15 Current Board Members Re-Elected for One-Year Terms
AT&T Inc. (NYSE:T) announced today that, at the 25th annual meeting of stockholders, 15 current board members were re-elected to the company’s board of directors for one-year terms. The board members are:
Randall L. Stephenson August A. Busch III John B. McCoy
William F. Aldinger III Jaime Chico Pardo Mary S. Metz
Gilbert F. Amelio James P. Kelly Joyce M. Roché
Reuben V. Anderson Jon C. Madonna Laura D'Andrea Tyson
James H. Blanchard Lynn M. Martin Patricia P. Upton
Each board member won at least 79.5 percent of the shares voted.
Based on preliminary results, AT&T stockholders voted to approve the following items proposed by the board of directors:
The ratification of the appointment of Ernst & Young LLP as the company’s independent auditor, with 98.3 percent of shares cast in favor and 1.7 percent cast against.
An amendment to the company’s certificate of incorporation to increase the number of authorized shares of common stock from 7 billion to 14 billion, with 82.3 percent of shares cast in favor and 17.7 percent against. The vote in favor of this proposal represents 63.7 percent of outstanding shares. A majority of the outstanding shares was required to pass this proposal.
The following proposals from stockholders were also put to a vote at the meeting:
A proposal recommending additional reporting of political contributions made by AT&T, which was defeated by a vote of 68.2 percent of shares cast against to 31.8 percent in favor.
A proposal calling for an amendment to the AT&T bylaws to allow holders of 10 percent of outstanding common shares to call a special stockholder meeting, which was defeated by a vote of 50.1 percent against to 49.9 percent in favor.
A proposal asking AT&T to adopt cumulative voting for directors, which was defeated by a vote of 61.9 percent against to 38.1 percent in favor.
A proposal recommending an amendment to the AT&T bylaws to require an independent lead director, which was defeated by a vote of 65.0 percent against to 35.0 percent in favor.
A proposal calling for an advisory vote by stockholders to approve compensation for named executive officers, which was defeated by a vote of 53.0 percent against to 47.0 percent in favor.
A proposal asking AT&T to exclude return on pension plan assets in determining performance-based compensation, which was defeated by a vote of 54.5 percent against to 45.5 percent in favor.
When they are available, final results of voting will be posted on AT&T’s Web site at www.att.com/investor.relations.
About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation’s fastest 3G network and the best wireless coverage worldwide, and the nation's leading high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of their three-screen integration strategy, AT&T operating companies are expanding their TV entertainment offerings. In 2009, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE® magazine’s list of the World’s Most Admired Companies. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com.
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