NL Industries (NYSE: NL) wins strong support for Delaware reincorporation and declares $0.10 dividend
Rhea-AI Filing Summary
NL Industries, Inc. reported the results of its 2026 annual shareholder meeting and a new dividend. Shareholders elected eight directors, each receiving at least 89.1% support from shares eligible to vote. A nonbinding advisory resolution approving executive compensation also passed with 89.1% approval.
Investors strongly backed a plan to reincorporate from New Jersey to Delaware through a merger with wholly owned subsidiary NLI Holdings, Inc., which will also become the new corporate name. The reincorporation proposal received 95.1% approval from eligible shares, including 71.6% of shares not beneficially owned by controlling stockholder Valhi, Inc.
Shareholders also approved including a provision in the new Delaware charter opting out of Section 203 of the Delaware General Corporation Law, and authorized potential adjournments if more time were needed to secure votes. Separately, the board declared a quarterly dividend of $0.10 per share, payable on June 23, 2026, to shareholders of record on June 4, 2026.
Positive
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Negative
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Insights
NL gains strong support for Delaware move and maintains its dividend.
NL Industries obtained very high shareholder approval to reincorporate in Delaware and change its name to NLI Holdings, Inc. This shift typically reflects a preference for Delaware’s well-established corporate law and may provide more flexibility in structuring governance.
The filing notes that 71.6% of shares not beneficially owned by controlling stockholder Valhi, Inc. supported the reincorporation, indicating broad minority shareholder backing. At the same time, shareholders opted out of Delaware’s Section 203 anti-takeover statute via a charter provision, slightly changing the balance of takeover protections.
The company also declared a quarterly dividend of $0.10 per share with a payment date of June 23, 2026, signaling continuity in capital returns. Future disclosures in company filings may provide more detail on how the new Delaware structure and name change interact with NL’s existing component products and chemicals businesses.
8-K Event Classification
Key Figures
Key Terms
Reincorporation Proposal regulatory
Section 203 of the Delaware General Corporation Law regulatory
Say-on-Pay, Nonbinding Advisory Vote Approving Executive Compensation financial
Adjournment Proposal regulatory
emerging growth company regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.07 | Submission of Matters to a Vote of Security Holders. |
NL Industries, Inc., a New Jersey corporation (“NL” or the “registrant”) held its 2026 annual meeting of shareholders on May 14, 2026. At the 2026 annual meeting, the registrant’s shareholders voted on the five proposals described in detail in the registrant’s definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on March 25, 2026. Shareholders present at the 2026 annual meeting, either in person or by proxy, represented 95.2% of the 48,862,734 shares eligible to vote at the meeting.
Proposal 1: Election of Directors
The registrant’s shareholders elected Ms. Loretta J. Feehan, Mr. John E. Harper, Mr. Kevin B. Kramer, Ms. Meredith W. Mendes, Mr. Cecil H. Moore, Jr., Ms. Courtney J. Riley, Mr. Michael S. Simmons and Dr. R. Gerald Turner as directors. Each director nominee received votes “For” his or her election from at least 89.1% of the shares eligible to vote at the annual meeting.
Proposal 2: Say-on-Pay, Nonbinding Advisory Vote Approving Executive Compensation
The registrant’s shareholders adopted a resolution, on a nonbinding advisory basis, approving the compensation of the registrant’s named executive officers as described in the registrant’s 2026 proxy statement. The resolution received the approval from 89.1% of the shares eligible to vote at the annual meeting.
PROPOSAL 3: REINCORPORATION PROPOSAL
The registrant’s shareholders approved the Agreement and Plan of Merger (the “Plan of Merger”) between NL and its wholly owned Delaware subsidiary, NLI Holdings, Inc. (“NL-Delaware”), pursuant to which NL will merge with and into NL-Delaware for the purpose of changing NL’s state of domicile from New Jersey to Delaware, including the approval of the Certificate of Incorporation of NL-Delaware and the change of NL’s name to NLI Holdings, Inc. (the “Reincorporation Proposal”). The Reincorporation Proposal received the approval from 95.1% of the shares eligible to vote at the annual meeting. Votes were cast on the proposal as follows:
For | Against | Abstained | Broker Non-Votes |
46,457,955 | 36,434 | 9,639 | 0 |
Under the Plan of Merger, the approval of the holders of two-thirds of the voting stock of NL not beneficially owned by NL’s controlling stockholder, Valhi, Inc. (“Valhi”), is also a condition to consummation of the merger and reincorporation contemplated by the Reincorporation Proposal. The Reincorporation Proposal received approval from 71.6% of the shares eligible to vote at the annual meeting that are not beneficially owned by Valhi.
PROPOSAL 4: OPT OUT PROPOSAL
The registrant’s shareholders approved, in connection with the Reincorporation Proposal, the inclusion in the Delaware Certificate of Incorporation of NL-Delaware of a provision opting out of Section 203 of the Delaware General Corporation Law (the “Opt Out Proposal”). The Reincorporation Proposal received the approval from 95.1% of the shares eligible to vote at the annual meeting. Votes were cast on the proposal as follows:
For | Against | Abstained | Broker Non-Votes |
46,446,223 | 43,704 | 14,101 | 0 |
PROPOSAL 5: ADJOURNMENT PROPOSAL
The registrant’s shareholders approved one or more adjournments of the annual meeting to a later date or dates, if necessary, to permit further solicitations of proxies in the event there are not sufficient votes in favor of the
Reincorporation Proposal (the “Adjournment Proposal”). The Adjournment Proposal received the approval from 94.8% of the shares eligible to vote at the annual meeting. Votes were cast on the proposal as follows:
For | Against | Abstained | Broker Non-Votes |
46,327,847 | 166,856 | 9,225 | 0 |
Item 7.01 | Regulation FD Disclosure. |
The registrant hereby furnishes the information set forth in its press release issued on May 14, 2026, a copy of which is attached as Exhibit 99.1 and incorporated herein by reference. The information the registrant furnishes in this report under this Item 7.01, and the exhibit in Item 9.01, is not deemed “filed” for purposes of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Registration statements or other documents filed with the U.S. Securities and Exchange Commission shall not incorporate this information by reference, except as otherwise expressly stated in such filing.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits | ||
Item No. | Description | ||
99.1 | Press release dated May 14, 2026 issued by the registrant. | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NL INDUSTRIES, INC. | |
(Registrant) | |
Date: May 14, 2026 | By: /s/Amy A. Samford |
Amy A. Samford | |
Executive Vice President and |
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NL INDUSTRIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND RESULTS OF
ANNUAL SHAREHOLDER MEETING
DALLAS, TEXAS – May 14, 2026 – NL Industries, Inc. (NYSE: NL) announced that its board of directors has declared a quarterly dividend of ten cents ($0.10) per share on its common stock, payable on June 23, 2026 to shareholders of record at the close of business on June 4, 2026.
NL Industries also announced that at its 2026 annual shareholder meeting held today its shareholders had:
| ● | elected each of Loretta J. Feehan, John E. Harper, Kevin B. Kramer, Meredith W. Mendes, Cecil H. Moore, Jr., Courtney J. Riley, Michael S. Simmons and R. Gerald Turner as a director for a one-year term; |
| ● | adopted a resolution that approved, on a nonbinding advisory basis, the compensation of its named executive officers as disclosed in the proxy statement for the 2026 annual shareholder meeting; and |
| ● | approved the reincorporation of NL Industries from New Jersey to Delaware, by means of its merger with its newly formed, wholly owned Delaware subsidiary, NLI Holdings, Inc., which will be the surviving corporation and be named NLI Holdings, Inc. after the merger. |
NL Industries currently expects the reincorporation merger and resulting name change to be effective on or about May 26, 2026.
NL Industries, Inc. is engaged in the component products (security products and recreational marine components) and chemicals (TiO2) businesses.
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Investor Relations Contact
Bryan A. Hanley
Senior Vice President and Treasurer
Tel. 972-233-1700