UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number
811-23248
Tortoise Essential Assets Income Term Fund
(Exact Name of Registrant as specified in charter)
11550 Ash Street, Suite 300, Leawood, KS 66211
(Address of Principal Executive Offices) (Zip code)
P. Bradley Adams
11550 Ash Street, Suite 300, Leawood, KS 66211
(Name and Address of Agent For Service)
Registrant's telephone number, including area code: 913-981-1020
Date of fiscal year end: November 30
Date of reporting period: July 1, 2018 - June 30, 2019
Item 1. Proxy Voting Record
Vote Summary | ||||||||||||||||||||||||||||||||||||
SUEZ SA | ||||||||||||||||||||||||||||||||||||
Security | F6327G101 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | SZEVF | Meeting Date | 14-May-2019 | |||||||||||||||||||||||||||||||||
ISIN | FR0010613471 | �� | ||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
O.1 | APPROVAL OF CORPORATE FINANCIAL STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.2 | APPROVAL OF CONSOLIDATED FINANCIAL STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.3 | ALLOCATION OF INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 AND SETTING THE DIVIDEND: 0.65 EURO PER SHARE | Management | For | For | ||||||||||||||||||||||||||||||||
O.4 | RENEWAL OF THE TERM OF OFFICE OF MRS. ISABELLE KOCHER AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.5 | RENEWAL OF THE TERM OF OFFICE OF MRS. ANNE LAUVERGEON AS DIRECTOR | Management | Against | Against | ||||||||||||||||||||||||||||||||
O.6 | RENEWAL OF THE TERM OF OFFICE OF MR. NICOLAS BAZIRE AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.7 | APPOINTMENT OF MR. BERTRAND CAMUS AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.8 | APPOINTMENT OF MRS. MARTHA J. CRAWFORD AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.9 | APPROVAL OF THE COMPENSATION ELEMENT DUE OR AWARDED TO MR. GERARD MESTRALLET, CHAIRMAN OF THE BOARD OF DIRECTORS, FOR THE FINANCIAL YEAR 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.10 | APPROVAL OF THE COMPENSATION POLICY OF MR. GERARD MESTRALLET, CHAIRMAN OF THE BOARD OF DIRECTORS, FOR THE FINANCIAL YEAR 2019, FOR THE PERIOD FROM 01 JANUARY 2019 TO 14 MAY 2019 | Management | For | For | ||||||||||||||||||||||||||||||||
O.11 | APPROVAL OF THE COMPENSATION POLICY OF MR. JEAN-LOUIS CHAUSSADE, CHAIRMAN OF THE BOARD OF DIRECTORS, FOR THE FINANCIAL YEAR 2019, FOR THE PERIOD FROM 14 MAY 2019 TO 31 DECEMBER 2019 | Management | For | For | ||||||||||||||||||||||||||||||||
O.12 | APPROVAL OF THE COMPENSATION ELEMENT DUE OR AWARDED TO MR. JEAN-LOUIS CHAUSSADE, CHIEF EXECUTIVE OFFICER, FOR THE FINANCIAL YEAR 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.13 | APPROVAL OF THE COMPENSATION POLICY OF MR. JEAN-LOUIS CHAUSSADE, CHIEF EXECUTIVE OFFICER FOR THE FINANCIAL YEAR 2019, FOR THE PERIOD FROM 01 JANUARY 2019 TO 14 MAY 2019 | Management | For | For | ||||||||||||||||||||||||||||||||
O.14 | APPROVAL OF THE COMPENSATION POLICY OF MR. BERTRAND CAMUS, CHIEF EXECUTIVE OFFICER FOR THE FINANCIAL YEAR 2019, FOR THE PERIOD FROM 14 MAY 2019 TO 31 DECEMBER 2019 | Management | For | For | ||||||||||||||||||||||||||||||||
O.15 | APPROVAL OF REGULATED COMMITMENTS MADE FOR THE BENEFIT OF MR. BERTRAND CAMUS, CHIEF EXECUTIVE OFFICER, RELATING TO SEVERANCE PAY AND FOR NON-COMPETITION COVENANT | Management | For | For | ||||||||||||||||||||||||||||||||
O.16 | APPROVAL OF REGULATED COMMITMENTS MADE FOR THE BENEFIT OF MR. BERTRAND CAMUS, CHIEF EXECUTIVE OFFICER, RELATING TO A DEFINED CONTRIBUTION SUPPLEMENTARY PENSION AND RELATING TO THE MAINTENANCE OF THE GROUP PENSION AND HEALTH INSURANCE PLANS APPLICABLE TO SUEZ EMPLOYEES | Management | For | For | ||||||||||||||||||||||||||||||||
O.17 | AUTHORIZATION FOR THE COMPANY TO TRADE IN ITS OWN SHARES | Management | For | For | ||||||||||||||||||||||||||||||||
E.18 | AUTHORIZATION TO BE GRANTED TO THE BOARD OF DIRECTORS TO REDUCE THE SHARE CAPITAL BY WAY OF CANCELLING TREASURY SHARES HELD BY THE COMPANY | Management | For | For | ||||||||||||||||||||||||||||||||
E.19 | DELEGATION OF AUTHORITY TO BE GRANTED TO THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL OF THE COMPANY BY ISSUING SHARES OR TRANSFERABLE SECURITIES GRANTING ACCESS TO THE CAPITAL RESERVED FOR MEMBERS OF COMPANY SAVINGS PLANS WITH CANCELATION OF THE SHAREHOLDER'S PRE- EMPTIVE SUBSCRIPTION RIGHT FOR THE BENEFIT OF THE LATTER | Management | For | For | ||||||||||||||||||||||||||||||||
E.20 | DELEGATION OF AUTHORITY TO BE GRANTED TO THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL OF THE COMPANY WITH CANCELATION OF THE SHAREHOLDER'S PRE- EMPTIVE SUBSCRIPTION RIGHT, IN FAVOUR OF CATEGORY(IES) OF DESIGNATED BENEFICIARIES, AS PART OF THE IMPLEMENTATION OF THE SUEZ GROUP'S INTERNATIONAL SHAREHOLDING AND SAVINGS PLAN | Management | For | For | ||||||||||||||||||||||||||||||||
E.21 | AUTHORIZATION TO THE BOARD OF DIRECTORS TO PROCEED WITH THE ALLOCATION OF FREE SHARES IN FAVOUR OF EMPLOYEES OR CORPORATE OFFICERS WITHIN THE CONTEXT OF A SHAREHOLDING PLAN OF SUEZ GROUP | Management | For | For | ||||||||||||||||||||||||||||||||
E.22 | POWERS FOR FORMALITIES | Management | For | For | ||||||||||||||||||||||||||||||||
E.ON SE | ||||||||||||||||||||||||||||||||||||
Security | D24914133 | Meeting Type | Annual General Meeting | |||||||||||||||||||||||||||||||||
Ticker Symbol | EONGY | Meeting Date | 14-May-2019 | |||||||||||||||||||||||||||||||||
ISIN | DE000ENAG999 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
2 | RESOLUTION ON THE APPROPRIATION OF THE DISTRIBUTABLE PROFIT THE DISTRIBUTABLE PROFIT OF EUR 1,053,037,097.98 SHALL BE APPROPRIATED AS FOLLOWS: PAYMENT OF A DIVIDEND OF EUR 0.43 PER NO-PAR SHARE EUR 121,162,841.79 SHALL BE CARRIED FORWARD EX- DIVIDEND DATE: MAY 15, 2019 PAYABLE DATE: MAY 17, 2019 | Management | For | For | ||||||||||||||||||||||||||||||||
3 | RATIFICATION OF THE ACTS OF THE BOARD OF MDS | Management | For | For | ||||||||||||||||||||||||||||||||
4 | RATIFICATION OF THE ACTS OF THE SUPERVISORY BOARD | Management | For | For | ||||||||||||||||||||||||||||||||
5.1 | APPOINTMENT OF AUDITOR: FOR THE 2019 FINANCIAL YEAR: PRICEWATERHOUSECOOPERS GMBH, DUSSELDORF | Management | For | For | ||||||||||||||||||||||||||||||||
5.2 | APPOINTMENT OF AUDITOR: FOR THE REVIEW OF THE ABBREVIATED FINANCIAL STATEMENTS AND THE INTERIM FINANCIAL REPORTS FOR THE 2019 FINANCIAL YEAR: PRICEWATERHOUSECOOPERS GMBH, DUSSELDORF | Management | For | For | ||||||||||||||||||||||||||||||||
5.3 | APPOINTMENT OF AUDITOR: FOR THE REVIEW OF THE ABBREVIATED FINANCIAL STATEMENTS AND THE INTERIM FINANCIAL REPORT FOR THE FIRST QUARTER OF THE 2020 FINANCIAL YEAR: PRICEWATERHOUSECOOPERS GMBH, DUSSELDORF | Management | For | For | ||||||||||||||||||||||||||||||||
6 | APPROVAL OF THE AMENDMENT TO THE ARTICLES OF ASSOCIATION IN RESPECT THE SIZE OF THE SUPERVISORY BOARD BEING ADJUSTED IN CONNECTION WITH THE PLANNED TAKEOVER OF INNOGY SE BY THE COMPANY, THE SIZE OF THE SUPERVISORY BOARD SHALL BE INCREASED TO TWENTY MEMBERS AFTER THE TAKEOVER HAS BEEN FINALIZED. OF THE SIX ADDITIONAL MEMBERS THREE SHALL BE REPRESENTATIVES OF THE SHAREHOLDERS AND THREE OF THE EMPLOYEES. AS OF THE YEAR 2023, THE SIZE OF THE SUPERVISORY SHALL BE REDUCED TO TWELVE MEMBERS | Management | For | For | ||||||||||||||||||||||||||||||||
7.1 | APPROVAL OF CONTROL AND PROFIT-TRANSFER AGREEMENTS: THE CONTROL AND PROFIT- TRANSFER AGREEMENT WITH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, E.ON 11. VERWALTUNGS GMBH, EFFECTIVE FOR A PERIOD OF AT LEAST FIVE YEARS, SHALL BE APPROVED | Management | For | For | ||||||||||||||||||||||||||||||||
7.2 | APPROVAL OF CONTROL AND PROFIT-TRANSFER AGREEMENTS: THE CONTROL AND PROFIT- TRANSFER AGREEMENT WITH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, E.ON 12. VERWALTUNGS GMBH, EFFECTIVE FOR A PERIOD OF AT LEAST FIVE YEARS, SHALL BE APPROVED | Management | For | For | ||||||||||||||||||||||||||||||||
ENEL S.P.A. | ||||||||||||||||||||||||||||||||||||
Security | T3679P115 | Meeting Type | Ordinary General Meeting | |||||||||||||||||||||||||||||||||
Ticker Symbol | ENLAY | Meeting Date | 16-May-2019 | |||||||||||||||||||||||||||||||||
ISIN | IT0003128367 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
1 | ACCEPT FINANCIAL STATEMENTS AND STATUTORY REPORTS | Management | For | For | ||||||||||||||||||||||||||||||||
2 | APPROVE ALLOCATION OF INCOME | Management | For | For | ||||||||||||||||||||||||||||||||
3 | AUTHORIZE SHARE REPURCHASE PROGRAM AND REISSUANCE OF REPURCHASED SHARES | Management | For | For | ||||||||||||||||||||||||||||||||
5 | APPROVE INTERNAL AUDITORS' REMUNERATION MANAGEMENT PROPOSALS | Management | For | For | ||||||||||||||||||||||||||||||||
6 | APPROVE AUDITORS AND AUTHORIZE BOARD TO FIX THEIR REMUNERATION | Management | For | For | ||||||||||||||||||||||||||||||||
7 | APPROVE LONG-TERM INCENTIVE PLAN | Management | For | For | ||||||||||||||||||||||||||||||||
8 | APPROVE REMUNERATION POLICY | Management | For | For | ||||||||||||||||||||||||||||||||
ENGIE SA | ||||||||||||||||||||||||||||||||||||
Security | F7629A107 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | ENGIY | Meeting Date | 17-May-2019 | |||||||||||||||||||||||||||||||||
ISIN | FR0010208488 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
O.1 | APPROVAL OF THE OPERATIONS AND CORPORATE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.2 | APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.3 | ALLOCATION OF INCOME AND SETTING OF THE DIVIDEND AMOUNT FOR THE FINANCIAL YEAR 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
O.4 | APPROVAL, PURSUANT TO ARTICLE L. 225-38 OF THE FRENCH COMMERCIAL CODE, OF THE PENSION AND HEALTH INSURANCE COVERAGE OF MR. JEAN-PIERRE CLAMADIEU, CHAIRMAN OF THE BOARD OF DIRECTORS | Management | For | For | ||||||||||||||||||||||||||||||||
O.5 | AUTHORIZATION TO BE GRANTED TO THE BOARD OF DIRECTORS TO TRADE IN THE COMPANY'S SHARES | Management | For | For | ||||||||||||||||||||||||||||||||
O.6 | RENEWAL OF THE TERM OF OFFICE OF MRS. FRANCOISE MALRIEU AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.7 | RENEWAL OF THE TERM OF OFFICE OF MRS. MARIE-JOSE NADEAU AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.8 | RENEWAL OF THE TERM OF OFFICE OF MR. PATRICE DURAND AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.9 | RENEWAL OF THE TERM OF OFFICE OF MRS. MARI- NOELLE JEGO-LAVEISSIERE AS DIRECTOR | Management | For | For | ||||||||||||||||||||||||||||||||
O.10 | APPROVAL OF THE COMPENSATION ELEMENTS DUE OR AWARDED, FOR THE PERIOD FROM 18 MAY TO 31 DECEMBER 2018, TO MR. JEAN-PIERRE CLAMADIEU, CHAIRMAN OF THE BOARD OF DIRECTORS | Management | For | For | ||||||||||||||||||||||||||||||||
O.11 | APPROVAL OF THE COMPENSATION ELEMENTS DUE OR AWARDED, FOR THE FINANCIAL YEAR 2018, TO MRS. ISABELLE KOCHER, CHIEF EXECUTIVE OFFICER | Management | For | For | ||||||||||||||||||||||||||||||||
O.12 | APPROVAL OF THE PRINCIPLES AND CRITERIA FOR DETERMINING, DISTRIBUTING AND ALLOCATING THE FIXED, VARIABLE AND EXCEPTIONAL COMPONENTS MAKING UP THE TOTAL COMPENSATION AND BENEFITS OF ANY KIND ATTRIBUTABLE TO THE CHAIRMAN OF THE BOARD OF DIRECTORS | Management | For | For | ||||||||||||||||||||||||||||||||
O.13 | APPROVAL OF THE PRINCIPLES AND CRITERIA FOR DETERMINING, DISTRIBUTING AND ALLOCATING THE FIXED, VARIABLE AND EXCEPTIONAL COMPONENTS MAKING UP THE TOTAL COMPENSATION AND BENEFITS OF ANY KIND ATTRIBUTABLE TO THE CHIEF EXECUTIVE OFFICER | Management | For | For | ||||||||||||||||||||||||||||||||
E.14 | DELEGATION OF AUTHORITY TO THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING SHARES OR TRANSFERRABLE SECURITIES GRANTING ACCESS TO EQUITY SECURITIES TO BE ISSUED, WITH CANCELLATION OF THE PRE- EMPTIVE SUBSCRIPTION RIGHT, FOR THE BENEFIT OF EMPLOYEES WHO ARE MEMBERS OF THE ENGIE GROUP'S COMPANY SAVINGS PLANS | Management | For | For | ||||||||||||||||||||||||||||||||
E.15 | DELEGATION OF AUTHORITY TO THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING SHARES OR TRANSFERRABLE SECURITIES GRANTING ACCESS TO EQUITY SECURITIES TO BE ISSUED, WITH CANCELLATION OF THE PRE- EMPTIVE SUBSCRIPTION RIGHT, IN FAVOUR OF ANY ENTITY WHOSE SOLE AIM IS TO SUBSCRIBE, HOLD AND SELL SHARES OR OTHER FINANCIAL INSTRUMENTS, AS PART OF THE IMPLEMENTATION OF THE ENGIE GROUP INTERNATIONAL EMPLOYEE SHAREHOLDING PLAN | Management | For | For | ||||||||||||||||||||||||||||||||
E.16 | POWERS FOR THE EXECUTION OF THE GENERAL MEETING'S DECISIONS AND FOR THE FORMALITIES | Management | For | For | ||||||||||||||||||||||||||||||||
TARGA RESOURCES CORP. | ||||||||||||||||||||||||||||||||||||
Security | 87612G101 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | TRGP | Meeting Date | 30-May-2019 | |||||||||||||||||||||||||||||||||
ISIN | US87612G1013 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
1.1 | Election of Directors: Waters S. Davis, IV | Management | For | For | ||||||||||||||||||||||||||||||||
1.2 | Election of Directors: Rene R. Joyce | Management | For | For | ||||||||||||||||||||||||||||||||
1.3 | Election of Directors: Chris Tong | Management | For | For | ||||||||||||||||||||||||||||||||
2. | Ratification of the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for 2019. | Management | For | For | ||||||||||||||||||||||||||||||||
3. | Approval, on an advisory basis, of the compensation of the Company's named executive officers, as disclosed in the proxy statement pursuant to the compensation disclosure rules of the SEC. | Management | For | For | ||||||||||||||||||||||||||||||||
ANTERO RESOURCES CORPORATION | ||||||||||||||||||||||||||||||||||||
Security | 03674X106 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | AR | Meeting Date | 19-Jun-2019 | |||||||||||||||||||||||||||||||||
ISIN | US03674X1063 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
1. | Election of Directors: | Management | For | For | ||||||||||||||||||||||||||||||||
01 | Robert J. Clark | |||||||||||||||||||||||||||||||||||
02 | Benjamin A. Hardesty | |||||||||||||||||||||||||||||||||||
2. | To ratify the appointment of KPMG LLP as Antero Resources Corporation's independent registered public accounting firm for the year ending December 31, 2019. | Management | For | For | ||||||||||||||||||||||||||||||||
3. | To approve, on an advisory basis, the compensation of the Company's named executive officers. | Management | For | For | ||||||||||||||||||||||||||||||||
TERRAFORM POWER INC. | ||||||||||||||||||||||||||||||||||||
Security | 88104R209 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | TERP | Meeting Date | 20-Jun-2019 | |||||||||||||||||||||||||||||||||
ISIN | US88104R2094 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
1. | Election of Directors: | Management | For | For | ||||||||||||||||||||||||||||||||
01) | Brian Lawson | |||||||||||||||||||||||||||||||||||
02) | Carolyn Burke | |||||||||||||||||||||||||||||||||||
03) | Christian S. Fong | |||||||||||||||||||||||||||||||||||
04) | Harry Goldgut | |||||||||||||||||||||||||||||||||||
05) | Richard Legault | |||||||||||||||||||||||||||||||||||
06) | Mark McFarland | |||||||||||||||||||||||||||||||||||
07) | Sachin Shah | |||||||||||||||||||||||||||||||||||
2. | Ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2019. | Management | For | For | ||||||||||||||||||||||||||||||||
3. | Non-binding advisory vote to approve named executive officer compensation. | Management | For | For | ||||||||||||||||||||||||||||||||
ATLANTICA YIELD PLC | ||||||||||||||||||||||||||||||||||||
Security | G0751N103 | Meeting Type | Annual | |||||||||||||||||||||||||||||||||
Ticker Symbol | AY | Meeting Date | 20-Jun-2019 | |||||||||||||||||||||||||||||||||
ISIN | GB00BLP5YB54 | |||||||||||||||||||||||||||||||||||
Item | Proposal | Proposed by | Vote | For/Against Management | ||||||||||||||||||||||||||||||||
1. | To receive the accounts and reports of the directors and the auditors for the year ended 31 December 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
2. | To approve the directors' remuneration report, excluding the directors' remuneration policy, for the year ended 31 December 2018 | Management | For | For | ||||||||||||||||||||||||||||||||
3. | To approve the directors' remuneration policy | Management | For | For | ||||||||||||||||||||||||||||||||
4. | To elect Santiago Seage as director of the Company | Management | For | For | ||||||||||||||||||||||||||||||||
5. | Redemption of share premium account | Management | For | For | ||||||||||||||||||||||||||||||||
6. | To authorise the Company to purchase its own shares | Management | For | For |
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TORTOISE ESSENTIAL ASSETS INCOME TERM FUND | |||
Date: August 29, 2019 | By: | /s/ P. Bradley Adams P. Bradley Adams Chief Executive Officer, Principal Financial Officer and Treasurer |