International Paper Company

05/14/2025 | Press release | Distributed by Public on 05/14/2025 04:30

Proxy Results, Management Change/Compensation (Form 8-K)

Item 5.02   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Amendment to International Paper Company Pension Restoration Plan for Salaried Employees

On May 12, 2025, the Management Development and Compensation Committee (the "Committee") of the Board of Directors (the "Board") of International Paper Company (the "Company") approved and adopted Amendment No. 9 to the International Paper Company Pension Restoration Plan for Salaried Employees, as amended and restated effective as of January 1, 2009 (the "Pension Restoration Plan"). The Pension Restoration Plan provides for the payment of supplemental pension benefits from the Company's general assets to eligible employees if their full accrued pension benefit cannot be paid from the trust established under the tax-qualifiedretirement plan(s) sponsored by the Company. Benefits accrued under the Pension Restoration Plan were frozen effective December 31, 2018.

As amended by Amendment No. 9, the Pension Restoration Plan allows participants who work in the Company's global cellulose fibers business immediately prior to the Company's planned divestiture of such business to continue to earn service time and qualify for early retirement so long as they remain employed by the acquiring company. This amendment benefits Clayton R. Ellis, senior vice president - global cellulose fibers and a named executive officer in the Company's 2025 definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 1, 2025 (the "2025 Proxy Statement").

The foregoing description of Amendment No. 9 to the Pension Restoration Plan is only a summary and qualified in its entirety by reference to the full text of Amendment No. 9 included as Exhibit 10.1 to this Current Report on Form 8-Kand incorporated herein by reference. For additional information on our Pension Restoration Plan please see the Compensation, Discussion and Analysis section of our 2025 Proxy Statement. 

Item 5.07

Submission of Matters to a Vote of Security Holders.

On May 12, 2025, the Company held its 2025 annual meeting of shareowners (the "Company Annual Meeting"). At the Company Annual Meeting, holders of the Company's shares of common stock, par value $1.00 per share (the "Common Stock"), approved the proposals described in the 2025 Proxy Statement.

Of the 527,875,740 shares of Common Stock outstanding on the record date (March 14, 2025) and entitled to vote at the Company Annual Meeting, holders of 462,222,089 shares of Common Stock were present at the Company Annual Meeting in person or by proxy, constituting a quorum.

The voting results at the Company Annual Meeting were as follows:

Item 1: Election of 11 Directors

Shareowners approved the proposal to elect each of the following 11 nominees as directors, to serve a term of one year ending the earlier of (i) the Company's 2026 annual meeting of shareowners and the date a qualified successor has been elected or (ii) death, resignation or retirement.

Director Nominees For Against Abstain Broker Non-Votes

Jamie A. Beggs

428,094,703 1,744,176 439,492 31,943,718

Christopher M. Connor

420,163,130 9,709,861 405,380 31,943,718

Ahmet C. Dorduncu

420,373,118 9,492,712 412,541 31,943,718

Anders Gustafsson

425,234,860 4,612,115 431,396 31,943,718

Jacqueline C. Hinman

398,587,650 31,079,131 611,590 31,943,718

Clinton A. Lewis, Jr.

384,886,912 44,862,160 529,299 31,943,718

David A. Robbie

428,083,311 1,748,451 446,609 31,943,718

Andrew K. Silvernail

408,760,880 21,113,055 404,436 31,943,718

Kathryn D. Sullivan

413,839,928 15,415,777 1,022,666 31,943,718

Scott A. Tozier

428,063,555 1,776,760 438,056 31,943,718

Anton V. Vincent

420,615,322 9,039,150 623,899 31,943,718

Item 2: Ratification of Deloitte & Touche LLP as our Independent Auditor for 2025

Shareowners ratified the appointment of Deloitte & Touche LLP as the Company's independent auditor for 2025.

Votes For

Votes Against

Abstentions

Broker Non-Votes

450,810,149 10,996,949 414,991 0

Item 3: Non-bindingResolution to Approve the Compensation of our Named Executive Officers

Shareowners approved the non-bindingresolution to approve the compensation of our Named Executive Officers.

Votes For

Votes Against

Abstentions

Broker Non-Votes

417,316,776 12,007,656 953,939 31,943,718

Item 4: Shareowner Proposal Concerning a Report on the Company's LGBTQIA+ Equity and Inclusion Efforts

Shareowners did not approve the non-bindingshareowner proposal concerning a report on the Company's LGBTQIA+ Equity and Inclusion Efforts.

Votes For

Votes Against

Abstentions

Broker Non-Votes

27,910,701 398,849,110 3,518,560 31,943,718
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