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Saturday, March 26, 2016 12:46:30 AM
According to the LMT bylaws, in a vote to approve an increase in the number of authorized shares, abstentions are counted with the No votes. (See citation below.) So if you are against the upcoming vote to increase the number of shares, vote no, or abstain. BUT IF YOU ARE IN FAVOR, (which will also result in LMT receiving the full $63 Million cash infusion plus the benefit of working with EONTEC) be sure to vote Yes. Otherwise, by default, you will be voting No.
https://materials.proxyvote.com/default.aspx?docHostID=151539
“Proposal 1 – Increase in Authorized Common Stock. Approval of the amendment to our Certificate of Incorporation in order to increase the number of shares of common stock that the Company is authorized to issue will require the affirmative vote of a majority of the outstanding shares of our common stock, Series A-1 Preferred Stock and Series A-2 Preferred Stock, voting together as a single class (with the shares of Series A-1 Preferred Stock and Series A-2 Preferred Stock voting on an as converted to common stock basis). As a result, abstentions and broker non-votes will have the same effect as votes against this proposal.
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