Chairman of the Board John Pepper, Jr. begins the business portion of the meeting with the shareholder proposals on the ballot.
Board of Directors recommends FOR:
Proposal #1: Board of Directors nomation
Proposal #2 – Ratify appointment of PricewaterhouseCoopers LLP
Proposal #3: Amended and Restarted 2005 Incentive Plan
Proposal #4: Restated Certificate of Incorporation related to interested Person transactions
Proposal #5: Restarted Certificate of Incoporation related to Bylaw amendments
Proposal #6: Restarted Certificate of Incoporation related to tracking stock provisions
Proposal #7: Restarted Certificate of Incoporation related to classified board tracking provisions
Board of Directors recommends AGAINST:
Proposal #8: Shareholder proposal relating to shareholder advisory role on executive compensation. A presentation is given by a shareholder making the case. Chairman Pepper explains why he does not believe it would be in the best interest of shareholders at this time.
Proposal #9: Shareholder proposal relating to ex-gay non-discrimination policy. A presentation is given by a shareholder making the case. Chairman Pepper explains why he does not believe it would be in the best interest of shareholders at this time.
That concludes the consideration of all the items and the polls are closed. Results based on proxys already received indicate:
Proposals #1-7, All voted FOR
Proposal #8: Majority AGAINST, but 47.5% voted FOR
Proposal #9: Majority AGAINST, but 1.7% voted FOR