Proxy Vote Update: AT&T Inc.

Below are the resources for and the results of our recent Proxy Vote on behalf of our clients:

Proxy Materials:

rF Proxy Vote results:

Vote for the election of of the following nominees:
1. Randall L Stephenson – Against (Conflict of Interest).
2. Scott T Ford – Against (Lack of oversight on approving/proposing compensation package).
3. Glenn H Hutchins – For
4. William E Kennard – For
5. Jon C Madonna – For
6. Michael B MacCallister – For
7. John B McCoy – Against (Lack of oversight on approving/proposing compensation package).
8. Beth E Mooney – For
9. Joyce M Roch`e – Against (Lack of oversight on approving/proposing compensation package).
10. Matthew K Rose – Against (Lack of oversight on approving/proposing compensation package).
11. Cynthia B Taylor – For
12. Laura D’Andrea Tyson – For
Ratification of appointment of independent auditors: For
Advisory approval of executive compensation: Against (Awards are enormously excessive).
1. Compensation was ~$24,000,000-$6,000,000 for executive officers. There is almost no way to justify fleecing shareholders to this amount regardless of performance; not to mention that AT&T is at best a median performer the last 10-20yrs. This is why we voted against any board member that was on the compensation committee – inexcusable.
Political spending report – For
Lobbying report – For
Special meetings – For