UniFirst Corp reelects directors, approves executive pay

Published 2025-01-16, 01:52 p/m
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UniFirst Corporation (NYSE:UNF), a leader in providing workplace uniforms and facility services with a market capitalization of $4.26 billion, announced the results of its Annual Meeting of Shareholders held on January 14, 2025.

The company, which boasts a perfect Piotroski Score of 9 according to InvestingPro data, demonstrates exceptional financial health with strong fundamentals. Shareholders voted to reelect three Class III Directors and approved executive compensation and the appointment of an independent auditor.

During the meeting, Cynthia Croatti, Sergio A. Pupkin, and Cecilia McKenney were elected as Class III Directors, each to serve a three-year term until the 2028 Annual Meeting of Shareholders. The election results showed strong support for Croatti and McKenney, while Pupkin received a mixed response with a higher number of withheld votes.

The advisory vote on executive compensation, as detailed in the Proxy Statement filed on December 5, 2024, passed with a significant majority. This non-binding vote reflects shareholder satisfaction with the company's executive pay structure.

Additionally, shareholders ratified the appointment of Ernst & Young LLP as UniFirst's independent registered public accounting firm for the fiscal year ending August 30, 2025. The ratification passed with an overwhelming majority of votes in favor.

Cynthia Croatti received 11,167,852 votes for, 2,622,963 withheld, and 669,608 broker non-votes. Additionally, Croatti had 29,190,750 votes for and 809,310 withheld from the Class B Common Stock.

  • Sergio A. Pupkin had 5,430,279 votes for, 8,360,536 withheld, and 669,608 broker non-votes.

Cecilia McKenney garnered 11,954,163 votes for, 1,836,652 withheld, and 669,608 broker non-votes.

The executive compensation proposal had 12,346,159 votes for, 1,435,313 against, 9,343 abstained, and 669,608 broker non-votes, with Class B Common Stock showing 29,190,750 for and 809,310 against.

  • Ernst & Young LLP's appointment was approved with 13,833,305 votes for, 621,220 against, and 5,898 abstained from the Common Stock, and 29,910,020 for and 90,040 against from the Class B Common Stock.

The company's headquarters are located at 68 Jonspin Road, Wilmington, Massachusetts, and the business is incorporated in the state of Massachusetts. UniFirst has been a staple in the services-personal services industry, classified under the Standard Industrial Classification code 7200.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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