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HBI » Topics » What are broker non-votes?

This excerpt taken from the HBI DEF 14A filed Mar 12, 2009.
What are broker non-votes?
 
If you have Shares that are held by a broker, you may give the broker voting instructions and the broker must vote as you directed. If you do not give the broker any instructions, the broker may vote at its discretion on all routine matters (such as the election of directors and the ratification of an independent registered public accounting firm). For non-routine matters, however, the broker may NOT vote using its discretion. A broker’s failure to vote on a matter under these circumstances is referred to as a broker non-vote.
 
This excerpt taken from the HBI DEF 14A filed Mar 10, 2008.
What are broker non-votes?
 
If you have Shares that are held by a broker, you may give the broker voting instructions and the broker must vote as you directed. If you do not give the broker any instructions, the broker may vote at its discretion on all routine matters (such as the election of directors and the ratification of an independent registered public accounting firm). For non-routine matters, however, the broker may NOT vote using its discretion. A broker’s failure to vote on a matter under these circumstances is referred to as a broker non-vote. The approval of the AIP and approval of the Omnibus Incentive Plan are non-routine matters.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 12, 2009
DEF 14A
Mar 10, 2008

RELATED TOPICS for HBI:

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