Trimble shareholders elect directors, approve executive pay at annual meeting

Trimble Inc. (NASDAQ:TRMB), a $17.26 billion technology company with strong profitability metrics and a GOOD financial health score according to InvestingPro, saw shareholders elect all ten director nominees and approve key proposals during the company’s annual meeting held Tuesday.

According to an SEC filing, shareholders elected the entire slate of directors to serve for the coming year, with Robert G. Painter receiving the highest support at 204,733,500 votes in favor. Kara Sprague and Thomas Sweet also received strong backing with over 204 million votes each. InvestingPro data reveals management’s commitment to shareholder value through aggressive share buybacks and maintaining high shareholder yield.

The meeting included an advisory vote on executive compensation, commonly known as "Say on Pay," which passed with 191,470,886 votes in favor (93.1% of votes cast), while 13,378,472 votes were cast against and 1,055,178 abstained.

Shareholders also ratified the appointment of KPMG as Trimble’s independent registered public accounting firm for the fiscal year ending January 2, 2026. This proposal received 212,227,331 votes in favor, representing 96.4% of votes cast, with 7,768,947 votes against and 232,499 abstentions.

The director receiving the lowest support was Meaghan Lloyd, who still secured 177,662,042 votes in favor, with 28,242,494 votes withheld. Mark S. Peek received the second-lowest support with 183,460,503 votes in favor and 22,444,033 votes withheld.

The annual meeting results were disclosed in a Form 8-K filed with the Securities and Exchange Commission on Wednesday.

In other recent news, Trimble Inc. reported first-quarter results that exceeded expectations, with adjusted earnings per share of $0.61, surpassing the analyst estimate of $0.58. The company also reported revenue of $840.6 million, beating the consensus estimate of $811.4 million. Trimble’s annualized recurring revenue (ARR) reached a record high of $2.18 billion, marking a 7% year-over-year increase and a 15% rise on an organic basis. Additionally, Trimble maintained its full-year 2025 guidance, projecting revenue between $3.37 billion and $3.47 billion and adjusted EPS of $2.76 to $2.98.

In other developments, JPMorgan raised its price target for Trimble to $88, maintaining an Overweight rating, following a presentation by the company’s leadership that highlighted its growth prospects. Bernstein also reiterated an Outperform rating with a price target of $80, citing the company’s resilience in the construction technology sector. Trimble’s Architecture, Engineering, Construction, and Operations (AECO) segment reported a 19% year-over-year growth in organic ARR.

The company has been expanding its technology outlets, with new partnerships and collaborations enhancing its market reach. Trimble has also implemented a 4% surcharge to offset the impact of tariffs, which are expected to add approximately $10 million to the Cost of Goods Sold per quarter. These strategic moves position Trimble to navigate current economic uncertainties effectively.

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