&

About

PREVIEW SHAREHOLDER VOTING TRENDS AS THEY TAKE SHAPE

Welcome to ProxyPulse, the barometer of shareholder trends based on proxy voting as it takes place.

ProxyPulse is a collaboration between Broadridge and PwC’s Center for Board Governance. Our data and analysis are independent and objective, designed to offer a unique preview of shareholder trends as they are taking shape.

The analysis is based upon Broadridge’s processing of shares held in street name, which accounts for over 80% of all shares outstanding of U.S. publicly-listed companies. Shareholder voting trends during the proxy season represent a snapshot in time and may not be predictive of full year results. For the purposes of the ProxyPulse reports, “institutional shareholders” refers to shares voted through a vote agent or shares processed via our ProxyEdge platform. This typically includes mutual funds, pension funds, hedge funds, discretionary asset managers, and/or university endowments funds. All other shares are considered retail.

HOW WE DO IT

Broadridge Financial Solutions is the leading third party processor of shareholder communications and proxy voting. Each year it processes over 600 billion shares at over 12,000 meetings.

PwC's Governance Insights Center supports you with the governance knowledge to answer tough questions and tackle complex challenges. You can count on us to help you connect all the dots for a more complete perspective—and step ahead with confidence.

PwC Survey Information - In the summer of 2015, 783 public company directors responded to PwC’s 2015 Annual Corporate Directors Survey. Of those directors, 74% serve on the boards of companies with more than $1 billion in annual revenue. Participants were 86% male and 14% female – closely aligning with gender distribution averages of public company directors. The board tenure of participants was dispersed relatively evenly.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

PricewaterhouseCoopers LLP has neither examined, compiled nor performed any procedures with respect to the ProxyPulse report and, accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto.

Experts

To have a deeper conversation about how this subject may affect your business, please contact:

Broadridge Financial Solutions

Chuck Callan
Senior Vice President
Regulatory Affairs
845.398.0550
chuck.callan@broadridge.com

Sharyn Bilenker
Vice President
Corporate Affairs & Strategic Development
201.714.8778
sharyn.bilenker@broadridge.com

PwC’s Center for Board Governance

Mary Ann Cloyd
Leader, Center for Board Governance
973.236.5332
mary.ann.cloyd@us.pwc.com

Paul DeNicola
Director, Center for Board Governance
973.236.4835
paul.denicola@us.pwc.com

Privacy

The data provided in these reports is anonymous, aggregated data which is a result of the data processing involved in the voting process. As a result of the automated processing used to quantify and report on proxy voting, data is aggregated and disassociated from individual companies, financial intermediaries, and shareholders. In order to eliminate any association with a particular voting party, we do not report any data without sufficient voting volume.