Shopify Announces Results of its 2025 Annual Meeting of Shareholders

Rhea-AI Summary

Shopify (SHOP) held its 2025 Annual Meeting of Shareholders on June 17, where all ten director nominees were successfully elected to the Board of Directors. PricewaterhouseCoopers LLP was reappointed as auditors with 99.35% approval. The non-binding advisory vote on executive compensation passed with 62.33% support, though notably received significant opposition with 37.67% votes against. Key director voting results showed strong support for most nominees, with Lulu Cheng Meservey and David Heinemeier Hansson receiving 99.81% approval each. However, some directors faced notable opposition, with Gail Goodman receiving 75.71% approval and Fidji Simo receiving 83.76%. Tobias Lütke will continue as Board Chair, while Joe Natale will serve as Lead Independent Director.

Internet, Everywhere--(Newsfile Corp. - June 18, 2025) - Shopify Inc. (NASDAQ, TSX: SHOP), announced today the results of its annual meeting of shareholders held on June 17, 2025. All director nominees were elected to the Board of Directors and PricewaterhouseCoopers LLP were appointed as Shopify's auditors. In addition, shareholders approved the non-binding advisory resolution on Shopify's approach to executive compensation, as further described in Shopify's management information circular dated April 7, 2025.

The detailed results of the meeting were as follows:

1. Election of Directors

Each of the ten (10) nominees for director were elected by a majority of the votes cast by shareholders present or represented by proxy at the meeting. The votes cast for each nominee were as follows:

Director	Votes for	% of Votes for	Votes Against	% of Votes Against
Tobias Lütke	1,676,977,579	98.18%	31,136,925	1.82%
Lulu Cheng Meservey	1,704,810,215	99.81%	3,304,289	0.19%
Gail Goodman	1,293,245,116	75.71%	414,869,388	24.29%
David Heinemeier Hansson	1,704,845,375	99.81%	3,269,129	0.19%
Jeremy Levine	1,610,300,766	94.27%	97,813,738	5.73%
Prashanth Mahendra-Rajah	1,697,583,779	99.38%	10,530,676	0.62%
Joe Natale	1,667,914,523	97.65%	40,199,981	2.35%
Kevin Scott	1,702,755,451	99.69%	5,358,884	0.31%
Toby Shannan	1,702,794,212	99.69%	5,320,292	0.31%
Fidji Simo	1,430,792,451	83.76%	277,322,053	16.24%

 

2. Appointment of Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP were appointed as Shopify's auditors by a majority of the votes cast by shareholders present or represented by proxy at the meeting, and the directors were authorized to fix the auditors' compensation. The votes were cast as follows:

Votes for	% of Votes for	Votes Withheld	% of Votes Withheld
1,780,900,707	99.35%	11,673,409	0.65%

 

3. Non-binding Advisory Vote on Executive Compensation

The non-binding advisory resolution on Shopify's approach to executive compensation was approved by a majority of the votes cast by shareholders present or represented by proxy at the meeting. The votes were cast as follows:

Votes for	% of Votes for	Votes Against	% of Votes Against
1,064,652,087	62.33%	643,461,082	37.67%

 

Following the meeting, the Board of Directors intends to select Tobias Lütke to continue to serve as Chair of the Board of Directors and Joe Natale to serve as Lead Independent Director.

About Shopify

Shopify is a leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more.

For more information visit www.shopify.com

CONTACT INVESTORS:		CONTACT MEDIA:
Carrie Gillard		Stephanie Ross
Director, Investor Relations		Lead, Communications
IR@shopify.com		press@shopify.com

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255882

FAQ

What were the key results of Shopify's 2025 Annual Meeting of Shareholders?

All ten director nominees were elected, PricewaterhouseCoopers LLP was appointed as auditor with 99.35% approval, and the executive compensation proposal passed with 62.33% support.

Who received the highest and lowest approval rates among Shopify's director nominees in 2025?

Lulu Cheng Meservey and David Heinemeier Hansson received the highest approval at 99.81% each, while Gail Goodman received the lowest at 75.71%.

What was the voting result for SHOP's executive compensation proposal in 2025?

The non-binding advisory vote on executive compensation was approved with 62.33% votes in favor and 37.67% votes against.

Who will serve as Shopify's Board Chair and Lead Independent Director?

Tobias Lütke will continue as Board Chair, and Joe Natale will serve as Lead Independent Director.