Magna Announces 2026 Annual Meeting Results

Magna (TSX: MG; NYSE: MGA) reported results from its May 4, 2026 annual meeting.

(Neutral)

Rhea-AI Summary

Magna (TSX: MG; NYSE: MGA) reported results from its May 4, 2026 annual meeting. 218,968,145 shares (79.21% outstanding) were represented. All 12 director nominees were elected with voting support ranging from 96.43% to 99.64%. Deloitte was reappointed auditor and the Say on Pay advisory vote passed with 89.66% support. The Board confirmed Robert F. MacLellan as Chair and announced several committee chair appointments effective immediately; Dr. Indira V. Samarasekera retired after 12 years.

Positive

All 12 directors elected with >=96.43% support
Deloitte reappointed as auditor with 98.57% support
Say on Pay advisory vote approved with 89.66% support
218,968,145 shares represented (79.21% of outstanding)
Board confirmed Robert F. MacLellan as Chair

Negative

Say on Pay received comparatively lower 89.66% support

Argus May 5 session

+0.86% close to close Open Argus

Details

News Market Reaction – MGA

In the May 5 session, MGA gained 0.86%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details the 2026 annual meeting results, with 79.21% of Common Shares represented ...

Analysis

This announcement details the 2026 annual meeting results, with 79.21% of Common Shares represented and all 12 director nominees elected by substantial majorities. Shareholders also strongly backed the auditor reappointment and “Say on Pay” resolution. Set against recent events like Q1 2026 earnings and portfolio divestiture plans, the meeting underscores continuity in governance and board oversight. Investors may watch future disclosures, execution on divestitures, and capital allocation for additional context.

Key Figures

Shares represented: 218,968,145 Common Shares Participation rate: 79.21% of issued and outstanding shares Director support: Mary S. Chan 98.60% FOR +5 more

Shares represented: 218,968,145 Common Shares; 2026 annual meeting attendance
Participation rate: 79.21% of issued and outstanding shares; 2026 annual meeting quorum
Director support: Mary S. Chan 98.60% FOR; Election of directors, 2026 meeting
Director support: Seetarama S. Kotagiri 99.64% FOR; Election of directors, 2026 meeting
Director support: Peter Sklar 99.64% FOR; Election of directors, 2026 meeting
Auditor reappointment: 98.57% FOR; Reappointment of Deloitte as independent auditor
Say on Pay support: 89.66% FOR; Advisory vote on executive compensation
Price vs 52-week high: -14.87%; Relative to 52-week high of 69.94 before news

Historical Context

5 past events · Latest: May 01

5 events

May 01
Earnings results

24h Move

-4.5%

Strong Q1 2026 sales, margin and EPS growth with maintained guidance.
Apr 13
Earnings webcast date

24h Move

-0.8%

Announcement of schedule and access details for Q1 2026 results webcast.
Apr 09
Business divestiture

24h Move

+0.8%

Agreements to sell Lighting and Rooftop Systems businesses without EPS outlook impact.
Mar 27
Annual report filing

24h Move

-1.8%

Publication of 2025 Annual Report and confirmation of virtual annual meeting date.
Mar 24
Product launch

24h Move

+1.9%

Launch of DHD REX hybrid drive targeting range‑extended electric vehicles.

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

Key Terms

say on pay

1 terms

say on pay financial

"Say on Pay | 89.66%"

Say on pay is a shareholder vote—typically nonbinding—on a company’s executive compensation package, allowing investors to approve or reject how top managers are paid. Think of it as a public performance review: widespread disapproval can signal poor governance, prompt changes to pay practices, attract activist investors, and influence investor confidence and share value. It matters because it gives owners a direct way to influence compensation that affects company incentives and long-term performance.

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

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05/04/2026 - 07:03 PM

AURORA, Ontario, May 04, 2026 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2026 annual meeting of shareholders held on May 4, 2026. A total of 218,968,145 Common Shares or 79.21% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows:

a. Election of Directors

Nominee	Votes FOR	Nominee	Votes FOR
Mary S. Chan	98.60%	Mary Lou Maher	99.62%
Hon. V. Peter Harder	96.93%	William A. Ruh	96.43%
Jan R. Hauser	99.51%	Peter Sklar	99.64%
Seetarama S. Kotagiri (CEO)	99.64%	Matthew Tsien	98.28%
Jay K. Kunkel	99.61%	Dr. Thomas Weber	98.51%
Robert F. MacLellan	99.28%	Lisa S. Westlake	98.28%

b. Other Items of Business

Item	Votes FOR
Reappointment of Deloitte	98.57%
Say on Pay	89.66%

Based on the voting results, all 12 nominees were elected to the Board, Deloitte was reappointed as independent auditor, and the “Say on Pay” resolution was approved – in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.

Following the annual meeting, Magna’s Board confirmed:

Robert F. MacLellan as Board Chair;
Mary Lou Maher as Audit Committee Chair; and
Hon. V. Peter Harder as Governance, Nominating and Sustainability Committee Chair.

Additionally, with the retirement of Dr. Indira V. Samarasekera from the Board after 12 years, the Board made the following Committee Chair appointments, effective immediately:

William A. Ruh as Talent Oversight and Compensation Committee Chair; and
Matthew Tsien as Technology Committee Chair.

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com │ 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & PR
tracy.fuerst@magna.com │ 248.761.7004

ABOUT MAGNA
Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets—North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle system technologies to deliver performance, safety, and quality.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.

Appendix “A”

VOTING RESULTS - 2026 ANNUAL MEETING OF SHAREHOLDERS

Resolution	Votes For		Votes Withheld/Against
	#	%	#	%
Elect Mary S. Chan as Director	209,236,245	98.60%	2,965,784	1.40%
Elect Hon. V. Peter Harder as Director	205,688,562	96.93%	6,513,465	3.07%
Elect Jan R. Hauser as Director	211,168,283	99.51%	1,033,744	0.49%
Elect Seetarama S. Kotagiri (CEO) as Director	211,434,671	99.64%	767,357	0.36%
Elect Jay K. Kunkel as Director	211,378,962	99.61%	823,066	0.39%
Elect Robert F. MacLellan as Director	210,664,274	99.28%	1,537,753	0.72%
Elect Mary Lou Maher as Director	211,399,399	99.62%	802,630	0.38%
Elect William A. Ruh as Director	204,629,951	96.43%	7,572,076	3.57%
Elect Peter Sklar as Director	211,428,877	99.64%	773,151	0.36%
Elect Matthew Tsien as Director	208,555,817	98.28%	3,646,211	1.72%
Elect Dr. Thomas Weber as Director	209,030,974	98.51%	3,171,033	1.49%
Elect Lisa S. Westlake as Director	208,547,329	98.28%	3,654,699	1.72%
Re-Appointment of Deloitte LLP as Auditor	215,827,447	98.57%	3,140,698	1.43%
Advisory Resolution on Executive Compensation	190,258,324	89.66%	21,943,700	10.34%

FAQ

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

How many Magna (MGA) shares were represented at the May 4, 2026 annual meeting?

218,968,145 Magna common shares were represented, equal to 79.21% of outstanding shares. According to Magna, representation was in person or by proxy, indicating substantial shareholder participation at the May 4, 2026 meeting.

Were Magna’s board nominees elected at the May 4, 2026 meeting (MGA)?

Yes, all 12 director nominees were elected at the May 4, 2026 meeting. According to Magna, each nominee received between 96.43% and 99.64% votes in favor and were confirmed to the board by shareholder vote.

What was the outcome of the Say on Pay vote for Magna (MGA) on May 4, 2026?

The Say on Pay advisory resolution was approved with 89.66% votes in favor on May 4, 2026. According to Magna, the result was a substantial majority, though lower than several other meeting items.

Did Magna (MGA) reappoint its auditor at the May 4, 2026 meeting?

Yes, Deloitte was reappointed as Magna’s independent auditor with 98.57% of votes in favor. According to Magna, shareholders approved Deloitte’s reappointment during the annual meeting held on May 4, 2026.

What board leadership changes did Magna (MGA) announce after the May 4, 2026 meeting?

Magna confirmed Robert F. MacLellan as Board Chair and named new committee chairs effective immediately. According to Magna, Mary Lou Maher, Hon. V. Peter Harder, William A. Ruh, and Matthew Tsien received committee appointments following the meeting.

Magna Announces 2026 Annual Meeting Results