Election News Roundup

Proxy Count.  As of August 1, the Inspector had received 162 white proxies and 6 green proxies, covering 23.4% of outstanding shares.  This is not even halfway to a quorum.  We do not know how many green proxies have been delivered to Dave Stephenson and Steven Muro or to Katie Teague or when they will be delivered to the Inspector.  Nor can we estimate how many proxies revoke and replace prior proxies without adding to the quorum count.  We do hope a way can be found to get the green proxies to the Inspector at least a few days before the Annual Meeting so we don’t all have to wait around while the Inspector tries to record hundreds of proxies accurately under great time pressure.

Katie Teague.  Teague has supporters canvassing at least one neighborhood asking shareholders to use the green proxy and mark FOR her and WITHHOLD for every other candidate. In her latest Next Door post, she explains Steven Muro has assured her he and Dave Stephenson will honor shareholder intentions marked on the green proxy, and asserts that how you mark a white proxy “doesn’t matter” to Frank Mezzatesta who will be voting those proxies.

Frank Mezzatesta and other incumbents.  President Mezzatesta has mailed an official Crestview letter to all 628 shareholders saying “some” of the challengers are trying to “overthrow” and “disrupt” the incumbent Board.  He questions why they are spending their own money to get elected.  (A fair question to Mezzatesta would be why he is spending shareholder money, instead of his own, to get reelected.)  Other than this, we are not aware of any campaign activities by any incumbent, although there would be nothing unlawful or unethical about that.

Steven Muro and Dave Stephenson.  Muro and Stephenson have sent out two email blasts this week.  The one today responds to Mezzatesta’s letter saying “our company, led by this President, is not headed in the right direction.”  The earlier one asks shareholders to use the green proxy, not the white one, or to attend the meeting in person.  After allocating enough green proxy votes to elect themselves, they will allocate votes to “any other candidates that we choose based on how you marked your proxy.”  They are not recommending WITHHOLD for any candidate.  Both emails are posted on their website.

Ron Rieger.  We are not aware of any campaign activities by, or endorsements for, Ron Rieger.

Shareholder Craig Crosby has sent out an email blast endorsing incumbent Alma Quezada and challengers Steven Muro and Dave Stephenson.

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