OVERLAND PARK, KS - SelectQuote, Inc. (NYSE:SLQT), a leading provider of insurance agent services, announced the results of its 2024 Annual Meeting of Stockholders held on Monday. Shareholders voted on several key proposals, including the election of directors and the approval of executive compensation.
The company reported that two Class II directors were re-elected to serve until the 2027 annual meeting. Earl H. “Trace” Devanny III received 65,389,144 votes for and 9,388,512 votes withheld. Raymond (NS:RYMD) F. Weldon received 65,228,320 votes for and 9,549,336 votes withheld. Both elections were accompanied by 32,274,542 broker non-votes.
Additionally, the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending June 30, 2025, was ratified with an overwhelming majority. The proposal received 104,408,460 votes for, 254,145 against, and 2,389,593 abstentions.
Shareholders also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers as disclosed in SelectQuote's 2024 proxy statement. The proposal garnered 68,654,310 votes for, 5,657,306 against, and 466,040 abstentions, along with 32,274,542 broker non-votes.
The meeting was well-attended, with 107,052,198 shares represented in person or by proxy, out of the 171,464,822 shares outstanding as of the record date, September 20, 2024.
InvestingPro Insights
To complement the report on SelectQuote's Annual Meeting results, recent financial data from InvestingPro offers additional context for investors. Despite the company's recent governance approvals, SelectQuote's financial performance presents a mixed picture. The company's revenue growth is notable, with a 28.72% increase over the last twelve months, indicating strong market demand for its insurance agent services.
However, InvestingPro Tips highlight that SelectQuote has not been profitable over the last twelve months, which may be a concern for investors looking at the company's long-term financial health. This aligns with the reported negative EPS of -$0.28 for the same period.
On a positive note, another InvestingPro Tip reveals that SelectQuote's liquid assets exceed its short-term obligations, suggesting a solid near-term financial position. This could provide some reassurance to shareholders about the company's ability to meet its immediate financial commitments.
The stock's performance has been volatile, with a strong 87.02% return over the past year, but a significant price drop over the last three months. This volatility, combined with the company's financial metrics, underscores the importance of careful analysis for potential investors.
For those seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide deeper insights into SelectQuote's financial outlook and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.