Green Mountain Coffee Roasters changes name to Keurig Green Mountain Inc

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Green Mountain Coffee Roasters changes name to Keurig Green Mountain Inc

Mon, 03/10/2014 - 2:01pm -- admin

by Timothy McQuiston, Vermont Business Magazine Green Mountain Coffee Roasters Inc, based in Waterbury, Vermont, has legally changed its name to Keurig Green Mountain Inc. The name change received overwhelming approval at the company's annual meeting held March 6. When the name change was suggested by management in January, it received a generally negative reception in Vermont, but shareholders approved it last week by over 130 million votes. Less than 2 percent of shareholders did not vote for the name change.

The company's consumer brand names, including Keurig and Green Mountain Coffee among others, will not change and consumers will continue to be able to purchase the brands on shelf and online. The company will retain its ticker symbol of "GMCR" on the NASDAQ stock exchange.

"Our new name better reflects who we are as a company today and captures our aspirations for the future," said Brian Kelley, Keurig Green Mountain's President and CEO. "The name Keurig Green Mountain brings together our two strongest brands, Keurig and Green Mountain Coffee, into one single and powerful corporate identity that symbolizes the strength of our business and the unity of our team, while also recognizing our strong heritage."

The company's Canadian subsidiary, formerly GMCR Canada Holding, Inc, also becomes Keurig Canada Inc effective immediately.

Keurig Green Mountain's new corporate logo, a sort of sideways K.

The new visual identity, like the new name, draws from elements of the company's former corporate visual identity and its Keurig® brand identity. For more information about the process leading to Keurig Green Mountain's new visual identity, please see the video on the Company's newly branded website www.KeurigGreenMountain.com.

Also voted on were the election of directors, the executive compensation plan, the employee stock purchase plan, the omnibus incentive plan and the naming of the accounting firm. All measures passed by wide margins with negligible opposition, with the exception of the re-election of outside director Michael Mardy, who generated 15.5 million "withheld" votes. As of the record date of January 6, 2014, there were 148,831,415 shares outstanding and entitled to notice of and to vote at the Annual Meeting.  The matters voted upon at the Annual Meeting and the final results of the voting are stated below.

Proposal I — Election of Directors  

Stockholders approved the election of John D. Hayes, A.D. David Mackay, Michael J. Mardy and David E. Moran as Class III directors to serve a three-year term to expire at the Company’s Annual Meeting in 2017.  

 

 

For

 

Withheld

 

Broker Non-Votes

 

 

 

 

 

 

 

John D. Hayes

 

121,671,128

 

706,868

 

17,045,169

 

 

 

 

 

 

 

A.D. David Mackay

 

121,577,980

 

800,016

 

17,045,169

 

 

 

 

 

 

 

Michael J. Mardy

 

106,855,911

 

15,522,085

 

17,045,169

 

 

 

 

 

 

 

David E. Moran

 

121,358,052

 

1,019,944

 

17,045,169

 
Proposal II — Advisory Vote on Executive Compensation of Named Executive Officers  

Stockholders approved, on an advisory basis, the Company’s compensation of the named executive officers, as disclosed in the Compensation Discussion and Analysis section of the Company’s Proxy Statement.  

For

 

Against

 

Abstain

 

Broker non-votes

 

 

 

 

 

 

 

120,429,125

 

1,573,672

 

375,198

 

17,045,170

 
Proposal III — Approve an amendment to the Restated Certificate of Incorporation to change the Company name to Keurig Green Mountain, Inc.  

Stockholders approved the amendment to the Company’s Restated Certificate of Incorporation to change the name of the Company to “Keurig Green Mountain, Inc.”  

For

 

Against

 

Abstain

 

 

 

 

 

137,112,104

 

1,877,679

 

433,381

 Proposal IV — Approve the Green Mountain Coffee Roasters, Inc. 2014 Omnibus Incentive Plan  

Stockholders approved the 2014 Omnibus Incentive Plan.  

For

 

Against

 

Abstain

 

Broker non-votes

 

 

 

 

 

 

 

119,558,760

 

2,573,555

 

245,679

 

17,045,171

As described under Item 5.02 of this Current Report, following the filing of the Registration Statement, the Compensation Committee amended the name of 2014 Omnibus Incentive Plan to be the “Keurig Green Mountain, Inc. 2014 Omnibus Incentive Plan” to reflect the Company Name Change.  

 

Proposal V — Approve the Green Mountain Coffee Roasters, Inc. 2014 Amended and Restated Employee Stock Purchase Plan 

Stockholders approved the 2014 Amended and Restated Employee Stock Purchase Plan.  

For

 

Against

 

Abstain

 

Broker non-votes

 

 

 

 

 

 

 

120,934,069

 

944,566

 

499,300

 

17,045,230

As described under Item 5.02 of this Current Report, following the filing of the Registration Statement, the Compensation Committee amended the name of 2014 Amended and Restated Employee Stock Purchase Plan to be “Keurig Green Mountain, Inc. 2014 Amended and Restated Employee Stock Purchase Plan” to reflect the Company Name Change.  

Proposal VI — Ratification of Independent Registered Public Accountants for Fiscal Year 2014  

At the Annual Meeting, stockholders ratified the appointment of PricewaterhouseCoopers LLP to serve as the Company’s independent registered public accountants for its 2014 fiscal year.  

For

 

Against

 

Abstain

 

 

 

 

 

138,529,344

 

646,522

 

247,299

Source: Keurig Green Mountain Inc 3.6.2014

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