So far this proxy season, the SOP vote has occurred at 99 companies through February 18, 2011, of which 76 have reported the voting results in their filings. Of these 76 companies, using a simplified vote methodology where I simply count votes FOR, AGAINST and ABSTAIN and ignore any broker non-votes, two companies had SOP votes that received less than 50% votes “FOR:”

  • Jacobs Engineering (44.8% FOR, 53.7% AGAINST and 1.7% ABSTAIN – using methodology laid out above)
  • Beazer Homes (45.9% FOR, 53.8% AGAINST and 0.3% ABSTAIN)

Of the 109 companies that reported SOP vote results through February 25, 2011 the average votes were as follows (using the methodology where only votes FOR, AGAINST and ABSTAIN are counted):

  • FOR: 90.7%
  • AGAINST: 7.0%
  • ABSTAIN: 2.3%
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