I always vote on these but it seems it's pretty much pointless when the results come out. Always a ton of broker non-votes. Either way it doesn't matter because everything will be approved. An extra 50 mil authorized shares is not that big of a deal with all things considered. This will not cause immediate dilution as it is only an increase to the authorized shares. If you trust management to use the extra shares tho the company's benefit then you have nothing to worry about. They do have convertible notes outstanding that can be converted to common stock as well. This isn't saying they will be but if they were it would leave $PLX pretty close to having most of their authorized shares outstanding which isn't a good situation to be in. They also have the option to pay 1.25% of the interest on these notes (paid semi annually) in common stock at a 3% discount to the greater of VWAP on 10 days prior to issuance or $.5595. My opinion is they are just being proactive here with the authorization of the extra shares.
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