29.04.2005 19:45:00
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SBC Communications Announces Preliminary Results of 2005 Annual Meetin
Business Editors/High-Tech Writers
SAN ANTONIO--(BUSINESS WIRE)--April 29, 2005--SBC Communications Inc. (NYSE:SBC) held its annual meeting today, where stockholders re-elected 14 current board members to the board of directors for one-year terms. They were: Gilbert F. Amelio, August A. Busch III, Martin K. Eby, Jr., James A. Henderson, Charles F. Knight, Lynn M. Martin, John B. McCoy, Mary S. Metz, Toni Rembe, S. Donley Ritchey, Joyce M. Roche, Laura D'Andrea Tyson, Patricia P. Upton and Edward E. Whitacre Jr. Each nominee won at least 93.7 percent of the shares voted.
Two directors retired from the board of directors at the 2005 annual meeting - Clarence C. Barksdale and William P. Clark.
In addition, SBC stockholders approved the re-appointment of Ernst & Young LLP as SBC's independent auditor by a vote of 97.9 percent cast in favor to 2.1 percent cast against.
Three stockholder proposals presented at the meeting failed to receive a majority of the votes cast and were defeated. They included:
-- | A proposal seeking additional disclosure by the company of its corporate political contributions by a vote of 87.6 percent against to 12.4 percent in favor. |
-- | A proposal requesting a review of executive compensation by a vote of 87.3 percent against to 12.7 percent in favor. |
-- | A proposal calling for adoption of a performance and time-based restricted share grant program for senior executives by a vote of 82.6 percent against to 17.4 percent in favor. |
Stockholders approved a proposal that would require a majority vote for matters put to a vote of SBC stockholders by a vote of 62.2 percent cast in favor to 37.8 percent cast against.
Stockholders also approved the creation of a new stock purchase and deferral plan for managers that replaces a similar plan created in 1991. Stockholders approved this proposal by a vote of 94.3 percent cast in favor to 5.7 percent cast against.
When they are available, final results of the 2005 annual meeting will be published on SBC's website at www.sbc.com/investor_relations.com.
SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves 50.4 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com.
--30--SH/na*
CONTACT: SBC, San Antonio Anne Vincent, 210-351-3778 anne.vincent@sbc.com
KEYWORD: TEXAS INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS TELECOMMUNICATIONS SOURCE: SBC Communications Inc.
Copyright Business Wire 2005
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