proposal.
1. Annual Meeting Overview
At the June 11 annual meeting, 83,316,655 shares of common stock were represented, constituting a quorum, and shareholders voted on director elections, a say-on-pay advisory vote, auditor ratification, and an amendment to the 2023 Omnibus Incentive Plan.
2. Incentive Plan Amendment Results
The incentive plan amendment received 59,930,290 votes in favor, 10,705,328 against, and 224,268 abstentions, with 12,456,769 broker non-votes, translating to 84.6% approval among non-broker votes and enabling expanded equity awards under the plan.
3. Say-on-Pay Vote Outcome
The advisory vote on named executive officer compensation garnered 38,689,226 votes for, 31,950,016 against, and 220,644 abstentions, excluding broker non-votes, yielding just 54.6% support, the weakest result of the four proposals.
4. Director Election Results
All eight nominees were elected to serve until the 2027 annual meeting; CEO Asher Genoot led with 70,536,078 votes in favor, while Amy Wilkinson drew the highest opposition with 5,483,217 votes against and 2,946,878 abstentions.
