US Vote Trends for the 2010 Season

Changes to SEC disclosure rules effective Feb. 28, 2010 require US listed companies to disclose the results of their meetings within four business days. This means that we are able to provide an overview of the season in a more-timely manner. PGI has put together a summary of the results for some of the more common shareholder proposals below.  But keep in mind that the week of May 24 is the busiest of the year for US meetings; the results for meetings held in this week may affect some of the outcomes provided below. A full proxy season review will be available to PGI and Manifest customers after the end of the season.

Votes provided for the shareholder proposals are based on a majority of the votes cast for and against. For 2010, we have included meetings from Jan. 1, 2010 through June 30, 2010; 2009, however, represents full year data. Numbers in parenthesis represent those for which votes results are available.

Issue

Proposals
#

Average
Support

Majority
Support

Adopt Say on Pay

2010

55 (41)

45%

9

2009

80

45%

23

Eliminate Classified Boards 

2010

44 (36)

59%

21

2009

74

65%

50

Allow Shareholders to Call Special Meetings 

2010

43 (35)

45%

11

2009

60

51%

33

Appoint Independent Board Chair 

2010

38 (28)

30%

1

2009

39

34%

5

For more information contact Allie Monaco at ProxyGovernance Inc on +1 (703) 245 5755

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