Valero Energy (NYSE: VLO) reports 2026 vote results and director stock grants

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Valero Energy Corporation reported several governance updates. Senior Vice President Eric A. Fisher informed the company on May 7, 2026 that he intends to retire on or about July 1, 2026 and will help transition his responsibilities as part of Valero’s succession plan.

At the 2026 annual meeting, stockholders re-elected all director nominees, with support ranging from 94.59% for Deborah P. Majoras to 99.55% for Robert L. Reymond. Stockholders also approved the 2025 executive compensation advisory vote with 92.23% of votes cast in favor and ratified KPMG LLP as independent auditor for 2026 with 96.54% support.

Effective May 7, 2026, each re-elected non-employee director received a stock unit award valued at $200,000 under Valero’s director compensation program. Each stock unit represents one share of Valero common stock, is scheduled to vest at the 2027 annual meeting, and is subject to an additional one-year holding period.

8-K Event Classification

4 items: 5.02, 5.07, 8.01, 9.01

4 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 5.07 Submission of Matters to a Vote of Security Holders Governance

Results of a shareholder vote on proposals at an annual or special meeting.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Say-on-pay support: 219,278,133 votes (92.23%) for Auditor ratification support: 260,740,157 votes (96.54%) for Highest director support: 236,298,023 votes (99.55%) for +2 more

5 metrics

Say-on-pay support 219,278,133 votes (92.23%) for Advisory vote on 2025 executive compensation, Proposal 2

Auditor ratification support 260,740,157 votes (96.54%) for Ratification of KPMG LLP for fiscal year ending December 31, 2026

Highest director support 236,298,023 votes (99.55%) for Election of director Robert L. Reymond

Lowest director support 224,554,250 votes (94.59%) for Election of director Deborah P. Majoras

Director stock unit grant size $200,000 Value of stock unit awards for each re-elected non-employee director, effective May 7, 2026

Key Terms

broker non-vote, majority of votes cast, Accounting Standards Codification Topic 718, stock unit, +1 more

5 terms

broker non-vote financial

"This results in a “broker non-vote” on the proposal."

majority of votes cast financial

"each director is to be elected by a majority of votes cast"

Accounting Standards Codification Topic 718 financial

"calculated pursuant to Financial Accounting Standards Board Accounting Standards Codification Topic 718"

stock unit financial

"Each stock unit represents the right to receive one share of Valero common"

non-employee director compensation program financial

"represents the equity portion of Valero’s non-employee director compensation program."

Understanding 8-K Material Events →

05/08/2026 - 02:55 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 7, 2026

VALERO ENERGY CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

001-13175

74-1828067

(State or other jurisdiction
of incorporation)

(Commission
File Number)

(I.R.S. Employer
Identification No.)

One Valero Way

San Antonio, Texas 78249

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (210) 345-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock,
par value $0.01 per share

VLO

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 7, 2026, Eric A. Fisher, Senior Vice President Product Supply, Trading and Wholesale of Valero Energy Corporation (“Valero”), informed Valero that he intends to retire on or about July 1, 2026. In the interim, Mr. Fisher plans to help transition his responsibilities internally as part of Valero’s succession plan.

Item 5.07Submission of Matters to a Vote of Security Holders.

The 2026 annual meeting of Valero’s stockholders was held on May 7, 2026. A quorum was present at the annual meeting as required by Valero’s bylaws. Set forth below are the final voting results on the matters voted on at the annual meeting, each of which were also described in Valero’s definitive proxy statement filed with the Securities and Exchange Commission on March 19, 2026 (“Proxy Statement”).

(1)Proposal 1: Election of directors. The election of each director nominee to serve until Valero’s 2027 annual meeting of stockholders was approved as follows:


Fred M. Diaz	shares voted	required vote *		vote received
for	235,395,943	>50.0	%		99.17	%
against	1,968,115
abstain	365,473
broker non-votes	32,350,874

H. Paulett Eberhart	shares voted	required vote *		vote received
for	227,805,828	>50.0	%		95.96	%
against	9,568,953
abstain	354,750
broker non-votes	32,350,874

Marie A. Ffolkes	shares voted	required vote *		vote received
for	235,148,172	>50.0	%		99.05	%
against	2,237,440
abstain	343,919
broker non-votes	32,350,874

Kimberly S. Greene	shares voted	required vote *		vote received
for	232,851,492	>50.0	%		98.15	%
against	4,387,039
abstain	491,000
broker non-votes	32,350,874


Deborah P. Majoras	shares voted	required vote *		vote received
for	224,554,250	>50.0	%		94.59	%
against	12,826,398
abstain	348,883
broker non-votes	32,350,874

Eric D. Mullins	shares voted	required vote *		vote received
for	235,492,696	>50.0	%		99.20	%
against	1,876,549
abstain	360,286
broker non-votes	32,350,874

Robert L. Reymond	shares voted	required vote *		vote received
for	236,298,023	>50.0	%		99.55	%
against	1,064,736
abstain	366,772
broker non-votes	32,350,874

R. Lane Riggs	shares voted	required vote *		vote received
for	229,163,793	>50.0	%		96.58	%
against	8,096,773
abstain	468,965
broker non-votes	32,350,874

Randall J. Weisenburger	shares voted	required vote *		vote received
for	227,949,897	>50.0	%		96.03	%
against	9,414,734
abstain	364,900
broker non-votes	32,350,874

Rayford Wilkins, Jr.	shares voted	required vote *		vote received
for	225,849,760	>50.0	%		95.15	%
against	11,509,989
abstain	369,782
broker non-votes	32,350,874

(2)Proposal 2: Advisory vote to approve the 2025 compensation of Valero’s named executive officers, as described in the Proxy Statement. The proposal was approved as follows:


Proposal 2	shares voted	required vote *		vote received
for	219,278,133	>50.0	%		92.23	%
against	17,564,158
abstain	887,240
broker non-votes	32,350,874

(3)Proposal 3: Ratify the appointment of KPMG LLP to serve as Valero’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The proposal was approved as follows:

Proposal 3

shares voted

required vote *

vote received

for

260,740,157

>50.0

96.54

against

8,874,264

abstain

465,984

broker non-votes

n/a

* Notes:

Required votes. For Proposal 1, as required by Valero’s bylaws, each director is to be elected by a majority of votes cast with respect to that director’s election. Any director nominee who does not receive a majority of the votes cast is required to submit an irrevocable resignation to the Board, and the Nominating and Corporate Governance Committee will make a recommendation to the Board as to whether to accept or reject the resignation or take other action. The Board will, within 90 days following certification of the election results, publicly disclose its decision regarding any such resignation and the rationale behind the decision. Proposals 2 and 3 required approval by the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at the annual meeting and entitled to vote.

Effect of abstentions. Shares voted to abstain are treated as “present” for purposes of determining a quorum. In the election of directors (Proposal 1), pursuant to Valero’s bylaws, shares voted to abstain are not deemed to be “votes cast,” and are accordingly disregarded. When, however, approval for a proposal requires the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy and entitled to vote (Proposals 2 and 3), then shares voted to abstain have the effect of a negative vote.

Effect of broker non-votes. Brokers holding shares for the beneficial owners of such shares must vote according to specific instructions received from the beneficial owners. If instructions are not received, in some instances (e.g., for Proposal 3), a broker may nevertheless vote the shares in the broker’s discretion. Under New York Stock Exchange rules, brokers are precluded from exercising voting discretion on certain proposals without specific instructions from the beneficial owner (Proposals 1 and 2). This results in a “broker non-vote” on the proposal. A broker non-vote is treated as “present” for purposes of determining a quorum, has the effect of a negative vote when approval for a particular proposal requires the affirmative vote of the voting power of the issued and outstanding shares of Valero, and has no effect when approval for a proposal requires the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy and entitled to vote or a plurality or majority of the votes cast.

Item 8.01Other Events.

Effective on May 7, 2026, Valero entered into a Stock Unit Award Agreement with each of its non-employee directors who was re-elected at Valero’s 2026 annual meeting of stockholders. The grant of stock units, valued at $200,000 calculated pursuant to Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation—Stock Compensation (with the number of units rounded up to avoid fractional units), represents the equity portion of Valero’s non-employee director compensation program. Each stock unit represents the right to receive one share of Valero common

stock, and is scheduled to vest (become nonforfeitable) on the date of Valero’s 2027 annual meeting of stockholders, subject to an additional one-year holding period. The foregoing description of the stock units is qualified in its entirety by reference to the full text of the agreement governing the awards, the form of which is attached as Exhibit 10.01 to this current report on Form 8-K and is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.						Description

10.01						Form of Stock Unit Award Agreement for Non-Employee Directors (with one-year hold provision)–incorporated by reference to Exhibit 10.01 to Valero’s current report on Form 8-K dated May 15, 2024, and filed May 20, 2024 (SEC File No. 001-13175).













104						Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			VALERO ENERGY CORPORATION (Registrant)


Date:	May 8, 2026	By:	/s/ Richard J. Walsh
			Richard J. Walsh
			Executive Vice President and General Counsel

Source: View Original Filing on SEC EDGAR

FAQ

What executive leadership change did Valero Energy (VLO) disclose in this 8-K?

Valero disclosed that Senior Vice President Eric A. Fisher plans to retire on or about July 1, 2026. He will assist with transitioning his responsibilities internally as part of Valero’s succession plan following his notice given on May 7, 2026.

How did Valero Energy (VLO) shareholders vote on the 2025 executive compensation?

Shareholders approved Valero’s 2025 named executive officer compensation in a non-binding advisory vote. The proposal received 219,278,133 votes for, representing 92.23% of votes cast, with 17,564,158 against and 887,240 abstentions, plus 32,350,874 broker non-votes.

Which audit firm did Valero Energy (VLO) shareholders ratify for fiscal 2026?

Shareholders ratified KPMG LLP as Valero’s independent registered public accounting firm for the year ending December 31, 2026. Proposal 3 received 260,740,157 votes for (96.54%), 8,874,264 against, and 465,984 abstentions, with broker non-votes not applicable to this item.

What stock-based compensation did Valero (VLO) non-employee directors receive?

Effective May 7, 2026, each re-elected non-employee director received stock units valued at $200,000, calculated under FASB ASC Topic 718. Each stock unit equals one share of Valero common stock, vests at the 2027 annual meeting, and then carries an additional one-year holding period.

How strong was shareholder support for Valero (VLO) director elections in 2026?

All Valero director nominees were re-elected with high support levels. For example, Robert L. Reymond received 236,298,023 votes for, or 99.55%, while Deborah P. Majoras received 224,554,250 votes for, or 94.59%, alongside broker non-votes recorded for each director.

How does Valero (VLO) treat abstentions and broker non-votes in shareholder voting?

Abstentions are counted as present for quorum. For director elections, they are not treated as votes cast. For proposals needing a majority of shares present and entitled to vote, abstentions count like negative votes. Broker non-votes count for quorum but generally are not counted as affirmative votes.

Filing Exhibits & Attachments

3 documents