Shareholders of Retail FX and CFD broker Plus500 (LON:PLUS) overwhelmingly approved all resolutions put forth at the company’s annual general meeting held (virtually) earlier today.

With the exception of the re-election of Plus500 board chair Penelope Judd and director Steven Baldwin, all resolutions passed with at least 94% of the votes in favor. That includes the re-election of the other company directors (including CEO David Zruia and CFO Elad Even-Chen), possible issuances of equity or debt for acquisitions, continued share repurchases, executive compensation practices, and other items (see table below).

The only resolutions which hit some headwinds was Ms. Judd’s re-election as chair, which passed but with just 84% of the votes in favor (low by AGM standards), and Mr. Baldwin’s re-election as a director which received just over 90% approval.

As we wrote this morning, a number of UK shareholder services were recommending to vote against some of the board proposals, including certain management bonuses and Ms. Judd’s re-election.

However, given Plus500’s recent performance with the company reporting record results and unprecedented new client sign-up, it isn’t surprising that shareholders were more or less fine with what the board and management were proposing.

Interestingly, the company decided to remove one of the resolutions, regarding a special $1.2 million bonus to be paid to CFO Elad Even-Chen. The feeling was that there was sufficient opposition to the bonus, proposed due to Mr. Even-Chen’s work on taxes which the company claimed saved Plus500 in the neighborhood of $100 million. The board noted that it will work with shareholders to find a resolution to the bonus situation.

The following summarize the votes taken at Plus500’s AGM today, and the results.

Resolutions

For

% Votes cast

Against

% Votes cast

1.  Re-elect Penelope Judd

56,221,656

84.21

10,544,212

15.79

2.  Re-elect Gal Haber

65,179,285

97.03

1,996,696

2.97

3.  Re-elect David Zruia

67,137,797

99.15

578,184

0.85

4.  Re-elect Elad Even-Chen

66,095,044

97.61

1,620,937

2.39

5.  Re-elect Steven Baldwin

61,356,638

90.91

6,135,229

9.09

6.  Elect Anne Grim

67,623,565

99.81

123,901

0.19

7.  Re-appoint the auditors

66,655,778

98.43

1,060,203

1.57

8.   Authorise Board to fix remuneration of auditors

64,314,671

94.98

3,401,310

5.02

9.   Authorise issue of equity

66,959,494

98.88

756,487

1.12

10. Authorise issue of equity for acquisitions or debt reduction

65,545,325

96.79

2,170,656

3.21

11. Purchase own shares

67,478,074

99.98

11,829

0.02

12. Amend the Company’s Articles of Association to increase size of Board

67,189,903

99.22

526,078

0.78

13. Amend Remuneration Policy

64,445,724

95.44

3,077,629

4.56

14. Approve fees to Anne Grim

67,747,466

100

0

0

15. Approve increase in fees to Steven Baldwin

67,383,802

99.51

331,969

0.49

16. Approve increase in fees to Daniel King

67,383,802

99.51

331,969

0.49

18. Approve increase in salary to David Zruia

67,220,665

99.22

526,591

0.78

19. Approve grant of RSU to David Zruia

65,457,861

96.62

2,289,395

3.38