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PBI » Topics » W hat is the effect of broker non-votes and abstentions?

This excerpt taken from the PBI DEF 14A filed Mar 26, 2009.

What is the effect of broker non-votes and abstentions?

Under New York Stock Exchange rules, if your broker holds your shares in its “street” name, the broker may vote your shares in its discretion on both proposals 1 and 2 if it does not receive instructions from you.

If your broker does not have discretionary voting authority or if you abstain on one or more agenda items, the effect would be as follows:

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