May 15, 2012
Sprint Shareholders Elect Directors; Vote on Proposals at Annual Meeting
OVERLAND PARK, Kan. (BUSINESS WIRE), May 15, 2012 - Sprint (NYSE:S) shareholders elected 10 directors at the company's 2012 annual shareholders’ meeting today, which was held in Overland Park, Kan. Shareholders voted to elect each of the following nominees for a one-year term: Robert R. Bennett, Gordon M. Bethune, Larry C. Glasscock, James H. Hance, Jr., Daniel R. Hesse, V. Janet Hill, Frank Ianna, Sven-Christer Nilsson, William R. Nuti and Rodney O'Neal. All directors received at least 88 percent of the votes cast with Chairman Hance receiving 92 percent and Chief Executive Officer Hesse receiving more than 90 percent. Shareholders also ratified the selection of KPMG LLP as Sprint's independent auditor for 2012 with 99 percent of the votes cast supporting the measure.
In other matters, shareholders approved (by non-binding vote) the compensation of the company's named executive officers, as described in the company's proxy statement with 80 percent of the votes cast supporting the measure. Two amendments to the company’s Articles of Incorporation to eliminate supermajority voting provisions also passed, each with 74 percent of outstanding shares voting in favor. Additionally, changes to the material terms of the performance objectives under the 2007 omnibus incentive plan were approved with 94 percent of the votes cast supporting the measure.
None of the shareholder proposals passed.
All vote tallies are preliminary until certified by an independent inspector of elections.
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 served more than 56 million customers at the end of the first quarter of 2012 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Newsweek ranked Sprint No. 3 in its 2011 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.