Edwards Lifesciences (EW) board authorized additional $1 billion for share repurchases

Edwards Lifesciences Corporation (NYSE: EW) today announced updates from its annual meeting, in which Edwards' stockholders voted with the board's recommendations on all proxy proposals:

• All eight director nominees were elected as directors of the company for a one-year term;
• Stockholders advised that they approve the compensation of the company's named executive officers;
• Stockholders have approved the Amendment and Restatement of the company's U.S. and International Employee Stock Purchase Plans;
• Stockholders have ratified the appointment of the company's independent registered public accounting firm for fiscal year 2021;
• Stockholders have advised that they do not approve the stockholder proposal regarding action by written consent; and
• Stockholders have advised that they do not approve the stockholder proposal to adopt a policy to include non-management employees as prospective director candidates.

During the meeting, the company also announced changes to the company's board of directors. Nicholas J. Valeriani, a director since 2014, has been appointed chair of the compensation and governance committee. William J. Link, Ph.D., who has been a director since 2009, has retired from the board.

"I'd like to take this opportunity to thank and recognize Bill for his 12 years of contributions and insight in his service to Edwards' board," said Michael A. Mussallem, Edwards' chairman and CEO. "I am grateful to Bill for his dedication and guidance during an immense period of growth for Edwards."

The company also announced today that the board of directors authorized an additional $1 billion for repurchases of the company's outstanding shares of common stock under its share repurchase program. As of May 1, 2021, a total of $262 million authorization remains under the program. This authorization enables the company to repurchase shares to continue executing its capital allocation strategies. The company may repurchase shares in the open market or in privately negotiated transactions. The timing and extent of any repurchase will depend upon market conditions, corporate requirements and other factors.

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