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Knight Ridder shareholders last week narrowly defeated a shareholder proposal to treat stock options as an expense, the company said.

The measure got an unusually strong level of support for a shareholder proposal. A spokeswoman said 34.1 million shares were voted against the measure at the company's annual meeting Tuesday and 33.4 million were voted in favor, with 90.5% of the total shares outstanding voted.

Lynne Dennis, chairwoman of the San Jose Newspaper Guild's unit at the Knight Ridder flagship San Jose (Calif.) Mercury News and sponsor of the proposal, said she's glad the measure got as much support as it did, considering the board recommended voting against it. Said Dennis, "When something is this close, I think the board of directors should consider it very carefully."

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Title Annotation:Knight Ridder, shareholder proposal, stock options as expense
Comment:A CLOSE CALL ON OPTIONS.(Knight Ridder, shareholder proposal, stock options as expense)
Author:Moses, Lucia
Publication:Editor & Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 28, 2003
Next Article:Shoptalk.

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