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Tuesday, May 17, 2011

Fisher says neither it nor dissident FrontFour elected a full slate

fisher communications Hedge fund FrontFour Capital led an effort to seat four members on what will be a nine-person board at Fisher Communications. Fisher says the count from last week's vote is continuing, but "it appears that neither party will have elected a full slate of nominees." The slow tally is "due to the application of cumulative voting." The open seats were for three Class 3 directors to hold office until the 2014 annual meeting, and one Class 1 director, through the 2012 meeting. Fisher's SEC filing reveals that "at least 4,381,513 votes were cast for at least one of the company's director candidates, and at least 3,429,717 votes were cast for at least one of the FrontFour candidates." We do know the outcome of some other matters before the shareholders meetings: "a plurality of shareholders favored annual shareholder advisory votes on the compensation of the company's named executive officers." See the Fisher SEC filing here.

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