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Brookdale Senior Living Inc. (NYSE:BKD) reported Tuesday that Frank M. Bumstead’s term as a member of its Board of Directors ended at the conclusion of the company’s annual meeting of stockholders held Friday. The company previously disclosed that Mr. Bumstead had notified the board he would not seek re-election, and his decision was not related to any disagreement with the company or its board.
At the annual meeting, stockholders elected eight directors to serve until the 2026 annual meeting. The elected directors are Jordan R. Asher, Claudia N. Drayton, Mark Fioravanti, Victoria L. Freed, Joshua Hausman, Elizabeth B. Mace, Denise W. Warren, and Lee S. Wielansky. Voting results showed that company nominees received more votes than alternative nominees proposed by Ortelius.
In addition to director elections, stockholders approved, on an advisory basis, the compensation of the company’s named executive officers. The votes tallied 174,321,233 in favor, 14,980,469 against, and 10,166,121 abstentions, with 458,474 broker non-votes.
Stockholders also ratified the appointment of Ernst & Young LLP as Brookdale’s independent registered public accounting firm for 2025. The vote count for this proposal was 195,065,525 in favor, 2,304,408 against, and 2,556,364 abstentions.
This information is based on a statement in a recent SEC filing.
In other recent news, Brookdale Senior Living Inc. reported a notable increase in its June 2025 occupancy rates, reaching 80.5%, a rise of 230 basis points compared to the previous year. The company’s second-quarter occupancy also improved by 200 basis points year-over-year, attributed to strong demand and effective sales execution. Meanwhile, Brookdale shareholders elected all eight of the company’s director nominees at the 2025 Annual Meeting, with each nominee receiving support from a majority of outstanding shares. In the realm of corporate governance, proxy advisory firms Glass Lewis (JO:LEWJ) and Egan-Jones have recommended that Brookdale stockholders vote for nominees proposed by activist investor Ortelius Advisors, citing the company’s financial underperformance and high debt levels. Glass Lewis endorsed Ortelius nominees for their expertise in senior housing and real estate, while Egan-Jones expressed concerns about Brookdale’s strategy and execution. However, Institutional Shareholder Services (ISS) advised against giving Ortelius control, questioning the feasibility of its plan. Brookdale has emphasized the importance of retaining experienced directors to ensure effective strategy execution and warned against potential disruptions from replacing key board members. These developments come amid ongoing discussions about optimizing Brookdale’s portfolio and addressing its financial challenges.
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