MOT » Topics » Will My Shares be Voted if I Do Not Provide Instructions to My Broker?

This excerpt taken from the MOT DEF 14A filed Mar 13, 2009.
Will My Shares be Voted if I Do Not Provide Instructions to My Broker?
 
If you are the beneficial owner of shares held in “street name” by a broker, the broker, as the record holder of the shares, is required to vote those shares in accordance with your instructions. If you do not give instructions to the broker, the broker will be entitled to vote the shares with respect to “discretionary” items but will not be permitted to vote the shares with respect to “non-discretionary” items (those shares are treated as “broker non-votes”). The election of directors will be a “discretionary” item. The ratification of the appointment of KPMG LLP and stockholder advisory vote on compensation are also “discretionary” items. The proposals to amend the Restated Certificate of Incorporation to change the par value of our Common Stock to $0.01, to amend existing equity plans to permit the stock option exchange program and to amend the Motorola Employee Stock Purchase Plan of 1999 are “non-discretionary” items. The three shareholder proposals are also “non-discretionary” items.
 
This excerpt taken from the MOT DEF 14A filed Apr 9, 2008.
Will My Shares be Voted if I Do Not Provide Instructions to My Broker?
 
If you are the beneficial owner of shares held in “street name” by a broker, the broker, as the record holder of the shares, is required to vote those shares in accordance with your instructions. If you do not give instructions to the broker, the broker will be entitled to vote the shares with respect to “discretionary” items but will not be permitted to vote the shares with respect to “non-discretionary” items (those shares are treated as “broker non-votes”). As a result of the Agreement reached between the Company, Mr. Icahn and certain of his affiliates, the election of directors is no longer the subject of a counter-solicitation (i.e., a contested election). Accordingly, the election of directors will be a “discretionary” item. The ratification of the appointment of KPMG LLP is also a “discretionary” item. The three shareholder proposals are “non-discretionary” items.
 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki