Today Dell held its 2011 Annual Meeting of Stockholders in Round Rock, TX. This marked the second year Dell hosted a hybrid Stockholder Meeting, with the option for shareholders to attend in person or virtually. Virtual attendees were able to listen to a live Webcast of the event as well as vote and submit questions electronically. The meeting included presentations from CEO Michael Dell and CFO Brian Gladden, as well as company proposals, stockholder proposals and proxy voting results. The event concluded with a Q&A session with Michael Dell, Brian Gladden, Larry Tu (SVP & General Counsel), and Alex Mandl (Lead Director).
The company proposals included the Election of Directors, Ratification of Independent Auditor, Advisory Vote on Named Executive Officer Compensation, all of which the Board of Directors recommended that stockholders vote “FOR.” Also in the company proposal was the Advisory Vote on the Frequency of Holding Future Advisory Votes on Named Executive Officer Compensation which the board recommended stockholders vote “FOR every 1 year” as the frequency. The Stockholder proposals included Independent Chairman, Stockholder Action by Written Consent, and Declaration of Dividends which the board recommended stockholders vote “AGAINST.”
The preliminary proxy voting results were as follows:
1 – Election of Directors FOR
2 – Ratification of Independent Auditor FOR
3 – Advisory Vote on Named Executive Officer Compensation FOR
4 – Advisory Vote on Frequency of Holding Future Advisory
Votes on Named Executive Officer Compensation FOR 1 Year
Stockholder Proposal 1 – Independent Chairman AGAINST
Stockholder Proposal 2 – Stockholder Action By Written Consent AGAINST
Stockholder Proposal 3 – Declaration of Dividends AGAINST
Thank you to all the stockholders who attended the event. If you were unable to attend, you can listen to a replay of the webcast and view the presentation here. Here are the presentation slides from this morning's meeting. As always, we look forward to your comments.