A company guy gets less than 50% of non management/bod/insider votes. i see approximately 840k votes for EJ out of 2mm non management shares.
breaking down the numbers shows that outside of management/bod votes that 45% of independent shareholders went thru the effort to withheld the vote for the management nominee. and that ignores the 400k or so of non votes which in my mind are no votes.
hopefully this is a nice small way of shareholders asking the BOD/Management to do something about unlocking some value here. a tender offer, share buyback announcement or increased dividend would be very helpful to the shareholders who have seen their shares become worth much less over the past few years.
but i believe shareholders are willing to give mr. moody a year to do something. i believe he's earned that right given the way they have managed the business over the past 20 years.