InterDigital Inc (IDCC)

[loophole73]

DannyD

What matters do you think are appropriate for a shareholder to discuss with an institution? These #2 proxy contests are going on in the USA and the EU. I would imagine that the institutions are getting fairly accustomed to these issues. Do you think that management is lobbying the institutions? Is it unusual for a broker to lobby institutions on behalf of his shareholder clients? This is the first time that I have been against a proposal of management in 18 years. I am not familiar with the protocol within the industry as to contacting other shareholders including institutions in an effort to present a reasonable case for voting against #2. My broker says that since institutions are now going to be required to publish their voting records, he believes that they will be hard pressed to vote for any measure that could involve dilution. I asked him whether it would make a difference because of the habit and custom in the sector. His reply was that the 1990's customs should not be relied upon because reform and change are on the front burner and nothing formerly customary is safe from being deleted, altered or modified. I know that you have been retired for several years, but if you have discussed the new front with your money managers or remaining industry contacts, it would be interesting to know generally how they are approaching voting in light of the new regs.

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