HOT » Topics » What happens if a Director nominee does not receive a majority of the votes cast?

These excerpts taken from the HOT DEF 14A filed Mar 26, 2009.
What happens if a Director nominee does not receive a majority of the votes cast?
 
Under our Bylaws, a Director nominee, running uncontested, who receives more “Withheld” than “For” votes is required to tender his or her resignation for consideration by the Board. The Corporate Governance and Nominating Committee will recommend to the Board whether to accept or reject the resignation. The Board will act on the tendered resignation and publicly disclose its decision within 90 days following certification of the election results. The Director who tenders his or her resignation will not participate in the Board’s decision with respect to that resignation.
 
What
happens if a Director nominee does not receive a majority of the
votes cast?



 



Under our Bylaws, a Director nominee, running uncontested, who
receives more “Withheld” than “For” votes is
required to tender his or her resignation for consideration by
the Board. The Corporate Governance and Nominating Committee
will recommend to the Board whether to accept or reject the
resignation. The Board will act on the tendered resignation and
publicly disclose its decision within 90 days following
certification of the election results. The Director who tenders
his or her resignation will not participate in the Board’s
decision with respect to that resignation.


 




These excerpts taken from the HOT DEF 14A filed Mar 19, 2008.
What happens if a director nominee does not receive a majority of the votes cast?
 
Under our Bylaws, a director nominee, running uncontested, who receives more “Withheld” than “For” votes is required to tender his or her irrevocable resignation for consideration by the Board. The Governance and Nominating Committee will recommend to the Board whether to accept or reject the resignation. The Board will act on the tendered resignation and publicly disclose its decision within 90 days following certification of the election results. The Director who tenders his or her resignation will not participate in the Board’s decision with respect to that resignation.
 
What
happens if a director nominee does not receive a majority of the
votes cast?



 



Under our Bylaws, a director nominee, running uncontested, who
receives more “Withheld” than “For” votes is
required to tender his or her irrevocable resignation for
consideration by the Board. The Governance and Nominating
Committee will recommend to the Board whether to accept or
reject the resignation. The Board will act on the tendered
resignation and publicly disclose its decision within
90 days following certification of the election results.
The Director who tenders his or her resignation will not
participate in the Board’s decision with respect to that
resignation.


 




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