Ciena Announces Voting Results of Annual Meeting of Shareholders.LINTHICUM, Md. -- Ciena(R) Corporation (Nasdaq:CIEN CIEN Ciena Corporation (stock symbol) ), the network specialist, today announced voting results of its Annual Meeting held March 15, 2006 in Baltimore, Maryland "Baltimore" redirects here. For the surrounding county, see Baltimore County, Maryland. For other uses, see Baltimore (disambiguation). Baltimore is an independent city located in the state of Maryland in the United States. . Shareholders approved the following proposals in the proxy See proxy server. (networking) proxy - A process that accepts requests for some service and passes them on to the real server. A proxy may run on dedicated hardware or may be purely software. :
1. Proposal to elect as Class III Directors Stephen P. Bradley,
Ph.D and Gerald H. Taylor;
2. Proposal to authorize the Board of Directors, in its discretion,
to amend Ciena's Third Restated Certificate of Incorporation to
effect a reverse split of its outstanding common stock at a ratio
of (i) one-for-five, (ii) one-for-seven, or (iii) one-for ten,
together with a corresponding reduction in the number of
authorized shares of Ciena common stock and capital stock, at any
time prior to the date of Ciena's 2007 Annual Meeting of
Shareholders, without further approval or authorization of Ciena's
shareholders; and,
3. The ratification of the appointment of PricewaterhouseCoopers LLP
as Ciena's independent registered public accounting firm for the
2006 fiscal year.
A shareholder proposal requesting that the Board of Directors adopt a majority vote standard for the election of directors was not approved by shareholders. As of the record date of January January: see month. 20, 2006, there were 581,261,502 shares eligible to vote. Proxies representing 495,950,700 shares, or 85.3 percent of the eligible voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. were represented at the meeting. The results for each proposal were as follows:
1. Proposal to elect Stephen P. Bradley, Ph.D. and Gerald H. Taylor:
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Percent of Total
Votes Cast
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Stephen P. Bradley, Ph.D. Votes For 471,012,287 95.0%
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Votes Withheld 24,938,413 5.0%
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Gerald H. Taylor Votes For 470,866,586 94.9%
----------------------------------------------------------------------
Votes Withheld 25,084,114 5.1%
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2. Proposal to authorize the Board of Directors to effect a reverse
stock split as described above (approval required majority of
total shares outstanding):
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Percent of Total
Shares
Outstanding
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Votes For 465,785,019 80.1%
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Votes Against 26,608,196 4.6%
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Votes Abstained 3,557,485 0.6%
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3. The ratification of the appointment of PricewaterhouseCoopers LLP
as Ciena's independent registered public accounting firm for the
2006 fiscal year:
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Percent of Total
Votes Cast
-----------------------------------------------
Votes For 482,113,078 98.2%
-----------------------------------------------
Votes Against 8,934,503 1.8%
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Votes Abstained 4,903,119 N/A
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4. Shareholder proposal requesting that the Board of Directors adopt
a majority vote standard for the election of directors:
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Percent of Total
Votes Cast
-----------------------------------------------
Votes For 90,332,092 31.0%
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Votes Against 200,700,973 69.0%
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Votes Abstained 15,130,658 N/A
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Shares Not Voted 189,786,977 N/A
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About Ciena Ciena Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom is the network specialist, focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The company's systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward. For more information, visit www.ciena.com. |
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