This excerpt taken from the STLY DEF 14A filed Mar 4, 2008.
Approval of the Stanley Furniture Company, Inc. 2008 Incentive Compensation Plan requires the affirmative vote of the holders of a majority of the shares of our outstanding common stock represented at the 2008 Annual Meeting.
Our board of directors believes that approval of the 2008 Plan is in the best interest of all stockholders and, accordingly, unanimously recommends a vote FOR approval of the proposed 2008 Plan.
This excerpt taken from the STLY DEF 14A filed Mar 24, 2005.
The affirmative vote of a majority of the outstanding shares of Common Stock is required to adopt the proposed amendment to the Companys restated certificate of incorporation.