CAPREIT's Annual Meeting Outcomes
On June 3, 2025, Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) held its Annual and Special Meeting of Unitholders. This meeting served as a platform to discuss and vote on strategic decisions reflected in their management information circular published prior to the event.
The turnout at this year’s meeting was impressive, with a total of 112,872,207 votes cast, representing approximately 69.81% of CAPREIT’s issued and outstanding units. This demonstrated a strong commitment from unitholders regarding the future direction of the company.
Election of Trustees
A key agenda item at the meeting was the election of trustees. All nominees listed in the circular were successfully elected, showcasing the confidence shareholders have in the proposed board members:
Lori-Ann Beausoleil: Received 112,171,872 votes in favor, accounting for 99.80% of the total votes. Only 220,024 votes were withheld.
Gina Parvaneh Cody: Garnered 108,717,949 votes (96.73%), with 3,673,947 withheld.
Mark Kenney: Secured 106,907,142 votes (95.12%), with 5,484,754 votes against.
Gervais Levasseur: Achieved 110,115,731 votes for, marking 97.97% approval.
Ken Silver: Also received 97.97% approval with 110,107,465 votes.
Jennifer Stoddart: Elected with 110,036,969 votes, amounting to 97.90%.
Elaine Todres: Garnered 106,412,821 votes (94.68%).
René Tremblay: Achieved 110,190,230 votes for, translating to 98.04% approval.
David Wesik: 110,211,572 votes in favor made up 98.06% of the total.
Appointment of Auditors
Another crucial decision was the appointment of Ernst & Young LLP as the auditors for the upcoming year. This vote received overwhelming support with 112,800,122 votes for the appointment, equating to 99.94%.
Executive Compensation Advisory Vote
The meeting included an advisory vote to accept CAPREIT’s approach to executive compensation, which passed with substantial majority support. Specifically, 102,898,491 votes (91.55%) favored the existing compensation structure, demonstrating the board's alignment with shareholder interests.
Reconfirmation of Unitholders’ Rights Plan Agreement
Unitholders also voted to reconfirm the rights plan agreement. This aspect is critical in maintaining shareholder protection and aligning interests. The agreement received 109,111,480 votes in favor, or 97.08% of the votes cast.
About CAPREIT
CAPREIT stands out as Canada’s largest publicly traded provider of quality rental housing. As of the end of March, CAPREIT had about 46,800 residential units and townhomes strategically located across Canada and the Netherlands, boasting a fair market value of approximately $14.9 billion. This robust portfolio positions CAPREIT as a leader in the rental housing market.
For more detailed information about CAPREIT's performance and its comprehensive business strategy, please visit the official CAPREIT website. Should you have queries, you can reach out to the following contacts:
For more information, please contact:
Mr. Mark Kenney
President & Chief Executive Officer
(416) 861-9404
Mr. Stephen Co
Chief Financial Officer
(416) 306-3009
Mr. Julian Schonfeldt
Chief Investment Officer
(647) 535-2544
Frequently Asked Questions
What were the main outcomes of CAPREIT's recent meeting?
The meeting confirmed the election of trustees and reappointment of auditors, along with passing resolutions on executive compensation and unitholders’ rights.
How many units were voted during the meeting?
A total of 112,872,207 units were voted, representing 69.81% of CAPREIT’s outstanding units.
Who were the newly elected trustees?
The trustees elected included Lori-Ann Beausoleil, Gina Parvaneh Cody, and several others, all receiving significant support from unitholders.
What is the significance of the advisory vote on executive compensation?
This non-binding vote reflects unitholder trust and confidence in CAPREIT's compensation practices, with 91.55% voting in favor.
What steps does CAPREIT take to maintain investor confidence?
CAPREIT continuously focuses on transparency in governance, strategic planning, and maintaining a diverse portfolio to assure investors of long-term growth.
