Baytex Reports Shareholder Meeting Results

Baytex Energy (TSX/NYSE: BTE) reported results from its annual shareholder meeting held May 7, 2026.

Rhea-AI Summary

Baytex Energy (TSX/NYSE: BTE) reported results from its annual shareholder meeting held May 7, 2026. Shareholders representing 366,618,328 common shares (50.00%) were present. All director nominees were elected, KPMG LLP was appointed auditor, and a non-binding advisory vote on executive compensation passed.

Positive

• Shareholder turnout represented 50.00% of issued common shares
• All proposed director nominees were duly elected
• KPMG LLP appointed as auditor until the next annual meeting
• Non-binding advisory resolution on executive compensation approved with 96.47% support

Negative

• None.

Argus May 8 session

-0.62% close to close Open Argus

Details

News Market Reaction – BTE

In the May 8 session, BTE declined 0.62%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms that all management proposals at Baytex’s May 7, 2026 annual meeting were...

Analysis

This announcement confirms that all management proposals at Baytex’s May 7, 2026 annual meeting were approved, including director elections, auditor appointment and a say‑on‑pay resolution with 96.47% support. It follows earlier disclosures about strategic repositioning, reserves growth and dividends over 2025–2026. Investors may watch how this refreshed board and confirmed governance framework intersect with upcoming Q1 2026 results and ongoing capital allocation, including dividends and buybacks previously highlighted.

Key Figures

Shares represented: 366,618,328 shares Participation rate: 50.00% Director support - Mark R. Bly: 330,064,127 votes (97.13%) +4 more

Shares represented

366,618,328 shares

Common shares represented at 2026 annual meeting

Participation rate

50.00%

Percent of issued and outstanding shares represented

Director support - Mark R. Bly

330,064,127 votes (97.13%)

Votes for director nominee at 2026 AGM

Director support - Chad E. Lundberg

336,811,242 votes (99.12%)

Votes for director nominee at 2026 AGM

Director support - Steve D.L. Reynish

225,412,755 votes (66.34%)

Votes for director nominee at 2026 AGM

Auditor appointment support

365,593,335 votes (99.72%)

Votes for appointing KPMG LLP as auditor

Say-on-pay support

327,816,554 votes (96.47%)

Non-binding advisory vote on executive compensation

Historical Context

5 past events · Latest: Apr 30

5 events

1. Apr 30

   Earnings call timing

   24h Move

   -1.6%

   Announcement of timing and access details for Q1 2026 results call.

2. Mar 04

   Earnings and strategy

   24h Move

   +0.0%

   Fourth quarter and 2025 results plus CEO succession and Canada focus.

3. Mar 04

   Dividend declaration

   24h Move

   +0.0%

   Announcement of quarterly cash dividend payable April 1, 2026.

4. Feb 25

   Earnings call timing

   24h Move

   -1.9%

   Scheduling details for Q4 and full‑year 2025 results call.

5. Feb 02

   Reserves and ops update

   24h Move

   +4.5%

   Report of Canadian reserves growth and 2026 production targets.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-binding advisory resolution

1 terms

non-binding advisory resolution regulatory

"A non-binding advisory resolution with respect to Baytex's approach to executive compensation was approved."

A non-binding advisory resolution is a shareholder vote that expresses investors’ opinion or recommendation but does not legally force the company to act. Think of it like a public survey: management can ignore it, but a strong vote for or against signals investor sentiment, can sway board behavior or policy decisions, and may influence market perception and future, potentially binding, actions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Calgary, Alberta--(Newsfile Corp. - May 7, 2026) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) reports that all matters presented for approval at the annual meeting of shareholders held today were approved. A total of 366,618,328 common shares being 50.00% of Baytex's issued and outstanding shares were represented at the meeting.

At the meeting, all of the nominees proposed as directors were duly elected. Results of the vote are set out below:

	Votes For
Name of Nominee	#	%
Mark R. Bly	330,064,127	97.13
Trudy M. Curran	327,288,188	96.32
Don G. Hrap	298,160,823	87.75
Chad E. Lundberg	336,811,242	99.12
Jennifer A. Maki	336,277,254	98.96
David L. Pearce	336,606,390	99.06
Steve D.L. Reynish	225,412,755	66.34
Jeffrey E. Wojahn	324,870,062	95.61

 

KPMG LLP was appointed as Baytex's auditor until the next annual meeting of its shareholders, and the directors were authorized to fix their remuneration. The result of the vote is as follows:

Votes For
#	%
365,593,335	99.72

 

A non-binding advisory resolution with respect to Baytex's approach to executive compensation was approved. The result of the vote is as follows:

Votes For
#	%
327,816,554	96.47

 

Baytex Energy Corp. is an energy company with headquarters based in Calgary, Alberta. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com or contact:

Brian Ector, Senior Vice President, Capital Markets & Investor Relations

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296607

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Baytex (BTE) shares were represented at the May 7, 2026 annual meeting?

A total of 366,618,328 common shares were represented, equal to 50.00% of issued and outstanding shares. According to the company, this attendance covered half of Baytex's outstanding share capital at the meeting.

Were Baytex (BTE) director nominees elected at the May 7, 2026 meeting?

Yes, all nominees were duly elected at the meeting. According to the company, individual vote tallies ranged from 66.34% to 99.12% in favour for listed nominees.

Who was appointed auditor for Baytex (BTE) at the May 7, 2026 meeting?

KPMG LLP was appointed as Baytex's auditor until the next annual meeting. According to the company, the directors were also authorized to fix the auditor's remuneration.

What was the vote result for Baytex (BTE)'s advisory resolution on executive compensation?

The non-binding advisory resolution received 327,816,554 votes for (96.47%). According to the company, shareholders expressed broad support for the approach to executive compensation.

Where can investors find more information about Baytex (BTE) following the May 7, 2026 meeting?

Investors can visit www.baytexenergy.com or contact Investor Relations via investor@baytexenergy.com. According to the company, further details and the source release are available online for review.