OVERLAND PARK, Kan.--(BUSINESS WIRE)--Nov. 12, 2009--
Sprint Nextel Corp. (NYSE:S) today announced that its Board of Directors
has approved an amendment to the corporate bylaws allowing the record
holders of shares representing at least 10 percent of all issued and
outstanding common stock to call a special meeting of shareholders.
To call a special meeting, shareholders must submit a written request to
the Secretary of the Corporation that meets certain requirements stated
in the bylaws, including those related to the timing of similar items or
the timing of meetings already scheduled.
The action follows approval at Sprint’s May 2009 Annual Meeting of a
shareholder proposal requesting this action. Approximately 77 percent of
shares voted at the Annual Meeting were cast in favor of the proposal.
“The board’s action is another example of Sprint’s commitment to high
standards of corporate governance, and responsiveness to our
shareholders,” said Charles Wunsch, Sprint’s General Counsel. “Our
shareholders now have the ability, within appropriate guidelines, to
call a special shareholders meeting to consider matters they believe are
urgently important to Sprint.”
A copy of Sprint’s updated bylaws is available at www.sprint.com/governance.
ABOUT SPRINT NEXTEL
Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel is widely recognized for
developing, engineering and deploying innovative technologies, including
two wireless networks serving more than 48 million customers at the end
of the third quarter of 2009 and the first and only 4G service from a
national carrier in the United States; industry-leading mobile data
services; instant national and international push-to-talk capabilities;
and a global Tier 1 Internet backbone. The company’s customer-focused
strategy has led to improved first call resolution and customer care
satisfaction scores. For more information, visit www.sprint.com.
Source: Sprint Nextel
James Fisher, 703-433-8677
Yijing Brentano, 800-259-3755