Peabody Energy NYSE: BTU stockholders approved all four proposals presented at the company’s 2026 annual meeting, including the election of directors, an advisory vote on executive compensation, approval of the company’s 2026 incentive plan and ratification of Ernst & Young LLP as its independent registered public accounting firm for 2026.
The virtual meeting was chaired by Bob Malone, chairman of Peabody’s board of directors. Scott Jarboe, chief administrative officer and corporate secretary, said a quorum was present, with more than 50% of shares entitled to vote represented in person or by proxy.
Stockholders Approve Board Nominees and Compensation Items
Steve Gorman, an independent director and chair of the Nominating and Corporate Governance Committee, presented the slate of 10 director nominees. According to preliminary results announced during the meeting, each nominee received a majority of votes cast and was elected to serve until next year’s annual meeting or until a successor is duly elected and qualified.
The elected directors are M. Katherine Banks, Andrea E. Bertone, William H. Champion, Nicholas J. Chirekos, Steven E. Gorman, James C. Grech, Georganne M. Hodges, Joe W. Laymon, Clayton D. Walker and Bob Malone.
Stockholders also approved, on an advisory basis, the compensation of Peabody’s named executive officers as disclosed in the proxy statement. Gorman said the vote was nonbinding but that the board and Compensation Committee “value the opinions of our stockholders” and would consider any concerns.
In addition, stockholders approved the Peabody Energy Corporation 2026 incentive plan. Gorman said the Compensation Committee and board had reviewed the terms of the plan and the increase in shares reserved for issuance under it.
Nick Chirekos, chair of the Audit Committee, presented the final voting item: ratification of Ernst & Young LLP as Peabody’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026. Stockholders approved the proposal, according to preliminary results. Malone said final voting results would be filed with the meeting minutes and reported in a Form 8-K with the Securities and Exchange Commission.
CEO Highlights 2025 Performance
After the formal business meeting, Jim Grech, Peabody’s president and chief executive officer, provided an update on the company’s performance in 2025 and its priorities for 2026.
Grech described 2025 as “a year of execution, discipline, and progress,” particularly amid sharply lower seaborne coal pricing. He said Peabody generated approximately $3.9 billion in revenue and $455 million in adjusted EBITDA for the year, while maintaining balance sheet flexibility and cash flow to support reinvestment and shareholder returns.
Grech said the company met or exceeded full-year guidance across seven of eight key operating metrics.
Safety and Environmental Performance
Grech said safety remained Peabody’s “first value” and highlighted the company’s safety record in 2025. The company improved its safety performance by 12% and recorded its second consecutive record-low reportable injury rate, he said.
He noted that Gateway North had zero reportable injuries in 2025, while the CMJV mines in Queensland and the North Complex mines in Wyoming each reported one injury. Grech said Peabody’s reportable incident rate per 200,000 hours worked made it “safer to work in a Peabody mine than it is to work in a grocery store.”
On environmental performance, Grech said Peabody restored twice as many acres as it disturbed in 2025 and received one notice of violation, matching the company’s record low from the prior year. He also cited technology investments, emissions reduction projects and land stewardship as areas of focus.
Centurion Mine and Thermal Coal Portfolio
Grech called the start of longwall production at the Centurion Mine in February 2026 a “defining milestone” for Peabody. He said Centurion is the company’s flagship mine and is expected to deliver premium hard coking coal for more than 25 years, strengthening Peabody’s metallurgical coal platform.
In the United States, Grech said supportive policy and market conditions helped drive stronger performance in the company’s thermal coal portfolio. He pointed to higher natural gas prices and increased demand for dispatchable power, driven in part by artificial intelligence and data center expansion, as factors contributing to higher coal plant utilization and sales volumes.
Grech said the company’s Powder River Basin mines produced approximately 85 million tons, reinforcing the value of Peabody’s low-cost U.S. asset base.
2026 Priorities and Stockholder Question
Grech said Peabody’s priorities include operating safely and efficiently, achieving full operational performance at Centurion, sustaining strong margins from low-cost thermal coal assets, preserving balance sheet strength and growing free cash flow. He also said the company is pursuing commercial opportunities tied to its land and coal resources, including renewable energy development on reclaimed land and evaluation of rare earth elements and critical minerals opportunities.
During the question-and-answer session, a stockholder asked about the mine life and reserve outlook for the Francisco and Twentymile mines, including whether those assets were in a “terminal harvest phase.” Grech said Peabody continuously evaluates its mines based on shareholder interests, cash flows and markets ahead of them. He said any announcements about the future of Francisco or Twentymile would come when decisions are made.
Malone closed the meeting by thanking stockholders for their continued support of Peabody.
About Peabody Energy NYSE: BTU
Peabody Energy Corporation is one of the world's largest private-sector coal companies, engaged primarily in the production and sale of metallurgical and thermal coal. The company's operations span surface and underground mines, serving utilities, steel mills and other industrial customers that rely on coal as an essential component in power generation and steelmaking. Peabody's product portfolio includes high-energy thermal coal for electricity generation and low-volatile metallurgical coal used in steel production, reflecting its diverse end-market reach.
Founded in 1883, Peabody Energy has grown from a regional mining concern into a global energy supplier.
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