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 – Election of the Board of Directors
Proposal #2: Accountant Appointment
Proposal #3: 2011 Stock Incentive Plan
Proposal #4: Advisory vote on executive compensation
Proposal #5: Advisory vote on frequency of votes on executive compensation
Shareholder Proposal: Unite HERE proposal to limit executive compensation
Proposal results:
#1: 85% FOR
#2: FOR (missed the percentage)
#3: 73% FOR
#4: 76% FOR
#5: 81% FOR Annual Vote
Sharehodler Proposal: Majority voted AGAINST. (29% did vote FOR)