UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
INVESTMENT COMPANY ACT FILE NUMBER: 811-3916
NAME OF REGISTRANT: VANGUARD SPECIALIZED FUNDS
ADDRESS OF REGISTRANT: PO BOX 2600, VALLEY FORGE, PA 19482
NAME AND ADDRESS OF AGENT FOR SERVICE: HEIDI STAM
PO BOX 876
VALLEY FORGE, PA 19482
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (610) 669-1000
DATE OF FISCAL YEAR END: JANUARY 31
DATE OF REPORTING PERIOD: JULY 1, 2011 - JUNE 30, 2012
FUND: VANGUARD DIVIDEND GROWTH FUND
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ISSUER: Abbott Laboratories
TICKER: ABT CUSIP: 002824100
MEETING DATE: 4/27/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR ROBERT J. ALPERN ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR ROXANNE S. AUSTIN ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR SALLY E. BLOUNT ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR W. JAMES FARRELL ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR EDWARD M. LIDDY ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR NANCY MCKINSTRY ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR PHEBE N. NOVAKOVIC ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR WILLIAM A. OSBORN ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR SAMUEL C. SCOTT, III ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR GLENN F. TILTON ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR MILES D. WHITE ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: REPORT ON RESEARCH ANIMAL CARE AND SHAREHOLDER YES ABSTAIN AGAINST
PROMOTION OF TESTING ALTERNATIVES
PROPOSAL #5: REPORT ON LOBBYING PAYMENTS AND POLICY SHAREHOLDER YES ABSTAIN AGAINST
PROPOSAL #6: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #7: ADOPT ANTI GROSS-UP POLICY SHAREHOLDER YES AGAINST FOR
PROPOSAL #8: STOCK RETENTION/HOLDING PERIOD SHAREHOLDER YES AGAINST FOR
PROPOSAL #9: CEASE COMPLIANCE ADJUSTMENTS TO SHAREHOLDER YES AGAINST FOR
PERFORMANCE CRITERIA
PROPOSAL #10: PRO-RATA VESTING OF EQUITY PLANS SHAREHOLDER YES AGAINST FOR
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ISSUER: Accenture plc
TICKER: CSA CUSIP: G1151C101
MEETING DATE: 2/9/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ACCEPT FINANCIAL STATEMENTS AND ISSUER YES FOR FOR
STATUTORY REPORTS
PROPOSAL #2: REELECT DINA DUBLON AS A DIRECTOR ISSUER YES FOR FOR
PROPOSAL #3: REELECT WILLIAM D. GREEN AS A DIRECTOR ISSUER YES FOR FOR
PROPOSAL #4: REELECT NOBUYUKI IDEI AS A DIRECTOR ISSUER YES FOR FOR
PROPOSAL #5: REELECT MARJORIE MAGNER AS A DIRECTOR ISSUER YES FOR FOR
PROPOSAL #6: APPROVE AUDITORS AND AUTHORIZE BOARD TO ISSUER YES FOR FOR
FIX THEIR REMUNERATION
PROPOSAL #7: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #8: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR
PROPOSAL #9: AUTHORIZE THE HOLDING OF THE 2013 AGM AT ISSUER YES FOR FOR
A LOCATION OUTSIDE IRELAND
PROPOSAL #10: AUTHORIZE OPEN-MARKET PURCHASES OF ISSUER YES FOR FOR
CLASS A ORDINARY SHARES
PROPOSAL #11: DETERMINE THE PRICE RANGE AT WHICH ISSUER YES FOR FOR
ACCENTURE PLC CAN RE-ISSUE SHARES THAT IT ACQUIRES AS
TREASURY STOCK
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ISSUER: ACE Limited
TICKER: ACE CUSIP: H0023R105
MEETING DATE: 1/9/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: APPROVE DIVIDEND DISTRIBUTION FROM LEGAL ISSUER YES FOR FOR
RESERVES
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ISSUER: ACE Limited
TICKER: ACE CUSIP: H0023R105
MEETING DATE: 5/16/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT MICHAEL G. ATIEH AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT MARY A. CIRILLO AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT THOMAS J. NEFF AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #2.1: APPROVE ANNUAL REPORT ISSUER YES FOR FOR
PROPOSAL #2.2: ACCEPT STATUTORY FINANCIAL STATEMENTS ISSUER YES FOR FOR
PROPOSAL #2.3: ACCEPT CONSOLIDATED FINANCIAL ISSUER YES FOR FOR
STATEMENTS
PROPOSAL #3: APPROVE ALLOCATION OF INCOME AND ISSUER YES FOR FOR
DIVIDENDS
PROPOSAL #4: APPROVE DISCHARGE OF BOARD AND SENIOR ISSUER YES FOR FOR
MANAGEMENT
PROPOSAL #5: APPROVE CREATION OF CHF 4.2 BILLION POOL ISSUER YES FOR FOR
OF CAPITAL WITHOUT PREEMPTIVE RIGHTS
PROPOSAL #6.1: RATIFY PRICEWATERHOUSECOOPERS AG AS ISSUER YES FOR FOR
AUDITORS
PROPOSAL #6.2: RATIFY PRICEWATERHOUSECOOPERS LLP AS ISSUER YES FOR FOR
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM AS
AUDITORS
PROPOSAL #6.3: RATIFY BDO AG AS SPECIAL AUDITORS ISSUER YES FOR FOR
PROPOSAL #7: APPROVE DIVIDEND DISTRIBUTION FROM LEGAL ISSUER YES FOR FOR
RESERVES THROUGH REDUCTION IN SHARE CAPITAL
PROPOSAL #8: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #9: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR
PLAN
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ISSUER: Amgen Inc.
TICKER: AMGN CUSIP: 031162100
MEETING DATE: 5/23/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR DAVID BALTIMORE ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR FRANK J. BIONDI, JR. ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR ROBERT A. BRADWAY ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR FRANCOIS DE CARBONNEL ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR VANCE D. COFFMAN ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR REBECCA M. HENDERSON ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR FRANK C. HERRINGER ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR TYLER JACKS ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR GILBERT S. OMENN ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR JUDITH C. PELHAM ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR J. PAUL REASON ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR LEONARD D. SCHAEFFER ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR KEVIN W. SHARER ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR RONALD D. SUGAR ISSUER YES FOR FOR
PROPOSAL #15: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #16: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #17: PROVIDE RIGHT TO ACT BY WRITTEN CONSENT ISSUER YES FOR FOR
PROPOSAL #18: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #19: REPORT ON RESEARCH ANIMAL CARE AND SHAREHOLDER YES ABSTAIN AGAINST
PROMOTION OF TESTING ALTERNATIVES
PROPOSAL #20: REPORT ON LOBBYING PAYMENTS AND POLICY SHAREHOLDER YES ABSTAIN AGAINST
PROPOSAL #21: LIMIT CEO TO SERVING ON ONLY ONE OTHER SHAREHOLDER YES AGAINST FOR
BOARD
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ISSUER: Automatic Data Processing, Inc.
TICKER: ADP CUSIP: 053015103
MEETING DATE: 11/8/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR GREGORY D. BRENNEMAN ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR LESLIE A. BRUN ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR GARY C. BUTLER ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR RICHARD T. CLARK ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR ERIC C. FAST ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR LINDA R. GOODEN ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR R. GLENN HUBBARD ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR JOHN P. JONES ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR ENRIQUE T. SALEM ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR GREGORY L. SUMME ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
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ISSUER: BG Group plc
TICKER: BG. CUSIP: G1245Z108
MEETING DATE: 5/16/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ACCEPT FINANCIAL STATEMENTS AND ISSUER YES FOR FOR
STATUTORY REPORTS
PROPOSAL #2: APPROVE REMUNERATION REPORT ISSUER YES FOR FOR
PROPOSAL #3: APPROVE FINAL DIVIDEND ISSUER YES FOR FOR
PROPOSAL #4: ELECT VIVIENNE COX AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #5: ELECT CHRIS FINLAYSON AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #6: ELECT ANDREW GOULD AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #7: RE-ELECT PETER BACKHOUSE AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #8: RE-ELECT FABIO BARBOSA AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #9: RE-ELECT SIR FRANK CHAPMAN AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #10: RE-ELECT BARONESS HOGG AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #11: RE-ELECT DR JOHN HOOD AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #12: RE-ELECT MARTIN HOUSTON AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #13: RE-ELECT CAIO KOCH-WESER AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #14: RE-ELECT SIR DAVID MANNING AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #15: RE-ELECT MARK SELIGMAN AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #16: RE-ELECT PATRICK THOMAS AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #17: RE-ELECT PHILIPPE VARIN AS DIRECTOR ISSUER YES FOR FOR
PROPOSAL #18: REAPPOINT PRICEWATERHOUSECOOPERS LLP AS ISSUER YES FOR FOR
AUDITORS
PROPOSAL #19: AUTHORISE THE AUDIT COMMITTEE TO FIX ISSUER YES FOR FOR
REMUNERATION OF AUDITORS
PROPOSAL #20: APPROVE EU POLITICAL DONATIONS AND ISSUER YES FOR FOR
EXPENDITURE
PROPOSAL #21: AUTHORISE ISSUE OF EQUITY WITH PRE- ISSUER YES FOR FOR
EMPTIVE RIGHTS
PROPOSAL #22: AUTHORISE ISSUE OF EQUITY WITHOUT PRE- ISSUER YES FOR FOR
EMPTIVE RIGHTS
PROPOSAL #23: AUTHORISE MARKET PURCHASE ISSUER YES FOR FOR
PROPOSAL #24: AUTHORISE THE COMPANY TO CALL EGM WITH ISSUER YES FOR FOR
TWO WEEKS' NOTICE
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ISSUER: Cardinal Health, Inc.
TICKER: CAH CUSIP: 14149Y108
MEETING DATE: 11/2/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR COLLEEN F. ARNOLD ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR GEORGE S. BARRETT ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR GLENN A. BRITT ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR CARRIE S. COX ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR CALVIN DARDEN ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR BRUCE L. DOWNEY ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR JOHN F. FINN ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR GREGORY B. KENNY ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR DAVID P. KING ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR RICHARD C. NOTEBAERT ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR DAVID W. RAISBECK ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR JEAN G. SPAULDING ISSUER YES FOR FOR
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #15: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #16: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
PROPOSAL #17: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
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ISSUER: Chevron Corporation
TICKER: CVX CUSIP: 166764100
MEETING DATE: 5/30/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR LINNET F. DEILY ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ROBERT E. DENHAM ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR CHUCK HAGEL ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR ENRIQUE HERNANDEZ, JR. ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR GEORGE L. KIRKLAND ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR CHARLES W. MOORMAN, IV ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR KEVIN W. SHARER ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR JOHN G. STUMPF ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR RONALD D. SUGAR ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR CARL WARE ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR JOHN S. WATSON ISSUER YES FOR FOR
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #14: REMOVE EXCLUSIVE VENUE PROVISION SHAREHOLDER YES AGAINST FOR
PROPOSAL #15: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #16: REPORT ON LOBBYING PAYMENTS AND POLICY SHAREHOLDER YES AGAINST FOR
PROPOSAL #17: ADOPT GUIDELINES FOR COUNTRY SELECTION SHAREHOLDER YES AGAINST FOR
PROPOSAL #18: REPORT ON HYDRAULIC FRACTURING RISKS TO SHAREHOLDER YES AGAINST FOR
COMPANY
PROPOSAL #19: REPORT ON ACCIDENT RISK REDUCTION SHAREHOLDER YES AGAINST FOR
EFFORTS
PROPOSAL #20: AMEND ARTICLES/BYLAWS/CHARTER -- CALL SHAREHOLDER YES AGAINST FOR
SPECIAL MEETINGS
PROPOSAL #21: REQUEST DIRECTOR NOMINEE WITH SHAREHOLDER YES AGAINST FOR
ENVIRONMENTAL QUALIFICATIONS
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ISSUER: Colgate-Palmolive Company
TICKER: CL CUSIP: 194162103
MEETING DATE: 5/11/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR NIKESH ARORA ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JOHN T. CAHILL ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR IAN COOK ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR HELENE D. GAYLE ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR ELLEN M. HANCOCK ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR JOSEPH JIMENEZ ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR RICHARD J. KOGAN ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR DELANO E. LEWIS ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR J. PEDRO REINHARD ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR STEPHEN I. SADOVE ISSUER YES FOR FOR
PROPOSAL #11: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #12: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #13: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
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ISSUER: Comcast Corporation
TICKER: CMCSA CUSIP: 20030N101
MEETING DATE: 5/31/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR KENNETH J. BACON ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR SHELDON M. BONOVITZ ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR JOSEPH J. COLLINS ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR J. MICHAEL COOK ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR GERALD L. HASSELL ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR JEFFREY A. HONICKMAN ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR EDUARDO G. MESTRE ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR BRIAN L. ROBERTS ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR RALPH J. ROBERTS ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR JOHNATHAN A. RODGERS ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR JUDITH RODIN ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR
PLAN
PROPOSAL #4: AMEND NONQUALIFIED EMPLOYEE STOCK ISSUER YES FOR FOR
PURCHASE PLAN
PROPOSAL #5: RESTORE OR PROVIDE FOR CUMULATIVE VOTING SHAREHOLDER YES AGAINST FOR
PROPOSAL #6: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #7: STOCK RETENTION/HOLDING PERIOD SHAREHOLDER YES AGAINST FOR
PROPOSAL #8: SUBMIT SHAREHOLDER RIGHTS PLAN (POISON SHAREHOLDER YES FOR AGAINST
PILL) TO SHAREHOLDER VOTE
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ISSUER: CVS Caremark Corporation
TICKER: CVS CUSIP: 126650100
MEETING DATE: 5/10/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR C. DAVID BROWN, II ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR DAVID W. DORMAN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR ANNE M. FINUCANE ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR KRISTEN GIBNEY WILLIAMS ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR MARIAN L. HEARD ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR LARRY J. MERLO ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR JEAN-PIERRE MILLON ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR C.A. LANCE PICCOLO ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR RICHARD J. SWIFT ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR TONY L. WHITE ISSUER YES FOR FOR
PROPOSAL #11: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #12: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #13: PROVIDE RIGHT TO ACT BY WRITTEN CONSENT ISSUER YES FOR FOR
PROPOSAL #14: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES ABSTAIN AGAINST
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ISSUER: Dominion Resources, Inc.
TICKER: D CUSIP: 25746U109
MEETING DATE: 5/8/2012 �� FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR WILLIAM P. BARR ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR PETER W. BROWN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR HELEN E. DRAGAS ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR THOMAS F. FARRELL, II ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR JOHN W. HARRIS ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR ROBERT S. JEPSON, JR. ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR MARK J. KINGTON ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR FRANK S. ROYAL ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR ROBERT H. SPILMAN, JR. ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR DAVID A. WOLLARD ISSUER YES FOR FOR
PROPOSAL #11: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #12: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #13: ADOPT RENEWABLE ENERGY PRODUCTION GOAL SHAREHOLDER YES AGAINST FOR
PROPOSAL #14: REPORT ON ENCOURAGING CUSTOMER USE OF SHAREHOLDER YES AGAINST FOR
RENEWABLE ENERGY SYSTEMS
PROPOSAL #15: REPORT ON PLANT CLOSURES SHAREHOLDER YES AGAINST FOR
PROPOSAL #16: REPORT ON COAL USE FROM MOUNTAINTOP SHAREHOLDER YES AGAINST FOR
REMOVAL MINING
PROPOSAL #17: REPORT ON IMPACTS AND RISKS OF NATURAL SHAREHOLDER YES AGAINST FOR
GAS
PROPOSAL #18: REVIEW AND REPORT ON NUCLEAR SAFETY SHAREHOLDER YES AGAINST FOR
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ISSUER: Ecolab Inc.
TICKER: ECL CUSIP: 278865100
MEETING DATE: 11/30/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ISSUE SHARES IN CONNECTION WITH ISSUER YES FOR FOR
ACQUISITION
PROPOSAL #2: INCREASE AUTHORIZED COMMON STOCK ISSUER YES AGAINST AGAINST
PROPOSAL #3: ADJOURN MEETING ISSUER YES AGAINST AGAINST
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ISSUER: Ecolab Inc.
TICKER: ECL CUSIP: 278865100
MEETING DATE: 5/3/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR LESLIE S. BILLER ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JERRY A. GRUNDHOFER ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR MICHAEL LARSON ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR VICTORIA J. REICH ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR JOHN J. ZILLMER ISSUER YES FOR FOR
PROPOSAL #6: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #7: ELIMINATE SUPERMAJORITY VOTE REQUIREMENT ISSUER YES FOR FOR
PROPOSAL #8: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #9: ADOPT PROXY STATEMENT REPORTING ON SHAREHOLDER YES ABSTAIN AGAINST
POLITICAL CONTRIBUTIONS AND ADVISORY VOTE
PROPOSAL #10: SUBMIT SHAREHOLDER RIGHTS PLAN (POISON SHAREHOLDER YES AGAINST FOR
PILL) TO SHAREHOLDER VOTE
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ISSUER: Emerson Electric Co.
TICKER: EMR CUSIP: 291011104
MEETING DATE: 2/7/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR C. FERNANDEZ G. ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR A.F. GOLDEN ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR W.R. JOHNSON ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR J.B. MENZER ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR A.A. BUSCH, III ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR R.I. RIDGWAY ISSUER YES FOR FOR
PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #4: REPORT ON SUSTAINABILITY SHAREHOLDER YES ABSTAIN AGAINST
PROPOSAL #5: DECLASSIFY THE BOARD OF DIRECTORS SHAREHOLDER YES FOR AGAINST
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ISSUER: Enbridge Inc.
TICKER: ENB CUSIP: 29250N105
MEETING DATE: 5/9/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR DAVID A. ARLEDGE ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR JAMES J. BLANCHARD ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR J. LORNE BRAITHWAITE ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR PATRICK D. DANIEL ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR J. HERB ENGLAND ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR CHARLES W. FISCHER ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR V. MAUREEN KEMPSTON ISSUER YES FOR FOR
DARKES
PROPOSAL #1.8: ELECT DIRECTOR DAVID A. LESLIE ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR AL MONACO ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR GEORGE K. PETTY ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR CHARLES E. SHULTZ ISSUER YES FOR FOR
PROPOSAL #1.12: ELECT DIRECTOR DAN C. TUTCHER ISSUER YES FOR FOR
PROPOSAL #1.13: ELECT DIRECTOR CATHERINE L. WILLIAMS ISSUER YES FOR FOR
PROPOSAL #2: RATIFY PRICEWATERHOUSECOOPERS LLP AS ISSUER YES FOR FOR
AUDITORS
PROPOSAL #3: ADVISORY VOTE ON EXECUTIVE COMPENSATION ISSUER YES FOR FOR
APPROACH
PROPOSAL #4: COMMUNITY-ENVIRONMENT IMPACT SHAREHOLDER YES ABSTAIN AGAINST
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Exxon Mobil Corporation
TICKER: XOM CUSIP: 30231G102
MEETING DATE: 5/30/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR M.J. BOSKIN ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR P. BRABECK-LETMATHE ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR L.R. FAULKNER ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR J.S. FISHMAN ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR H.H. FORE ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR K.C. FRAZIER ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR W.W. GEORGE ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR S.J. PALMISANO ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR S.S. REINEMUND ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR R.W. TILLERSON ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR E.E. WHITACRE, JR. ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #5: REQUIRE A MAJORITY VOTE FOR THE ELECTION SHAREHOLDER YES AGAINST FOR
OF DIRECTORS
PROPOSAL #6: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES AGAINST FOR
PROPOSAL #7: AMEND EEO POLICY TO PROHIBIT SHAREHOLDER YES AGAINST FOR
DISCRIMINATION BASED ON SEXUAL ORIENTATION AND GENDER
IDENTITY
PROPOSAL #8: REPORT ON HYDRAULIC FRACTURING RISKS TO SHAREHOLDER YES AGAINST FOR
COMPANY
PROPOSAL #9: ADOPT QUANTITATIVE GHG GOALS FOR SHAREHOLDER YES AGAINST FOR
PRODUCTS AND OPERATIONS
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: General Dynamics Corporation
TICKER: GD CUSIP: 369550108
MEETING DATE: 5/2/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR MARY T. BARRA ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR NICHOLAS D. CHABRAJA ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JAMES S. CROWN ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR WILLIAM P. FRICKS ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR JAY L. JOHNSON ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR JAMES L. JONES ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR PAUL G. KAMINSKI ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR JOHN M. KEANE ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR LESTER L. LYLES ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR PHEBE N. NOVAKOVIC ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR WILLIAM A. OSBORN ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR ROBERT WALMSLEY ISSUER YES FOR FOR
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #15: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #16: REVIEW AND ASSESS HUMAN RIGHTS POLICIES SHAREHOLDER YES ABSTAIN AGAINST
PROPOSAL #17: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Honeywell International Inc.
TICKER: HON CUSIP: 438516106
MEETING DATE: 4/23/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR GORDON M. BETHUNE ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR KEVIN BURKE ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JAIME CHICO PARDO ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR DAVID M. COTE ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR D. SCOTT DAVIS ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR LINNET F. DEILY ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR JUDD GREGG ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR CLIVE R. HOLLICK ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR GEORGE PAZ ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR BRADLEY T. SHEARES ISSUER YES FOR FOR
PROPOSAL #11: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #12: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #13: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #14: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES ABSTAIN AGAINST
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: International Business Machines Corporation
TICKER: IBM CUSIP: 459200101
MEETING DATE: 4/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR ALAIN J.P. BELDA ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR WILLIAM R. BRODY ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR KENNETH I. CHENAULT ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR MICHAEL L. ESKEW ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR DAVID N. FARR ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR SHIRLEY ANN JACKSON ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR ANDREW N. LIVERIS ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR W. JAMES MCNERNEY, JR. ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR JAMES W. OWENS ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR SAMUEL J. PALMISANO ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR VIRGINIA M. ROMETTY ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR JOAN E. SPERO ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR SIDNEY TAUREL ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR LORENZO H. ZAMBRANO ISSUER YES FOR FOR
PROPOSAL #15: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #16: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #17: PROVIDE FOR CUMULATIVE VOTING SHAREHOLDER YES AGAINST FOR
PROPOSAL #18: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES AGAINST FOR
PROPOSAL #19: REPORT ON LOBBYING EXPENSES SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Johnson & Johnson
TICKER: JNJ CUSIP: 478160104
MEETING DATE: 4/26/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR MARY SUE COLEMAN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JAMES G. CULLEN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR IAN E.L. DAVIS ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR ALEX GORSKY ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR MICHAEL M.E. JOHNS ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR SUSAN L. LINDQUIST ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR ANNE M. MULCAHY ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR LEO F. MULLIN ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR WILLIAM D. PEREZ ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR CHARLES PRINCE ISSUER YES FOR �� FOR
PROPOSAL #11: ELECT DIRECTOR DAVID SATCHER ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR WILLIAM C. WELDON ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR RONALD A. WILLIAMS ISSUER YES FOR FOR
PROPOSAL #14: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #15: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #16: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #17: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #18: REQUIRE SHAREHOLDER VOTE TO APPROVE SHAREHOLDER YES AGAINST FOR
POLITICAL CONTRIBUTIONS
PROPOSAL #19: ADOPT ANIMAL-FREE TRAINING METHODS SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Lockheed Martin Corporation
TICKER: LMT CUSIP: 539830109
MEETING DATE: 4/26/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR NOLAN D. ARCHIBALD ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ROSALIND G. BREWER ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR DAVID B. BURRITT ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR JAMES O. ELLIS, JR. ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR THOMAS J. FALK ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR GWENDOLYN S. KING ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR JAMES M. LOY ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR DOUGLAS H. MCCORKINDALE ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR JOSEPH W. RALSTON ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR ANNE STEVENS ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ROBERT J. STEVENS ISSUER YES FOR FOR
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #14: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Lowe's Companies, Inc.
TICKER: LOW CUSIP: 548661107
MEETING DATE: 6/1/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR RAUL ALVAREZ ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR DAVID W. BERNAUER ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR LEONARD L. BERRY ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR PETER C. BROWNING ISSUER YES�� FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR RICHARD W. DREILING ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR DAWN E. HUDSON ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR ROBERT L. JOHNSON ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR MARSHALL O. LARSEN ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR RICHARD K. LOCHRIDGE ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR ROBERT A. NIBLOCK ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR ERIC C. WISEMAN ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR
PLAN
PROPOSAL #5: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES AGAINST FOR
PROPOSAL #6: SUBMIT SEVERANCE AGREEMENT (CHANGE-IN- SHAREHOLDER YES AGAINST FOR
CONTROL) TO SHAREHOLDER VOTE
PROPOSAL #7: STOCK RETENTION/HOLDING PERIOD SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Marsh & McLennan Companies, Inc.
TICKER: MMC CUSIP: 571748102
MEETING DATE: 5/17/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR ZACHARY W. CARTER ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR BRIAN DUPERREAULT ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR OSCAR FANJUL ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR H. EDWARD HANWAY ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR ELAINE LA ROCHE ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR LORD LANG ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR STEVEN A. MILLS ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR BRUCE P. NOLOP ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR MARC D. OKEN ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR MORTON O. SCHAPIRO ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ADELE SIMMONS ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR LLOYD M. YATES ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR R. DAVID YOST ISSUER YES FOR FOR
PROPOSAL #14: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #15: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Mattel, Inc.
TICKER: MAT CUSIP: 577081102
MEETING DATE: 5/10/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR MICHAEL J. DOLAN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ROBERT A. ECKERT ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR TREVOR A. EDWARDS ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR FRANCES D. FERGUSSON ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR DOMINIC NG ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR VASANT M. PRABHU ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR ANDREA L. RICH ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR DEAN A. SCARBOROUGH ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR CHRISTOPHER A. SINCLAIR ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR BRYAN G. STOCKTON ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR DIRK VAN DE PUT ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR KATHY WHITE LOYD ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #14: APPROVE EXECUTIVE INCENTIVE BONUS PLAN ISSUER YES FOR FOR
PROPOSAL #15: RATIFY AUDITORS ISSUER YES FOR FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: McDonald's Corporation
TICKER: MCD CUSIP: 580135101
MEETING DATE: 5/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR ROBERT A. ECKERT ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ENRIQUE HERNANDEZ, JR. ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JEANNE P. JACKSON ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR ANDREW J. MCKENNA ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR DONALD THOMPSON ISSUER YES FOR FOR
PROPOSAL #6: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #7: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #8: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR
PROPOSAL #9: PROVIDE RIGHT TO CALL SPECIAL MEETING ISSUER YES FOR FOR
PROPOSAL #10: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #11: REPORT ON POLICY RESPONSES TO SHAREHOLDER YES ABSTAIN AGAINST
CHILDREN'S HEALTH CONCERNS AND FAST FOOD
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Medtronic, Inc.
TICKER: MDT CUSIP: 585055106
MEETING DATE: 8/25/2011 �� FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: DIRECTOR RICHARD H. ANDERSON ISSUER YES FOR FOR
PROPOSAL #1.2: DIRECTOR DAVID L. CALHOUN ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR VICTOR J. DZAU ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR OMAR ISHRAK ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR SHIRLEY ANN JACKSON ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR JAMES T. LENEHAN ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR DENISE M. O'LEARY ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR KENDALL J. POWELL ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR ROBERT C. POZEN ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR JEAN-PIERRE ROSSO ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR JACK W. SCHULER ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Microsoft Corporation
TICKER: MSFT CUSIP: 594918104
MEETING DATE: 11/15/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR STEVEN A. BALLMER ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR DINA DUBLON ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR WILLIAM H. GATES, III ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR RAYMOND V. GILMARTIN ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR REED HASTINGS ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR MARIA M. KLAWE ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR DAVID F. MARQUARDT ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR CHARLES H. NOSKI ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR HELMUT PANKE ISSUER YES FOR FOR
PROPOSAL #10: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #11: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: AMEND BYLAWS TO ESTABLISH A BOARD SHAREHOLDER YES ABSTAIN AGAINST
COMMITTEE ON ENVIRONMENTAL SUSTAINABILITY
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: NIKE, Inc.
TICKER: NKE CUSIP: 654106103
MEETING DATE: 9/19/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR ALAN B. GRAF, JR. ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR JOHN C. LECHLEITER ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR PHYLLIS M. WISE ISSUER YES WITHHOLD AGAINST
PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #3: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Northrop Grumman Corporation
TICKER: NOC CUSIP: 666807102
MEETING DATE: 5/16/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR WESLEY G. BUSH ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR LEWIS W. COLEMAN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR VICTOR H. FAZIO ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR DONALD E. FELSINGER ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR STEPHEN E. FRANK ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR BRUCE S. GORDON ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR MADELEINE A. KLEINER ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR KARL J. KRAPEK ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR RICHARD B. MYERS ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR AULANA L. PETERS ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR GARY ROUGHEAD ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR THOMAS M. SCHOEWE ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR KEVIN W. SHARER ISSUER YES FOR FOR
PROPOSAL #14: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #15: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #16: AMEND CERTIFICATE OF INCORPORATION OF ISSUER YES FOR FOR
TITAN II, INC.
PROPOSAL #17: PROVIDE RIGHT TO ACT BY WRITTEN CONSENT ISSUER YES FOR FOR
PROPOSAL #18: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Occidental Petroleum Corporation
TICKER: OXY CUSIP: 674599105
MEETING DATE: 5/4/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR SPENCER ABRAHAM ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR HOWARD I. ATKINS ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR STEPHEN I. CHAZEN ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR EDWARD P. DJEREJIAN ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR JOHN E. FEICK ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR MARGARET M. FORAN ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR CARLOS M. GUTIERREZ ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR RAY R. IRANI ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR AVEDICK B. POLADIAN ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR AZIZ D. SYRIANI ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ROSEMARY TOMICH ISSUER YES FOR FOR
PROPOSAL #12: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: REQUEST DIRECTOR NOMINEE WITH SHAREHOLDER YES ABSTAIN AGAINST
ENVIRONMENTAL QUALIFICATIONS
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Oracle Corporation
TICKER: ORCL CUSIP: 68389X105
MEETING DATE: 10/12/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR JEFFREY S. BERG ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR H. RAYMOND BINGHAM ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR MICHAEL J. BOSKIN ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR SAFRA A. CATZ ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR BRUCE R. CHIZEN ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR GEORGE H. CONRADES ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR LAWRENCE J. ELLISON ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR HECTOR GARCIA-MOLINA ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR JEFFREY O. HENLEY ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR MARK V. HURD ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR DONALD L. LUCAS ISSUER YES FOR FOR
PROPOSAL #1.12: DIRECTOR NAOMI O. SELIGMAN ISSUER YES FOR FOR
PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #3: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR N/A
PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #5: STOCK RETENTION/HOLDING PERIOD SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: PepsiCo, Inc.
TICKER: PEP CUSIP: 713448108
MEETING DATE: 5/2/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR SHONA L. BROWN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR IAN M. COOK ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR DINA DUBLON ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR VICTOR J. DZAU ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR RAY L. HUNT ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR ALBERTO IBARGUEN ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR INDRA K. NOOYI ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR SHARON PERCY ROCKEFELLER ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR JAMES J. SCHIRO ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR LLOYD G. TROTTER ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR DANIEL VASELLA ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR ALBERTO WEISSER ISSUER YES FOR FOR
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #15: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #16: REPORT ON LOBBYING PAYMENTS AND POLICY SHAREHOLDER YES AGAINST FOR
PROPOSAL #17: ESTABLISH RISK OVERSIGHT COMMITTEE SHAREHOLDER YES AGAINST FOR
PROPOSAL #18: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Pfizer Inc.
TICKER: PFE CUSIP: 717081103
MEETING DATE: 4/26/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR DENNIS A. AUSIELLO ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR M. ANTHONY BURNS ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR W. DON CORNWELL ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR FRANCES D. FERGUSSON ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR WILLIAM H. GRAY, III ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR HELEN H. HOBBS ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR CONSTANCE J. HORNER ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR JAMES M. KILTS ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR GEORGE A. LORCH ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR JOHN P. MASCOTTE ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR SUZANNE NORA JOHNSON ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR IAN C. READ ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR STEPHEN W. SANGER ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR MARC TESSIER-LAVIGNE ISSUER YES FOR FOR
PROPOSAL #15: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #16: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #17: PUBLISH POLITICAL CONTRIBUTIONS SHAREHOLDER YES AGAINST FOR
PROPOSAL #18: PROVIDE RIGHT TO ACT BY WRITTEN CONSENT SHAREHOLDER YES AGAINST FOR
PROPOSAL #19: AMEND ARTICLES/BYLAWS/CHARTER -- CALL SHAREHOLDER YES AGAINST FOR
SPECIAL MEETINGS
PROPOSAL #20: NON-EMPLOYEE DIRECTOR COMPENSATION SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Praxair, Inc.
TICKER: PX CUSIP: 74005P104
MEETING DATE: 4/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR STEPHEN F. ANGEL ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR OSCAR BERNARDES ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR BRET K. CLAYTON ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR NANCE K. DICCIANI ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR EDWARD G. GALANTE ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR CLAIRE W. GARGALLI ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR IRA D. HALL ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR RAYMOND W. LEBOEUF ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR LARRY D. MCVAY ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR WAYNE T. SMITH ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR ROBERT L. WOOD ISSUER YES FOR FOR
PROPOSAL #2: PROVIDE RIGHT TO CALL SPECIAL MEETING ISSUER YES FOR FOR
PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #4: ADOPT PROXY STATEMENT REPORTING ON SHAREHOLDER YES ABSTAIN AGAINST
POLITICAL CONTRIBUTIONS AND ADVISORY VOTE
PROPOSAL #5: RATIFY AUDITORS ISSUER YES FOR FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Sysco Corporation
TICKER: SYY CUSIP: 871829107
MEETING DATE: 11/16/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR JUDITH B. CRAVEN, M.D. ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR WILLIAM J. DELANEY ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR LARRY C. GLASSCOCK ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR RICHARD G. TILGHMAN ISSUER YES FOR FOR
PROPOSAL #5: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #6: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
PROPOSAL #7: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR
PROPOSAL #8: RATIFY AUDITORS ISSUER YES FOR FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Target Corporation
TICKER: TGT CUSIP: 87612E106
MEETING DATE: 6/13/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1.1: ELECT DIRECTOR ROXANNE S. AUSTIN ISSUER YES FOR FOR
PROPOSAL #1.2: ELECT DIRECTOR CALVIN DARDEN ISSUER YES FOR FOR
PROPOSAL #1.3: ELECT DIRECTOR MARY N. DILLON ISSUER YES FOR FOR
PROPOSAL #1.4: ELECT DIRECTOR JAMES A. JOHNSON ISSUER YES FOR FOR
PROPOSAL #1.5: ELECT DIRECTOR MARY E. MINNICK ISSUER YES FOR FOR
PROPOSAL #1.6: ELECT DIRECTOR ANNE M. MULCAHY ISSUER YES FOR FOR
PROPOSAL #1.7: ELECT DIRECTOR DERICA W. RICE ISSUER YES FOR FOR
PROPOSAL #1.8: ELECT DIRECTOR STEPHEN W. SANGER ISSUER YES FOR FOR
PROPOSAL #1.9: ELECT DIRECTOR GREGG W. STEINHAFEL ISSUER YES FOR FOR
PROPOSAL #1.10: ELECT DIRECTOR JOHN G. STUMPF ISSUER YES FOR FOR
PROPOSAL #1.11: ELECT DIRECTOR SOLOMON D. TRUJILLO ISSUER YES FOR FOR
PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #3: APPROVE EXECUTIVE INCENTIVE BONUS PLAN ISSUER YES FOR FOR
PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #5: REPORT ON ELECTRONICS RECYCLING AND SHAREHOLDER YES ABSTAIN AGAINST
PREVENTING E-WASTE EXPORT
PROPOSAL #6: PROHIBIT POLITICAL CONTRIBUTIONS SHAREHOLDER YES ABSTAIN AGAINST
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The Chubb Corporation
TICKER: CB CUSIP: 171232101
MEETING DATE: 4/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR ZOE BAIRD BUDINGER ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR SHEILA P. BURKE ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JAMES I. CASH, JR. ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR JOHN D. FINNEGAN ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR LAWRENCE W. KELLNER ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR MARTIN G. MCGUINN ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR LAWRENCE M. SMALL ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR JESS SODERBERG ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR DANIEL E. SOMERS ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR JAMES M. ZIMMERMAN ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ALFRED W. ZOLLAR ISSUER YES FOR FOR
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #14: ADOPT PROXY STATEMENT REPORTING ON SHAREHOLDER YES AGAINST FOR
POLITICAL CONTRIBUTIONS AND ADVISORY VOTE
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The Coca-Cola Company
TICKER: KO CUSIP: 191216100
MEETING DATE: 4/25/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR HERBERT A. ALLEN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR RONALD W. ALLEN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR HOWARD G. BUFFETT ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR RICHARD M. DALEY ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR BARRY DILLER ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR EVAN G. GREENBERG ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR ALEXIS M. HERMAN ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR MUHTAR KENT ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR DONALD R. KEOUGH ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR ROBERT A. KOTICK ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR MARIA ELENA LAGOMASINO ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR DONALD F. MCHENRY ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR SAM NUNN ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR JAMES D. ROBINSON, III ISSUER YES FOR FOR
PROPOSAL #15: ELECT DIRECTOR PETER V. UEBERROTH ISSUER YES FOR FOR
PROPOSAL #16: ELECT DIRECTOR JACOB WALLENBERG ISSUER YES FOR FOR
PROPOSAL #17: ELECT DIRECTOR JAMES B. WILLIAMS ISSUER YES FOR FOR
PROPOSAL #18: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #19: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The PNC Financial Services Group, Inc.
TICKER: PNC CUSIP: 693475105
MEETING DATE: 4/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR RICHARD O. BERNDT ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR CHARLES E. BUNCH ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR PAUL W. CHELLGREN ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR KAY COLES JAMES ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR RICHARD B. KELSON ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR BRUCE C. LINDSAY ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR ANTHONY A. MASSARO ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR JANE G. PEPPER ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR JAMES E. ROHR ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR DONALD J. SHEPARD ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR LORENE K. STEFFES ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR DENNIS F. STRIGL ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR THOMAS J. USHER ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR GEORGE H. WALLS, JR. ISSUER YES FOR FOR
PROPOSAL #15: ELECT DIRECTOR HELGE H. WEHMEIER ISSUER YES FOR FOR
PROPOSAL #16: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #17: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The Procter & Gamble Company
TICKER: PG CUSIP: 742718109
MEETING DATE: 10/11/2011 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR ANGELA F. BRALY ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR KENNETH I. CHENAULT ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR SCOTT D. COOK ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR SUSAN DESMOND-HELLMANN ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR ROBERT A. MCDONALD ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR W. JAMES MCNERNEY, JR. ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR JOHNATHAN A. RODGERS ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR MARGARET C. WHITMAN ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR MARY AGNES WILDEROTTER ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR PATRICIA A. WOERTZ ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ERNESTO ZEDILLO ISSUER YES FOR FOR
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #14: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR
PROPOSAL #15: AMEND ARTICLES OF INCORPORATION ISSUER YES FOR FOR
PROPOSAL #16: PROVIDE FOR CUMULATIVE VOTING SHAREHOLDER YES AGAINST FOR
PROPOSAL #17: PHASE OUT USE OF LABORATORY ANIMALS IN SHAREHOLDER YES ABSTAIN AGAINST
PET FOOD PRODUCT TESTING
PROPOSAL #18: REPORT ON POLITICAL CONTRIBUTIONS AND SHAREHOLDER YES ABSTAIN AGAINST
PROVIDE ADVISORY VOTE
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The Walt Disney Company
TICKER: DIS CUSIP: 254687106
MEETING DATE: 3/13/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR SUSAN E. ARNOLD ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JOHN S. CHEN ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JUDITH L. ESTRIN ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR ROBERT A. IGER ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR FRED H. LANGHAMMER ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR AYLWIN B. LEWIS ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR MONICA C. LOZANO ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR ROBERT W. MATSCHULLAT ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR SHERYL SANDBERG ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR ORIN C. SMITH ISSUER YES FOR FOR
PROPOSAL #11: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #12: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #13: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST
OFFICERS' COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: The Western Union Company
TICKER: WU CUSIP: 959802109
MEETING DATE: 5/23/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED?�� VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR RICHARD A. GOODMAN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ROBERTO G. MENDOZA ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR MICHAEL A. MILES, JR. ISSUER YES FOR FOR
PROPOSAL #4: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR
PROPOSAL #5: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #6: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #7: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #8: ADOPT PROXY ACCESS RIGHT SHAREHOLDER YES AGAINST FOR
PROPOSAL #9: ADOPT PROXY STATEMENT REPORTING ON SHAREHOLDER YES ABSTAIN AGAINST
POLITICAL CONTRIBUTIONS AND ADVISORY VOTE
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: United Parcel Service, Inc.
TICKER: UPS CUSIP: 911312106
MEETING DATE: 5/3/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR F. DUANE ACKERMAN ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR MICHAEL J. BURNS ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR D. SCOTT DAVIS ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR STUART E. EIZENSTAT ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR MICHAEL L. ESKEW ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR WILLIAM R. JOHNSON ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR CANDACE KENDLE ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR ANN M. LIVERMORE ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR RUDY H.P. MARKHAM ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR CLARK T. RANDT, JR. ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR JOHN W. THOMPSON ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR CAROL B. TOME ISSUER YES FOR FOR
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR
PROPOSAL #15: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR
PLAN
PROPOSAL #16: REPORT ON LOBBYING CONTRIBUTIONS AND SHAREHOLDER YES ABSTAIN AGAINST
EXPENSES
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: United Technologies Corporation
TICKER: UTX CUSIP: 913017109
MEETING DATE: 4/11/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR LOUIS R. CHENEVERT ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JOHN V. FARACI ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JEAN-PIERRE GARNIER, PH.D. ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR JAMIE S. GORELICK ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR EDWARD A. KANGAS ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR ELLEN J. KULLMAN ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR RICHARD D. MCCORMICK ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR HAROLD MCGRAW, III ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR RICHARD B. MYERS ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR H. PATRICK SWYGERT ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR ANDRÉ VILLENEUVE ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR CHRISTINE TODD WHITMAN ISSUER YES FOR FOR
PROPOSAL #13: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #14: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST
OFFICERS' COMPENSATION
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: UnitedHealth Group Incorporated
TICKER: UNH CUSIP: 91324P102
MEETING DATE: 6/4/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR WILLIAM C. BALLARD, JR. ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR RICHARD T. BURKE ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR ROBERT J. DARRETTA ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR STEPHEN J. HEMSLEY ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR MICHELE J. HOOPER ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR RODGER A. LAWSON ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR DOUGLAS W. LEATHERDALE ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR GLENN M. RENWICK ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR KENNETH I. SHINE ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR GAIL R. WILENSKY ISSUER YES FOR FOR
PROPOSAL #11: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #12: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #13: REPORT ON LOBBYING PAYMENTS AND POLICY SHAREHOLDER YES ABSTAIN AGAINST
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Wal-Mart Stores, Inc.
TICKER: WMT CUSIP: 931142103
MEETING DATE: 6/1/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR AIDA M. ALVAREZ ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR JAMES W. BREYER ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR M. MICHELE BURNS ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR JAMES I. CASH, JR. ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR ROGER C. CORBETT ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR DOUGLAS N. DAFT ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR MICHAEL T. DUKE ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR MARISSA A. MAYER ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR GREGORY B. PENNER ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR STEVEN S. REINEMUND ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR H. LEE SCOTT, JR. ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR ARNE M. SORENSON ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR JIM C. WALTON ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR S. ROBSON WALTON ISSUER YES FOR FOR
PROPOSAL #15: ELECT DIRECTOR CHRISTOPHER J. WILLIAMS ISSUER YES FOR FOR
PROPOSAL #16: ELECT DIRECTOR LINDA S. WOLF ISSUER YES FOR FOR
PROPOSAL #17: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #18: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #19: REPORT ON POLITICAL CONTRIBUTIONS SHAREHOLDER YES ABSTAIN AGAINST
PROPOSAL #20: REQUEST DIRECTOR NOMINEE WITH PATIENT SHAREHOLDER YES ABSTAIN AGAINST
SAFETY AND HEALTHCARE QUALITY EXPERIENCE
PROPOSAL #21: PERFORMANCE-BASED EQUITY AWARDS SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Waste Management, Inc.
TICKER: WM CUSIP: 94106L109
MEETING DATE: 5/10/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR BRADBURY H. ANDERSON ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR PASTORA SAN JUAN CAFFERTY ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR FRANK M. CLARK, JR. ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR PATRICK W. GROSS ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR JOHN C. POPE ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR W. ROBERT REUM ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR STEVEN G. ROTHMEIER ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR DAVID P. STEINER ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR THOMAS H. WEIDEMEYER ISSUER YES FOR FOR
PROPOSAL #10: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #11: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #12: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR
PLAN
PROPOSAL #13: STOCK RETENTION SHAREHOLDER YES AGAINST FOR
PROPOSAL #14: AMEND BYLAWS -- CALL SPECIAL MEETINGS SHAREHOLDER YES AGAINST FOR
----------------------------------------------------------------------------------------------------------------------------------------------------------------
ISSUER: Wells Fargo & Company
TICKER: WFC CUSIP: 949746101
MEETING DATE: 4/24/2012 FOR/AGAINST
PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT
PROPOSAL #1: ELECT DIRECTOR JOHN D. BAKER, II ISSUER YES FOR FOR
PROPOSAL #2: ELECT DIRECTOR ELAINE L. CHAO ISSUER YES FOR FOR
PROPOSAL #3: ELECT DIRECTOR JOHN S. CHEN ISSUER YES FOR FOR
PROPOSAL #4: ELECT DIRECTOR LLOYD H. DEAN ISSUER YES FOR FOR
PROPOSAL #5: ELECT DIRECTOR SUSAN E. ENGEL ISSUER YES FOR FOR
PROPOSAL #6: ELECT DIRECTOR ENRIQUE HERNANDEZ, JR. ISSUER YES FOR FOR
PROPOSAL #7: ELECT DIRECTOR DONALD M. JAMES ISSUER YES FOR FOR
PROPOSAL #8: ELECT DIRECTOR CYNTHIA H. MILLIGAN ISSUER YES FOR FOR
PROPOSAL #9: ELECT DIRECTOR NICHOLAS G. MOORE ISSUER YES FOR FOR
PROPOSAL #10: ELECT DIRECTOR FEDERICO F. PENA ISSUER YES FOR FOR
PROPOSAL #11: ELECT DIRECTOR PHILIP J. QUIGLEY ISSUER YES FOR FOR
PROPOSAL #12: ELECT DIRECTOR JUDITH M. RUNSTAD ISSUER YES FOR FOR
PROPOSAL #13: ELECT DIRECTOR STEPHEN W. SANGER ISSUER YES FOR FOR
PROPOSAL #14: ELECT DIRECTOR JOHN G. STUMPF ISSUER YES FOR FOR
PROPOSAL #15: ELECT DIRECTOR SUSAN G. SWENSON ISSUER YES FOR FOR
PROPOSAL #16: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR
OFFICERS' COMPENSATION
PROPOSAL #17: RATIFY AUDITORS ISSUER YES FOR FOR
PROPOSAL #18: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR
PROPOSAL #19: PROVIDE FOR CUMULATIVE VOTING SHAREHOLDER YES AGAINST FOR
PROPOSAL #20: ADOPT PROXY ACCESS RIGHT SHAREHOLDER YES AGAINST FOR
PROPOSAL #21: REQUIRE AUDIT COMMITTEE REVIEW AND SHAREHOLDER YES �� ABSTAIN AGAINST
REPORT ON CONTROLS RELATED TO LOANS, FORECLOSURE AND
SECURITIZATIONS
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
VANGUARD SPECIALIZED FUNDS
By: /s/F. William McNabb III
F. William McNabb III*
Chairman and Chief Executive Officer
Date: August 30, 2012
*By: /s/Heidi Stam
Heidi Stam, pursuant to a Power of Attorney filed on March 27, 2012,
see File Number 2-11444. Incorporated by Reference.
