This excerpt taken from the DIS DEF 14A filed Jan 6, 2005.
The Company has been notified that Mrs. Evelyn Y. Davis, The Watergate Office Building, Suite 215, 2600 Virginia Ave., N.W., Washington D.C. 20037, intends to present the following proposal for consideration at the annual meeting:
RESOLVED: That the stockholders of Disney recommend that the Board of Directors take the necessary steps THAT NO GREENMAIL shall be paid.
This Corporation shall not buy or otherwise acquire stock of any class of this corporation at a price more than 5 percent above the current fair market price unless an offer is made to ALL stockholders of that class of stock on a proportionate or randomly-selected basis; such offer to be open for a minimum of 45 days.
This policy need not apply to purchases or acquisitions of less than 100 shares.
REASONS: Recent events at Disney could make the adoption of this resolution a sound precaution.
If you AGREE, please mark your proxy FOR this proposal.