TheCorporateCounsel.net

January 29, 2010

Survey Results: Impact of Loss of Broker Nonvotes for ’10 Proxy Season

Ahead of next Thursday’s webcast on e-proxy developments and other voting issues, below are the results from a recent survey we conducted on the topic of the impact of loss of broker nonvotes for ’10 proxy season:

1. Our company:
– Has used e-proxy in a past proxy season and definitely intends to do so in 2010 – 33.3%
– Has used e-proxy in a past proxy season and may decide to not do so in 2010 – 6.1%
– Has used e-proxy in a past proxy season and doesn’t intend to do so in 2010 – 0.0%
– Has not used e-proxy yet but definitely plans to do so in 2010 – 1.5%
– Has not used e-proxy yet but might decide to do so in 2010 – 13.6%
– Has not used e-proxy yet and will not use it in 2010 – 45.5%

2. When it comes to the impact of elimination of broker nonvotes, our company:
– Isn’t worried about its impact at all – 16.7%
– Is a little worried, but not much, about its impact – 50.0%
– Is somewhat worried about its impact – 27.3%
– Is very worried about its impact – 6.1%

3. Our company:
– Is not concerned about obtaining a quorum with the loss of discretionary votes – 13.6%
– Already seeks the ratification of auditors – 83.3%
– Already has another routine proposal planned the would address quorum concerns – 1.5%
– Will add the ratification of auditors this year out of quorum concerns – 1.5%
– Will add a different routine proposal this year out of quorum concerns – 0.0%

4. Our company:
– Has not used a proxy solicitor in the past for regular annual meetings but definitely intends to use one for the upcoming proxy season – 3.0%
– Has not used a proxy solicitor in the past for regular annual meetings but is considering it for the upcoming proxy season – 9.1%
– Has not used a proxy solicitor in the past for regular annual meetings and will not use one for the upcoming proxy season – 18.2%
– Has used a proxy solicitor in the past for regular annual meetings and definitely intends to use one for the upcoming proxy season – 59.1%
– Has used a proxy solicitor in the past for regular annual meetings and may use one for the upcoming proxy season – 9.1%
– Has used a proxy solicitor in the past for regular annual meetings but doesn’t intend to use one for the upcoming proxy season – 1.5%

5. Our company:
– Has a majority vote standard and intends to keep it – 54.6%
– Has a majority vote standard but may change it to a plurality standard – 1.5%
– Has a plurality vote standard and intends to keep it – 36.4%
– Has a plurality vote standard but may change it to a majority standard – 7.6%

Please take a moment to respond anonymously to our “Quick Survey on ‘More on Blackout Periods’.

Learning about a New Voting Service: Moxy Vote

In this podcast, Mark Schlegel, Co-Founder and VP-Business Developments of Moxy Vote, discusses the latest developments in proxy voting capabilities, including:

– What is Moxy Vote?
– What has happened since your launch?
– What can in-house counsel/corporate secretaries do to start participating?
– What types of advocates are on the site and what are the issues they cover?
– What do we want to accomplish?
– Are there any upcoming votes of interest?

Pat McGurn’s Forecast for 2010 Proxy Season: Wild and Woolly

We have posted the transcript for our webcast: “”Pat McGurn’s Forecast for 2010 Proxy Season: Wild and Woolly.”

– Broc Romanek