Weatherford International plc (NASDAQ: WFRD) announced that shareholders voted on redomestication proposals at meetings held June 11, but the measures requiring 75% approval did not pass despite receiving more than 60% support.

Shareholders representing approximately 89.78% of the company's 71,933,662 outstanding shares cast votes at the meetings, which included a Special Court-Convened Meeting under Irish law and the company's 2026 Annual General Meeting. All routine matters were approved, including the election of directors and ratification of KPMG as external auditor.

The redomestication proposals aimed to move the company's legal domicile from Ireland to Texas. The company said it will continue engaging with shareholders and plans to present an updated proposal to redomicile to Delaware in coming weeks.

"We are encouraged by the strong shareholder engagement and the majority support we received for the redomestication proposals," said Girish Saligram, Weatherford's President and Chief Executive Officer. "While we are disappointed that we did not achieve the 75% threshold required to move forward, the conversations held as part of our shareholder interactions and the resulting support for the proposed move back to the U.S. reinforces our conviction in the value creation potential of this initiative."

Saligram said the company expects the delay from transitioning to Delaware will not impact employees, customers, operations or anticipated financial outcomes for 2027 and beyond, assuming the redomestication is completed.

Weatherford provides energy services including drilling, completion and production optimization across the well lifecycle. The company operates globally across six continents.