OGE Energy elects board of directors at annual meeting

OKLAHOMA CITY, May 16, 2024 /PRNewswire/ — OGE Energy Corp. (NYSE: OGE) virtually held its 2024 Annual Meeting of Shareholders today, electing its board of directors and acting on a number of items.

Chairman, President and CEO Sean Trauschke began the meeting by thanking the company’s employees for their relentless pursuit to deliver safe, reliable and resilient electricity to nearly 900,000 customers every day.

“Our dedicated team’s operational execution and commitment to our customers delivered solid results in 2023,” Trauschke said. “Thanks to our continued customer focus and strong operations as we leverage our low rates and drive healthy community growth, we believe the future for OGE Energy is bright. I look forward to what the rest of 2024 brings.”

Trauschke discussed the company’s continued grid hardening efforts delivering improved reliability for customers at the lowest overall rates in Oklahoma and Arkansas for the year. He reflected on the company’s sustainable business model, grounded in low rates that drive economic growth across its service area.

In voting announced at the meeting, OGE Energy shareholders:

Elected 10 members of the company’s board of directors to one-year terms. They are:
Judy R. McReynolds, lead director, chairman, president and chief executive officer of ArcBest Corporation.
Frank A. Bozich, president and chief executive officer at Trinseo PLC
Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm
Cathy R. Gates, former assurance partner of Ernst & Young LLP
David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc.
Luther C. Kissam, IV, senior advisor with Bernhard Capital Partners
David E. Rainbolt, executive chairman of BancFirst Corporation
J. Michael Sanner, former audit partner of Ernst & Young LLP
Sheila G. Talton, president and chief executive officer of Gray Matter Analytics
Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E
Ratified the appointment of Ernst & Young LLP as the company’s principal independent accountants for 2024;
Approved, on an advisory basis, the compensation paid to named executive officers;
The shareholder proposal regarding simple majority vote received 69% of the votes cast, but only 49% of the outstanding votes, which is well below 80% of the outstanding votes required to implement the changes.

Quarterly Dividend Declared

The OGE Energy board of directors also declared a third quarter dividend of $0.4182 per common share of stock, to be paid July 26, 2024, to shareholders of record July 8, 2024. The dividend was unchanged from the previous quarter.

OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 900,000 customers in Oklahoma and western Arkansas.

This news release may contain “forward-looking” statements. Forward-looking statements are intended to be identified by words such as “anticipate,” “believe,” “intend,” “plan,” “expect,” “continued,” “goal,” “may” or similar expressions. Factors that could affect actual results are listed in the reports filed by the Company with the Securities and Exchange Commission including those listed in Risk Factors in the Company’s Form 10-K for the year ended December 31, 2023.

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