Peloton to hold annual shareholder meeting on December 9th

Peloton has announced that their annual shareholder meeting will be (virtually) held on December 9th @ 5:00pm ET. In a letter to shareholders, Peloton CEO John Foley stated:

You are cordially invited to attend the 2020 Annual Meeting of Stockholders of Peloton Interactive, Inc., which is our first annual meeting of stockholders as a public company and which will be held virtually at on Wednesday, December 9, 2020 at 5:00 p.m. Eastern Time. Due to COVID-19, the Annual Meeting will be held in a virtual meeting format only and you will not be able to attend in person.

The matters expected to be acted upon at the Annual Meeting are described in the accompanying Notice of Annual Meeting of Stockholders and proxy statement. The Annual Meeting materials include the notice, proxy statement, our annual report, and proxy card.

Your vote is important. Whether or not you plan to attend the Annual Meeting virtually, please cast your vote as soon as possible by Internet, telephone or, if you received a paper proxy card and voting instructions by mail, by completing and returning the enclosed proxy card in the postage-prepaid envelope to ensure that your shares will be represented. Your vote by written proxy will ensure your representation at the Annual Meeting regardless of whether or not you attend virtually. Returning the proxy does not affect your right to attend the Annual Meeting virtually or to vote your shares virtually during the Annual Meeting.

At the meeting, three different items will be voted on.

First is the election of three members to the board of directors. The Peloton board has 8 directors, and 3 of those are up for election this year. All 3 are current members of Peloton’s board. The board recommends shareholders vote “Yes” to these members. The three board members are:

  1. Erik Blachford
  2. Howard Draft
  3. Pamela Thomas-Graham

Second is the appointment of Peloton’s independent registered public accounting firm. Shareholders are voting for or against the selection of Ernst & Young LLP. This selections means Ernst & Young would be responsible for performing the audit of the consolidated financial statements for the fiscal year ending June 30, 2021. They had this responsibility for the year ending in 2020. The board is recommending that shareholders vote “Yes” to this appointment.

Third is the non-binding advisory vote on how often future non-binding advisory votes should be for executive compensation. Shareholders are voting whether future votes about a (non-binding recommendation) about executive compensation should be held very 1, 2, or 3 years. The board recommends shareholders vote for “3 years”.

You can find in-depth details about each of these topics in Peloton’s 2020 Proxy Statement.

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Chris Lewis
Chris Lewis is the creator & founder of Pelo Buddy. He purchased his Peloton in 2018, and uses all the different devices: Peloton Bike, Tread, Row, and Guide. He has been involved in the fitness industry for more than a decade - previously co-founding the websites Mud Run Guide & Ninja Guide. You can find him on the leaderboard at #PeloBuddy.

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