IBM 2009 Annual meeting of stockholders
"You need to know that IBM is well positioned to continue delivering strong results, as we have been doing... as we did again in 2008... and as we continued to do in the first quarter of 2009. Last year we achieved record revenue, record pretax earnings, record EPS and record free cash flow."
With these words, IBM's Chairman and CEO Sam Palmisano began his report on our strategy and results to our shareholders at IBM's annual meeting of stockholders.
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International Business Machines Corporation held its Annual Meeting of Stockholders on April 28, 2009. For more information on the following proposals, see the Company's proxy statement dated March 9, 2009.
(1) IBM stockholders elected each of the twelve nominees to the Board of Directors for a one-year term by a majority of the votes cast.
(2) IBM stockholders, representing 97.55% of the votes cast, ratified the appointment of PricewaterhouseCoopers LLP as the Independent Registered Public Accounting firm for the Company:
| For | 1,041,459,496 |
| Against | 26,126,195 |
| Abstain | 4,844,723 |
| Total | 1,072,430,414 |
(3) IBM stockholders, representing 92.73% of the votes cast, approved the Long-Term Incentive Performance Terms for certain executives pursuant to Section 162(m) of the Internal Revenue Code:
| For | 981,533,958 |
| Against | 76,938,428 |
| Abstain | 13,958,028 |
| Total | 1,072,430,414 |
(4) IBM stockholders defeated a stockholder proposal on Cumulative Voting (34.47% of the votes cast were “For” the proposal):
| For | 298,540,401 |
| Against | 567,579,121 |
| Abstain | 11,915,391 |
| Broker Non-Votes | 194,395,501 |
| Total | 1,072,430,414 |
(5) IBM stockholders defeated a stockholder proposal on Executive Compensation and Pension Income (43.14% of the votes cast were “For” the proposal):
| For | 372,875,883 |
| Against | 491,544,882 |
| Abstain | 13,614,148 |
| Broker Non-Votes | 194,395,501 |
| Total | 1,072,430,414 |
(6) IBM stockholders defeated a stockholder proposal on Advisory Vote on Executive Compensation (44.22% of the votes cast were “For” the proposal):
| For | 376,276,455 |
| Against | 474,603,817 |
| Abstain | 27,154,641 |
| Broker Non-Votes | 194,395,501 |
| Total | 1,072,430,414 |