AT&T stockholders vote down net neutrality proposal

AT&T stockholders vote down net neutrality proposal

AT&T stockholders took to the ballot box today at their annual meeting and voted not only to reelect the entire board of directors, but also on a number of measures concerning how the company should conduct business. Chief amongst them was a provision that would have required the carrier to operate its network according to the tenets of net neutrality. Unfortunately for you (unless you're an AT&T exec), the proposal was voted down by a pretty stunning margin. 94.1 percent of shareholders opposed, with only 5.9 casting their voice in favor of true network neutrality. For more info check out the PR after the break.

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AT&T Announces Preliminary Results of 2012 Annual Meeting

SALT LAKE CITY, April 27, 2012 /PRNewswire/ -- At its annual meeting of stockholders today, AT&T Inc.* (NYSE: T) announced that each of the 11 nominees were reelected to the company's board of directors for one-year terms, with each member receiving at least 96.3 percent of the shares voted.

Additionally, AT&T stockholders voted to approve the following items proposed by the board of directors:

The appointment of Ernst & Young LLP as the company's independent auditor, with 98.4 percent of shares cast in favor and 1.6 percent cast against.
The compensation of AT&T's executive officers as described in the 2012 proxy statement, with 93.2 percent of shares cast in favor and 6.8 percent cast against.

The board of directors proposed a fourth item - an amendment to the company's certificate of incorporation to eliminate the article requiring the approval of two- thirds of the outstanding shares for action by written consent. Under Delaware law, the amendment to the certificate of incorporation requires the approval of at least two-thirds of the outstanding shares. This proposal received the approval of 50.9 percent of shares outstanding and did not pass.

The following proposals from stockholders were also voted on:

A proposal asking AT&T to issue a semi-annual report on political contributions and the policies and procedures for making such contributions was defeated by a vote of 61.4 percent against to 38.6 percent in favor.
A proposal asking that AT&T commit to operating its wireless network without the ability to privilege, degrade or prioritize any traffic was defeated by a vote of 94.1 percent against to 5.9 percent in favor.
A proposal asking that AT&T adopt a policy that the chairman of the board be an independent director was defeated by a vote of 56.2 percent against to 43.8 percent in favor.

When final voting results are available, they will be posted on the AT&T Investor Relations website.

*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

About AT&T

AT&T Inc. (NYSE: T) is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation's largest 4G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile Internet, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It a lso offers advanced TV services under the AT&T U-verse® and AT&T |DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T Advertising Solutions and AT&T Interactive are known for their leadership in local search and advertising.

Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com. This AT&T news release and other announcements are available at http://www.att.com/newsroom and as part of an RSS feed at www.att.com/rss. Or follow our news on Twitter at @ATT.

© 2012 AT&T Intellectual Property. All rights reserved. 4G not available everywhere. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.

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