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.
