UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 13, 2023

 

Block, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware		001-37622		80-0429876
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

Not Applicable1

(Address of principal executive offices, including zip code)

(415) 375-3176

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.0000001 par value per share		SQ		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act  ☐

 

 

 

 

1	We do not designate a headquarters location as we have adopted a distributed work model.

Item 5.07

Submission of Matters to a Vote of Security Holders.

On June 13, 2023, Block, Inc. (the “Company”) held its 2023 annual meeting of stockholders (the “Annual Meeting”). The stockholders of the Company voted on the following four proposals at the Annual Meeting, each of which is more fully described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 28, 2023:

 

1.

To elect four Class II directors to serve until the 2026 annual meeting of stockholders and until their successors are duly elected and qualified;

 

2.

To approve, on an advisory basis, the compensation of the Company’s named executive officers;

 

3.

To ratify the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2023;

 

4.

To vote upon a proposal submitted by one of our stockholders regarding diversity and inclusion disclosure, if properly presented at the Annual Meeting.

Holders of the Company’s Class A common stock, par value $0.0000001 per share (the “Class A Common Stock”), were entitled to one vote on each proposal for each share held as of the close of business on April 20, 2023 (the “Record Date”), and holders of the Company’s Class B common stock, par value $0.0000001 per share (the “Class B Common Stock”), were entitled to ten votes on each proposal for each share held as of the close of business on the Record Date. The Class A Common Stock (including the underlying shares represented by CHESS Depositary Interests (“CDIs”)) and Class B Common Stock voted as a single class on all matters.

At the beginning of the Annual Meeting, present in person or by proxy were holders of 419,973,569 shares of Class A Common Stock (including holders of the Company’s CDIs) and 60,103,641 shares of Class B Common Stock, together representing 88.74% of the voting power of the Company’s outstanding shares entitled to vote at the Annual Meeting, constituting a quorum.

The final voting results for each of these proposals are detailed below.

 

1.	Election of Directors

 

Nominee		Votes For				Votes Withheld				Broker Non-Votes
Roelof Botha			826,026,937				115,032,731				79,241,669
Amy Brooks			823,821,202				117,238,466				79,241,669
Shawn Carter			908,855,598				32,204,070				79,241,669
James McKelvey			914,255,417				26,804,251				79,241,669

Each director-nominee was duly elected as a Class II director to serve until the Company’s 2026 annual meeting of stockholders and until his or her successor is duly elected and qualified.

2. Advisory Vote on Compensation of Named Executive Officers

 

Votes For		Votes Against		Votes Abstained		Broker Non-Votes
921,380,090		18,879,690		799,888		79,241,669

The stockholders advised that they were in favor of the compensation of the Company’s named executive officers.

3.	Ratification of Appointment of Independent Registered Public Accounting Firm

 

Votes For		Votes Against		Votes Abstained
1,018,602,316		720,206		978,815

The stockholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2023.

 

4.	Stockholder Proposal Regarding Diversity and Inclusion Disclosure

 

Votes For		Votes Against		Votes Abstained		Broker Non-Votes
139,610,531		798,419,776		3,029,361		79,241,669

The stockholders rejected the stockholder proposal regarding diversity and inclusion disclosure.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 15, 2023