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Dex Media down 8.3%; keeping two directors who lost election

Jun. 03, 2015 5:59 PM ETThryv Holdings, Inc. (THRY) StockTHRYBy: Jason Aycock, SA News Editor3 Comments
  • Dex Media (DXM) slipped 8.3% today, and a newly filed 8-K details that two board members tendered resignations after shareholders voted against their election -- but that the board refused to accept the resignations.
  • Thomas Gardner and Thomas Rogers received more votes against than for their election to Dex's board, and offered their resignations in accordance with bylaws.
  • The company's Corporate Governance Committee recommended to the full board not to accept the resignations, and the independent members of the board unanimously agreed -- which means despite losing the election, Gardner and Rogers will have terms extended until the 2016 annual meeting.
  • Shareholders also voted down the executive compensation proposal, 5.08M votes to 3.15M votes.
  • Aside from Gardner and Rogers, six other board members were elected.

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