UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act number 811-06373
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Sit Science and Technology Growth Fund, a series of Sit Mutual Funds, Inc.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Kelly K. Boston, Staff Attorney
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3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402
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(NAME AND ADDRESS OF AGENT FOR SERVICE)
Registrant's telephone number, including area code: 612-332-3223
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Date of fiscal year end: June 30, 2006
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Date of reporting period: July 1, 2005 - June 30, 2006
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PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Adobe Systems ADBE 00724F101 8/24/2005 1 Issue Shares in Connection with an
Inc. Acquisition Mgmt For For
2 Adjourn Meeting Mgmt For For
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Adobe Systems ADBE 00724F101 3/28/2006 1.1 Elect Director Edward W. Barnholt Mgmt For For
Inc. 1.2 Elect Director Michael R. Cannon Mgmt For For
1.3 Elect Director Bruce R. Chizen Mgmt For For
1.4 Elect Director James E. Daley Mgmt For For
1.5 Elect Director Charles M. Geschke Mgmt For For
1.6 Elect Director Delbert W. Yocam Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
3 Approve Executive Incentive Bonus Plan Mgmt For For
4 Ratify Auditors Mgmt For For
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Advanced AEIS 7973100 5/3/2006 1.1 Elect Director Douglas S. Schatz Mgmt For For
Energy 1.2 Elect Director Richard P. Beck Mgmt For Withhold
Industries, 1.3 Elect Director Hans-Georg Betz Mgmt For For
Inc. 1.4 Elect Director Joseph R. Bronson Mgmt For For
1.5 Elect Director Trung T. Doan Mgmt For For
1.6 Elect Director Barry Z. Posner Mgmt For For
1.7 Elect Director Thomas Rohrs Mgmt For For
1.8 Elect Director Elwood Spedden Mgmt For For
2 Amend Non-Employee Director Omnibus
Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
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Advanced EYE 00763M108 5/25/2006 1.1 Elect Director William J. Link, Ph.D. Mgmt For For
Medical Optics, 1.2 Elect Director Michael A. Mussallem Mgmt For For
Inc. 1.3 Elect Director Deborah J. Neff Mgmt For For
2 Ratify Auditors Mgmt For For
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Agilent A 00846U101 3/1/2006 1.1 Elect Director William P. Sullivan Mgmt For For
Technologies 1.2 Elect Director Robert J. Herbold Mgmt For For
Inc. 1.3 Elect Director Koh Boon Hwee Mgmt For For
2 Ratify Auditors Mgmt For For
3 Approve Executive Incentive Bonus Plan Mgmt For For
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Amgen, Inc. AMGN 31162100 5/10/2006 1.1 Elect Director Frederick W. Gluck Mgmt For For
1.2 Elect Director J. Paul Reason Mgmt For For
1.3 Elect Director Donald B. Rice Mgmt For For
1.4 Elect Director Leonard D. Schaeffer Mgmt For For
2 Ratify Auditors Mgmt For For
3 Stock Retention ShrHoldr Against For
4 Link Executive Compensation to Social
Issues ShrHoldr Against Against
5 Submit Shareholder Rights Plan
(Poison Pill) to Shareholder Vote ShrHoldr Against For
6 Develop an Animal Welfare Policy ShrHoldr Against Against
7 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
8 Report on Political Contributions ShrHoldr For For
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-1-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Amylin AMLN 32346108 5/17/2006 1.1 Elect Director Steven R. Altman Mgmt For For
Pharmaceuticals, 1.2 Elect Director Vaughn D. Bryson Mgmt For For
Inc. 1.3 Elect Director Joseph C. Cook, Jr. Mgmt For For
1.4 Elect Director Karin Eastham Mgmt For For
1.5 Elect Director James R. Gavin III Mgmt For For
1.6 Elect Director Ginger L. Graham Mgmt For For
1.7 Elect Director Howard E. Greene, Jr. Mgmt For For
1.8 Elect Director Jay S. Skyler Mgmt For For
1.9 Elect Director Joseph P. Sullivan Mgmt For For
1.10 Elect Director Thomas R. Testman Mgmt For For
1.11 Elect Director James N. Wilson Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
3 Amend Qualified Employee Stock
Purchase Plan Mgmt For For
4 Ratify Auditors Mgmt For For
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Analog ADI 32654105 3/14/2006 1.1 Elect Director James A. Champy Mgmt For Withhold
Devices, Inc. 1.2 Elect Director Kenton J. Sicchitano Mgmt For For
1.3 Elect Director Lester C. Thurow Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
4 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
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Ansys, Inc. ANSS 03662Q105 6/15/2006 1.1 Elect Director Peter J. Smith Mgmt For For
1.2 Elect Director Bradford C. Morley Mgmt For For
1.3 Elect Director Patrick J. Zilvitis Mgmt For For
2 Increase Authorized Common Stock Mgmt For For
3 Amend Omnibus Stock Plan Mgmt For For
4 Ratify Auditors Mgmt For For
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Apple AAPL 37833100 4/27/2006 1.1 Elect Director Fred D. Anderson Mgmt For For
Computer, 1.2 Elect Director William V. Campbell Mgmt For For
Inc. 1.3 Elect Director Millard S. Drexler Mgmt For For
1.4 Elect Director Albert A. Gore, Jr. Mgmt For For
1.5 Elect Director Steven P. Jobs Mgmt For For
1.6 Elect Director Arthur D. Levinson, Ph.D. Mgmt For For
1.7 Elect Director Jerome B. York Mgmt For For
2 Ratify Auditors Mgmt For For
3 Report on Computer Recycling Policy ShrHoldr Against Against
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-2-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Autodesk, Inc. ADSK 52769106 11/10/2005 1 Approve Stock Option Plan Mgmt For For
2 Amend Non-Employee Director Omnibus
Stock Plan Mgmt For For
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Autodesk, Inc. ADSK 52769106 6/8/2006 1.1 Elect Director Carol A. Bartz Mgmt For For
1.2 Elect Director Carl Bass Mgmt For For
1.3 Elect Director Mark A. Bertelsen Mgmt For For
1.4 Elect Director Crawford W. Beveridge Mgmt For For
1.5 Elect Director J. Hallam Dawson Mgmt For For
1.6 Elect Director Michael J. Fister Mgmt For For
1.7 Elect Director Per-Kristian Halvorsen Mgmt For For
1.8 Elect Director Stevn L. Scheid Mgmt For For
1.9 Elect Director Mary Alice Taylor Mgmt For For
1.10 Elect Director Larry W. Wangberg Mgmt For For
2 Ratify Auditors Mgmt For For
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Broadcom Corp. BRCM 111320107 4/27/2006 1.1 Elect Director George L. Farinsky Mgmt For For
1.2 Elect Director Maureen E. Grzelakowski Mgmt For For
1.3 Elect Director Nancy H. Handel Mgmt For For
1.4 Elect Director John Major Mgmt For For
1.5 Elect Director Scott A. McGregor Mgmt For For
1.6 Elect Director Alan E. Ross Mgmt For For
1.7 Elect Director Henry Samueli Mgmt For For
1.8 Elect Director Robert E. Switz Mgmt For For
1.9 Elect Director Werner F. Wolfen Mgmt For For
2 Amend Articles/Bylaws/Charter-Non-Routine Mgmt For For
3 Establish Range For Board Size Mgmt For For
4 Amend Non-Employee Director Omnibus
Stock Plan Mgmt For Against
5 Ratify Auditors Mgmt For For
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Business 12328X107 5/30/2006 1 APPROVAL OF THE COMPANY'S STATUTORY
Objects S.A. FINANCIAL STATEMENTS Mgmt For For
2 APPROVAL OF THE COMPANY'S
CONSOLIDATED FINANCIAL STATEMENTS Mgmt For For
-3-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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3 ALLOCATION OF THE COMPANY'S EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 2005 Mgmt For For
4 RENEWAL OF THE TERM OF OFFICE OF MR.
BERNARD LIAUTAUD Mgmt For For
5 RENEWAL OF THE TERM OF OFFICE OF MR.
JEAN-FRANCOIS HEITZ Mgmt For For
6 RENEWAL OF THE TERM OF OFFICE OF MR.
DAVID PETERSCHMIDT Mgmt For For
7 RATIFICATION OF MR. JOHN SCHWARTZ Mgmt For For
8 RENEWAL OF THE TERM OF OFFICE OF MR.
JOHN SCHWARZ Mgmt For For
9 RATIFICATION OF REGULATED AGREEMENTS Mgmt For Against
10 APPROVAL OF REGULATED AGREEMENTS Mgmt For Against
11 Ratify Auditors Mgmt For For
12 AUTHORIZATIONGRANTED TO THE BOARD OF
DIRECTORS TO REPURCHASE ORDINARY
SHARES OF THE COMPANY Mgmt For For
13 TO REDUCE THE COMPANY'S SHARE CAPITAL
BY CANCELLATION OF TREASURY SHARES Mgmt For For
14 TO ISSUE WARRANTS TO SUBSCRIBE UP TO
A MAXIMUM OF 45,000 ORDINARY SHARES
RESERVED FOR MR. JEAN-FRANCOIS HEITZ Mgmt For Against
15 TO ISSUE WARRANTS TO SUBSCRIBE UP TO
A MAXIMUM OF 45,000 ORDINARY SHARES
RESERVED FOR MR. DAVID PETERSCHMIDT Mgmt For Against
16 TO INCREASE THE COMPANY'S SHARE
CAPITAL THROUGH THE ISSUANCE OF
ORDINARY SHARES Mgmt For For
-4-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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17 TO INCREASE THE COMPANY'S SHARE
CAPITAL Mgmt For For
18 TO GRANT OPTIONS TO SUBSCRIBE OR TO
PURCHASE ORDINARY SHARES OF THE
COMPANY Mgmt For Against
19 TO INCREASE THE COMPANY'S SHARE
CAPITAL Mgmt For Against
20 AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS TO ALLOCATE, FREE OF
CHARGE, EXISTING ORDINARY SHARES Mgmt For Against
21 TO INCREASE THE COMPANY'S SHARES
CAPITAL, WITH SHAREHOLDER
PREFERENTIAL SUBSCRIPTION RIGHTS Mgmt For For
22 TO INCREASE THE COMPANY'S SHARES
CAPITAL, WITHOUT SHAREHOLDER
PREFERENTIAL SUBSCRIPTION RIGHTS Mgmt For Against
23 AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS TO INCREASE THE NUMBER OF
ORDINARY SHARES Mgmt For Against
24 DELEGATION OF AUTHORITY GRANTED TO
THE BOARD OF DIRECTORS TO INCREASE
THE COMPANY'S SHARE CAPITAL Mgmt For For
25 DELEGATION OF POWERS GRANTED TO THE
BOARD OF DIRECTORS TO INCREASE THE
COMPANY'S SHARE CAPITAL Mgmt For For
26 APPROVAL OF THE AMENDMENTS OF THE
COMPANY'S ARTICLES OF ASSOCIATION Mgmt For For
27 DELEGATION OF AUTHORITY GRANTED TO
THE BOARD OF DIRECTORS TO PROCEED
WITH THE ISSUANCE OF WARRANTS FREE OF
CHARGE Mgmt For Against
28 AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS IN THE EVENT OF A PUBLIC
TENDER OFFER EXCHANGE OFFER FOR THE
COMPANY Mgmt For Against
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-5-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Celgene Corp. CELG 151020104 2/16/2006 1 Increase Authorized Common Stock Mgmt For For
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Celgene Corp. CELG 151020104 6/14/2006 1.1 Elect Director John W. Jackson Mgmt For For
1.2 Elect Director Sol J. Barer, Ph.D. Mgmt For For
1.3 Elect Director Robert J. Hugin Mgmt For For
1.4 Elect Director Jack L. Bowman Mgmt For For
1.5 Elect Director Michael D. Casey Mgmt For For
1.6 Elect Director Rodman L. Drake Mgmt For For
1.7 Elect Director A. Hull Hayes, Jr., Md Mgmt For For
1.8 Elect Director Gilla Kaplan, Ph.D. Mgmt For For
1.9 Elect Director Richard C.E. Morgan Mgmt For For
1.10 Elect Director Walter L. Robb, Ph.D. Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
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Check Point CHKP M22465104 9/27/2005 1 ELECTION OF DIRECTORS (OTHER THAN
Software OUTSIDE DIRECTORS): GIL SHWED, MARIUS
Technologies NACHT, JERRY UNGERMAN, DAVID RUBNER,
Inc TAL SHAVIT. Mgmt For For
2 TO RATIFY THE APPOINTMENT AND
COMPENSATION OF CHECK POINT'S
INDEPENDENT PUBLIC ACCOUNTANTS. Mgmt For For
3 TO RATIFY AND APPROVE CHECK POINT'S
NEW EQUITY INCENTIVE PLANS. Mgmt For Against
4 TO RATIFY AND APPROVE AN EXTENSION OF
CHECK POINT'S 1996 EMPLOYEE STOCK
PURCHASE PLAN. Mgmt For For
5 TO AMEND CHECK POINT'S ARTICLES OF
ASSOCIATION REGARDING INSURANCE,
INDEMNIFICATION AND EXCULPATION. Mgmt For For
6 TO APPROVE CORRESPONDING AMENDMENTS
TO THE INDEMNIFICATION AGREEMENTS
WITH EACH OF CHECK POINT'S DIRECTORS. Mgmt For For
7 TO AMEND CHECK POINT'S ARTICLES OF
ASSOCIATION REGARDING DISTRIBUTION OF
ANNUAL FINANCIAL STATEMENTS. Mgmt For For
-6-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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8 TO APPROVE COMPENSATION TO CERTAIN
EXECUTIVE OFFICERS WHO ARE ALSO BOARD
MEMBERS. Mgmt For Against
9 TO APPROVE CASH COMPENSATION OF CHECK
POINT'S DIRECTORS WHO ARE NOT
EMPLOYEES. Mgmt For For
10 I HAVE A PERSONAL INTEREST IN ITEM 5
PLEASE MARK FOR IF YOU HAVE A
PERSONAL INTEREST Mgmt None Against
11 I HAVE A PERSONAL INTEREST IN ITEM 6
PLEASE MARK FOR IF YOU HAVE A
PERSONAL INTEREST Mgmt None Against
12 I HAVE A PERSONAL INTEREST IN ITEM 8
PLEASE MARK FOR IF YOU HAVE A
PERSONAL INTEREST Mgmt None Against
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Cisco Systems, CSCO 17275R102 11/15/2005 1.1 Elect Director Carol A. Bartz Mgmt For For
Inc. 1.2 Elect Director M. Michele Burns Mgmt For For
1.3 Elect Director Larry R. Carter Mgmt For For
1.4 Elect Director John T. Chambers Mgmt For For
1.5 Elect Director Dr. John L. Hennessy Mgmt For For
1.6 Elect Director Richard M. Kovacevich Mgmt For For
1.7 Elect Director Roderick C. McGeary Mgmt For For
1.8 Elect Director James C. Morgan Mgmt For For
1.9 Elect Director John P. Morgridge Mgmt For For
1.10 Elect Director Steven M. West Mgmt For For
1.11 Elect Director Jerry Yang Mgmt For For
2 Approve Stock Option Plan Mgmt For For
3 Ratify Auditors Mgmt For For
4 Review/Limit Executive Compensation ShrHoldr Against For
5 Report on Pay Disparity ShrHoldr Against Against
6 Report on Human Rights Policy ShrHoldr Against Against
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CV CVTX 126667104 6/6/2006 1.1 Elect Director Louis G. Lange Mgmt For For
Therapeutics 1.2 Elect Director Peter Barton Hutt Mgmt For For
Inc. 1.3 Elect Director Thomas E. Shenk Mgmt For For
2 Amend Qualified Employee Stock
Purchase Plan Mgmt For For
3 Amend Articles/Bylaws/Charter General
Matters Mgmt For For
4 Ratify Auditors Mgmt For For
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-7-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Dell Inc. DELL 24702R101 7/15/2005 1.1 Elect Director Donald J. Carty Mgmt For For
1.2 Elect Director Michael S. Dell Mgmt For For
1.3 Elect Director William H. Gray, III Mgmt For For
1.4 Elect Director Judy C. Lewent Mgmt For For
1.5 Elect Director Thomas W. Luce, III Mgmt For For
1.6 Elect Director Klaus S. Luft Mgmt For For
1.7 Elect Director Alex J. Mandl Mgmt For For
1.8 Elect Director Michael A. Miles Mgmt For For
1.9 Elect Director Samuel A. Nunn, Jr. Mgmt For For
1.10 Elect Director Kevin B. Rollins Mgmt For For
2 Ratify Auditors Mgmt For For
3 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
4 Expense Stock Options ShrHoldr Against For
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eBay Inc. EBAY 278642103 6/13/2006 1.1 Elect Director William C. Ford, Jr. Mgmt For For
1.2 Elect Director Dawn G. Lepore Mgmt For For
1.3 Elect Director Pierre M. Omidyar Mgmt For For
1.4 Elect Director Richard T. Sclosberg, III Mgmt For For
2 Amend Stock Option Plan Mgmt For For
3 Ratify Auditors Mgmt For For
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Elan 284131208 5/25/2006 1 RECEIVE THE FINANCIAL STATEMENTS
Corporation Plc TOGETHER WITH THE REPORTS OF THE
DIRECTORS AND AUDITORS THEREON. Mgmt For For
2.1 Elect Director Mr. Laurence Crowley Mgmt For Withhold
2.2 Elect Director Mr. William Daniel Mgmt For For
2.3 Elect Director Mr. Kelly Martin Mgmt For For
2.4 Elect Director Dr. Goran Ando Mgmt For For
2.5 Elect Director Mr. Shane Cooke Mgmt For For
2.6 Elect Director Dr. Lars Ekman Mgmt For For
2.7 Elect Director Mr. Gary Kennedy Mgmt For For
2.8 Elect Director Ms. Nancy Lurker Mgmt For For
3 AUTHORISE THE DIRECTORS TO FIX THE
REMUNERATION OF THE AUDITORS. Mgmt For For
4 APPROVE THE ELAN CORPORATION, PLC
2006 LONG TERM INCENTIVE PLAN. Mgmt For Against
-8-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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5 APPROVE THE AMENDMENT TO THE EMPLOYEE
EQUITY PURCHASE PLAN. Mgmt For For
6 AUTHORISE THE DIRECTORS TO ISSUE
SECURITIES. Mgmt For For
7 TO AUTHORISE THE DISAPPLICATION OF
PRE-EMPTION RIGHTS ON THE ALLOTMENT
OF UP TO 40 MILLION SHARES FOR CASH. Mgmt For For
8 TO REPLACE ARTICLES 58 AND 59 OF THE
ARTICLES OF ASSOCIATION. Mgmt For For
9 TO REPLACE ARTICLE 62 OF THE ARTICLES
OF ASSOCIATION. Mgmt For For
10 TO AUTHORISE THE COMPANY TO MAKE
MARKET PURCHASES OF OWN SHARES. Mgmt For For
11 TO SET THE RE-ISSUE PRICE RANGE FOR
TREASURY SHARES. Mgmt For For
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EMC Corp. EMC 268648102 5/4/2006 1.1 Elect Director Gail Deegan Mgmt For For
1.2 Elect Director Olli-Pekka Kallasvuo Mgmt For For
1.3 Elect Director Windle B. Priem Mgmt For For
1.4 Elect Director Alfred M. Zeien Mgmt For For
2 Ratify Auditors Mgmt For For
3 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
4 Performance-Based and/or Time-Based
Equity Awards ShrHoldr Against For
5 Declassify the Board of Directors ShrHoldr Against For
6 Limit Composition of Committee(s) to
Independent Directors ShrHoldr Against Against
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Energy ENER 292659109 11/15/2005 1.1 Elect Director Robert I. Frey Mgmt For For
Conversion 1.2 Elect Director William J. Ketelhut Mgmt For For
Devices, Inc. 1.3 Elect Director Florence I. Metz Mgmt For For
1.4 Elect Director Iris M. Ovshinsky Mgmt For For
1.5 Elect Director Stanford R. Ovshinsky Mgmt For For
1.6 Elect Director Stephen Rabinowitz Mgmt For For
1.7 Elect Director Robert C. Stempel Mgmt For For
2 Ratify Auditors Mgmt For For
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-9-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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EV3 INC EVVV 26928A200 5/9/2006 1.1 Elect Director J.M. Corbett Mgmt For Withhold
1.2 Elect Director T.E. Timbie Mgmt For Withhold
2 Amend Omnibus Stock Plan Mgmt For For
3 Approve Qualified Employee Stock
Purchase Plan Mgmt For For
4 Ratify Auditors Mgmt For For
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Genentech, Inc. DNA 368710406 4/20/2006 1.1 Elect Director Herbert W. Boyer Mgmt For Withhold
1.2 Elect Director William M. Burns Mgmt For Withhold
1.3 Elect Director Erich Hunziker Mgmt For Withhold
1.4 Elect Director Jonathan K.C. Knowles Mgmt For Withhold
1.5 Elect Director Arthur D. Levinson Mgmt For Withhold
1.6 Elect Director Debra L. Reed Mgmt For For
1.7 Elect Director Charles A. Sanders Mgmt For For
2 Amend Qualified Employee Stock
Purchase Plan Mgmt For For
3 Ratify Auditors Mgmt For For
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Gen-Probe, Inc. GPRO 36866T103 5/17/2006 1.1 Elect Director John W. Brown Mgmt For For
1.2 Elect Director Henry L. Nordhoff Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
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Genzyme Corp. GENZ 372917104 5/25/2006 1.1 Elect Director Victor J. Dzau, M.D. Mgmt For For
1.2 Elect Director Connie Mack, III Mgmt For For
1.3 Elect Director Henri A. Termeer Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
3 Amend Non-Employee Director Stock
Option Plan Mgmt For For
4 Declassify the Board of Directors Mgmt For For
5 Ratify Auditors Mgmt For For
6 Submit Severance Agreement (Change in
Control) to shareholder Vote ShrHoldr Against For
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Gilead GILD 375558103 5/10/2006 1.1 Elect Director Paul Berg Mgmt For For
Sciences, 1.2 Elect Director John F. Cogan Mgmt For For
Inc. 1.3 Elect Director Etienne F. Davignon Mgmt For For
1.4 Elect Director James M. Denny Mgmt For For
1.5 Elect Director John W. Madigan Mgmt For For
1.6 Elect Director John C. Martin Mgmt For For
1.7 Elect Director Gordon E. Moore Mgmt For For
1.8 Elect Director Nicholas G. Moore Mgmt For For
1.9 Elect Director Gayle E. Wilson Mgmt For For
2 Ratify Auditors Mgmt For For
3 Amend Omnibus Stock Plan Mgmt For For
4 Approve Executive Incentive Bonus Plan Mgmt For For
5 Increase Authorized Common Stock Mgmt For For
6 Report on Impact of HIV/AIDS, TB, and
Malaria Pandemics ShrHoldr Against For
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-10-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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GIVEN M52020100 8/30/2005 1.1 Elect Director Mr. Doron Birger Mgmt For For
IMAGING 1.2 Elect Director Mr. J. Silverstein Mgmt For For
1.3 Elect Director Mr. Chen Barir Mgmt For For
1.4 Elect Director Mr. Eyal Lifschitz Mgmt For For
1.5 Elect Director Prof. Anat Leowenstein Mgmt For For
1.6 Elect Director Mr. Gavriel D. Meron Mgmt For For
2 TO APPROVE THE COMPENSATION OF THE
PRESIDENT AND CHIEF EXECUTIVE OFFICER
OF THE COMPANY. Mgmt For Against
3 TO APPROVE CHANGES TO THE
COMPENSATION OF THE DIRECTORS OF THE
COMPANY. Mgmt For Against
4 Ratify Auditors Mgmt For For
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Google Inc GOOG 38259P508 5/11/2006 1.1 Elect Director Eric Schmidt Mgmt For For
1.2 Elect Director Sergey Brin Mgmt For For
1.3 Elect Director Larry Page Mgmt For For
1.4 Elect Director L. John Doerr Mgmt For For
1.5 Elect Director John L. Hennessy Mgmt For For
1.6 Elect Director Arthur D. Levinson Mgmt For For
1.7 Elect Director Ann Mather Mgmt For For
1.8 Elect Director Michael Moritz Mgmt For For
1.9 Elect Director Paul S. Otellini Mgmt For For
1.10 Elect Director K. Ram Shriram Mgmt For For
1.11 Elect Director Shirley M. Tilghman Mgmt For For
2 Ratify Auditors Mgmt For For
3 Amend Omnibus Stock Plan Mgmt For Against
4 Company-Specific-Recapitalization Plan ShrHoldr Against For
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Harris Corp. HRS 413875105 10/28/2005 1.1 Elect Director Lewis Hay, III Mgmt For For
1.2 Elect Director Karen Katen Mgmt For For
1.3 Elect Director Stephen P. Kaufman Mgmt For For
1.4 Elect Director Hansel E. Tookes, II Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
3 Approve/Amend Executive Incentive
Bonus Plan Mgmt For For
4 Ratify Auditors Mgmt For For
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-11-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Hewlett-Packard HPQ 428236103 3/15/2006 1.1 Elect Director P.C. Dunn Mgmt For For
Co. 1.2 Elect Director L.T. Babbio, Jr. Mgmt For For
1.3 Elect Director S.M. Baldauf Mgmt For For
1.4 Elect Director R.A. Hackborn Mgmt For For
1.5 Elect Director J.H. Hammergren Mgmt For For
1.6 Elect Director M.V. Hurd Mgmt For For
1.7 Elect Director G.A. Keyworth Ii Mgmt For For
1.8 Elect Director T.J. Perkins Mgmt For For
1.9 Elect Director R.L. Ryan Mgmt For For
1.10 Elect Director L.S. Salhany Mgmt For For
1.11 Elect Director R.P. Wayman Mgmt For For
2 Ratify Auditors Mgmt For For
3 Approve Executive Incentive Bonus Plan Mgmt For For
4 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
5 Claw-Back of Payments under
Restatement ShrHoldr Against Against
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Intel Corp. INTC 458140100 5/17/2006 1 Elect Director Craig R. Barrett Mgmt For For
2 Elect Director Charlene Barshefsky Mgmt For For
3 Elect Director E. John P. Browne Mgmt For For
4 Elect Director D. James Guzy Mgmt For For
5 Elect Director Reed E. Hundt Mgmt For For
6 Elect Director Paul S. Otellini Mgmt For For
7 Elect Director James D. Plummer Mgmt For For
8 Elect Director David S. Pottruck Mgmt For For
9 Elect Director Jane E. Shaw Mgmt For For
10 Elect Director John L. Thornton Mgmt For For
11 Elect Director David B. Yoffie Mgmt For For
12 Rescind Fair Price Provision Mgmt For For
13 Amend Articles/Bylaws/Repeal
Supermajority Vote Mgmt For For
14 Ratify Auditors Mgmt For For
15 Approve Omnibus Stock Plan Mgmt For For
16 Approve Qualified Employee Stock
Purchase Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
InterVoice Inc INTV 461142101 7/13/2005 1.1 Elect Director Saj-nicole A. Joni, Ph.D. Mgmt For For
1.2 Elect Director Gerald F. Montry Mgmt For For
1.3 Elect Director Joseph J. Pietropaolo Mgmt For For
1.4 Elect Director George C. Platt Mgmt For For
1.5 Elect Director Donald B. Reed Mgmt For For
1.6 Elect Director Jack P. Reily Mgmt For For
1.7 Elect Director Robert E. Ritchey Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
3 Other Business Mgmt For Against
- ------------------------------------------------------------------------------------------------------------------------------------
-12-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
J2 Global JCOM 46626E205 5/3/2006 1.1 Elect Director Douglas Y. Bech Mgmt For For
Communications, 1.2 Elect Director Robert J. Cresci Mgmt For For
Inc. 1.3 Elect Director John F. Reiley Mgmt For Withhold
1.4 Elect Director Richard S. Ressler Mgmt For Withhold
1.5 Elect Director Michael P. Schulhof Mgmt For For
2 Increase Authorized Common Stock Mgmt For For
3 Amend Stock Option Plan Mgmt For For
4 Other Business Mgmt For Against
- ------------------------------------------------------------------------------------------------------------------------------------
Juniper JNPR 48203R104 5/18/2006 1.1 Elect Director Scott Kriens Mgmt For For
Networks, Inc. 1.2 Elect Director Stratton Sclavos Mgmt For Withhold
1.3 Elect Director William R. Stensrud Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Kyphon Inc KYPH 501577100 6/15/2006 1.1 Elect Director Richard W. Mott Mgmt For For
1.2 Elect Director Karen D. Talmadge, Ph.D. Mgmt For For
2 Approve Qualified Employee Stock
Purchase Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Lam Research LRCX 512807108 11/3/2005 1.1 Elect Director James W. Bagley Mgmt For Withhold
Corp. 1.2 Elect Director David G. Arscott Mgmt For Withhold
1.3 Elect Director Robert M. Berdahl Mgmt For Withhold
1.4 Elect Director Richard J. Elkus, Jr. Mgmt For Withhold
1.5 Elect Director Jack R. Harris Mgmt For Withhold
1.6 Elect Director Grant M. Inman Mgmt For Withhold
1.7 Elect Director Stephen G. Newberry Mgmt For For
1.8 Elect Director Seiichi Watanabe Mgmt For For
2 Amend Executive Incentive Bonus Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
McAfee, Inc. MFE 579064106 5/25/2006 1.1 Elect Director Leslie Denend Mgmt For For
1.2 Elect Director George Samenuk Mgmt For For
2 Amend Non-Employee Director Stock
Option Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-13-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
Medtronic, Inc. MDT 585055106 8/25/2005 1.1 Elect Director Shirley Ann Jackson, Ph.D. Mgmt For For
1.2 Elect Director Denise M. O'Leary Mgmt For For
1.3 Elect Director Jean-Pierre Rosso Mgmt For For
1.4 Elect Director Jack W. Schuler Mgmt For Withhold
2 Ratify Auditors Mgmt For For
3 Approve Qualified Employee Stock
Purchase Plan Mgmt For For
4 Amend Non-Employee Director Stock
Option Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Microsemi MSCC 595137100 2/22/2006 1.1 Elect Director Dennis R. Leibel Mgmt For For
Corp. 1.2 Elect Director James J. Peterson Mgmt For For
1.3 Elect Director Thomas R. Anderson Mgmt For For
1.4 Elect Director William E. Bendush Mgmt For For
1.5 Elect Director William L. Healey Mgmt For For
1.6 Elect Director Paul F. Folino Mgmt For For
1.7 Elect Director Matthew E. Massengill Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Microsoft Corp. MSFT 594918104 11/9/2005 1.1 Elect Director William H. Gates, III Mgmt For For
1.2 Elect Director Steven A. Ballmer Mgmt For For
1.3 Elect Director James I. Cash Jr. Mgmt For For
1.4 Elect Director Dina Dublon Mgmt For For
1.5 Elect Director Raymond V. Gilmartin Mgmt For For
1.6 Elect Director A. Mclaughlin Korologos Mgmt For For
1.7 Elect Director David F. Marquardt Mgmt For For
1.8 Elect Director Charles H. Noski Mgmt For For
1.9 Elect Director Helmut Panke Mgmt For For
1.10 Elect Director Jon A. Shirley Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Motorola, Inc. MOT 620076109 5/1/2006 1.1 Elect Director E. Zander Mgmt For For
1.2 Elect Director H.L. Fuller Mgmt For Against
1.3 Elect Director J. Lewent Mgmt For For
1.4 Elect Director T. Meredith Mgmt For For
1.5 Elect Director N. Negroponte Mgmt For For
1.6 Elect Director I. Nooyi Mgmt For For
1.7 Elect Director S. Scott, III Mgmt For For
1.8 Elect Director R. Sommer Mgmt For For
1.9 Elect Director J. Stengel Mgmt For For
1.10 Elect Director D. Warner, III Mgmt For For
1.11 Elect Director J. White Mgmt For For
1.12 Elect Director M. White Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
3 Submit Shareholder Rights Plan
(Poison Pill) to Shareholder Vote ShrHoldr Against For
- ------------------------------------------------------------------------------------------------------------------------------------
-14-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
NAVTEQ NVT 63936L100 5/9/2006 1.1 Elect Director Richard J.A. De Lange Mgmt For For
Corporation 1.2 Elect Director Christopher Galvin Mgmt For For
1.3 Elect Director Andrew J. Green Mgmt For For
1.4 Elect Director Judson C. Green Mgmt For For
1.5 Elect Director William L. Kimsey Mgmt For For
1.6 Elect Director Scott D. Miller Mgmt For For
1.7 Elect Director Dirk-Jan Van Ommeren Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Network NTAP 64120L104 8/31/2005 1.1 Elect Director Daniel J. Warmenhoven Mgmt For For
Appliance, 1.2 Elect Director Donald T. Valentine Mgmt For For
Inc. 1.3 Elect Director Jeffry R. Allen Mgmt For For
1.4 Elect Director Carol A. Bartz Mgmt For For
1.5 Elect Director Alan L. Earhart Mgmt For For
1.6 Elect Director Mark Leslie Mgmt For For
1.7 Elect Director Nicholas C. Moore Mgmt For For
1.8 Elect Director Sachio Semmoto Mgmt For For
1.9 Elect Director George T. Sheheen Mgmt For For
1.10 Elect Director Robert T. Wall Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For Against
3 Amend Qualified Employee Stock
Purchase Plan Mgmt For For
4 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
NuVasive, Inc. NUVA 670704105 5/24/2006 1.1 Elect Director P.C. Farrell, Ph.D., Am Mgmt For For
1.2 Elect Director Lesley H. Howe Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
NuVasive, Inc. NUVA 670704105 7/27/2005 1.1 Elect Director Arda M. Minocherhomjee Mgmt For For
1.2 Elect Director Robert J. Hunt Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Oracle Corp. ORCL 68389X105 10/10/2005 1.1 Elect Director Jeffrey O. Henley Mgmt For For
1.2 Elect Director Lawrence J. Ellison Mgmt For For
1.3 Elect Director Donald L. Lucas Mgmt For For
1.4 Elect Director Michael J. Boskin Mgmt For For
1.5 Elect Director Jack F. Kemp Mgmt For For
1.6 Elect Director Jeffrey S. Berg Mgmt For For
1.7 Elect Director Safra A. Catz Mgmt For For
1.8 Elect Director Hector Garcia-Molina Mgmt For For
1.9 Elect Director Joseph A. Grundfest Mgmt For For
1.10 Elect Director H. Raymond Bingham Mgmt For Withhold
1.11 Elect Director Charles E. Phillips, Jr. Mgmt For For
2 Approve Executive Incentive Bonus Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-15-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
QUALCOMM QCOM 747525103 3/7/2006 1.1 Elect Director Richard C. Atkinson Mgmt For Withhold
Inc. 1.2 Elect Director Diana Lady Dougan Mgmt For Withhold
1.3 Elect Director Peter M. Sacerdote Mgmt For Withhold
1.4 Elect Director Marc I. Stern Mgmt For Withhold
2 Declassify the Board and Eliminate
Cumulative Voting Mgmt For For
3 Amend Omnibus Stock Plan Mgmt For For
4 Ratify Auditors Mgmt For For
5 Adjourn Meeting Mgmt For Against
- ------------------------------------------------------------------------------------------------------------------------------------
Radyne Corp RADN 750611402 6/7/2006 1.1 Elect Director Yip Loi Lee Mgmt For Withhold
1.2 Elect Director Dennis W. Elliott Mgmt For For
1.3 Elect Director Robert C. Fitting Mgmt For For
1.4 Elect Director Dr. C.J. Waylan Mgmt For For
1.5 Elect Director Dr. James Spilker, Jr. Mgmt For For
2 Amend Omnibus Stock Plan Mgmt For Against
- ------------------------------------------------------------------------------------------------------------------------------------
Research In RIM 760975102 7/18/2005 1 Elect Michael Lazardis, James
Motion Ltd Balsillie, Douglas Fregin, Kendall
Cork, James Estill, John Richardson
and Douglas Wright as Directors Mgmt For For
2 Approve Ernst & Young LLP as Auditors
and Authorize Board to Fix
Remuneration of Auditors Mgmt For For
3 Approve Restricted Share Unit Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Rimage RIMG 766721104 5/16/2006 1.1 Elect Director Bernard P. Aldrich Mgmt For For
Corporation 1.2 Elect Director Lawrence M. Benveniste Mgmt For For
1.3 Elect Director Philip D. Hotchkiss Mgmt For For
1.4 Elect Director Thomas F. Madison Mgmt For For
1.5 Elect Director Steven M. Quist Mgmt For For
1.6 Elect Director James L. Reissner Mgmt For For
1.7 Elect Director David J. Suden Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-16-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
SAP AG 803054204 5/9/2006 1 RESOLUTION ON THE APPROPRIATION OF
THE RETAINED EARNINGS OF THE FISCAL
YEAR 2005 Mgmt For For
2 RESOLUTION ON THE FORMAL APPROVAL OF
THE ACTS OF THE EXECUTIVE BOARD IN
THE FISCAL YEAR 2005 Mgmt For For
3 RESOLUTION ON THE FORMAL APPROVAL OF
THE ACTS OF THE SUPERVISORY BOARD IN
THE FISCAL YEAR 2005 Mgmt For For
4 Ratify Auditors Mgmt For For
5 RESOLUTION ON A CAPITAL INCREASE FROM
COMPANY FUNDS BY THREE TIMES THE
AMOUNT OF THE EXISTING CAPITAL STOCK
BY CONVERTING PARTIAL AMOUNTS OF THE
CAPITAL RESERVES Mgmt For For
6 RESOLUTION ON THE IMPLEMENTATION OF
THE CAPITAL INCREASE FROM COMPANY
FUNDS BY THREE TIMES THE AMOUNT OF
THE EXISTING CAPITAL STOCK BY
CONVERTING PARTIAL AMOUNTS OF THE
CAPITAL RESERVES Mgmt For For
7 RESOLUTION ON A CHANGE IN THE
REMUNERATION OF THE MEMBERS OF THE
SUPERVISORY BOARD AND ON A
CORRESPONDING AMENDMENT OF THE
ARTICLES OF ASSOCIATION Mgmt For For
8 RESOLUTION ON THE CREATION OF A NEW
AUTHORIZED CAPITAL LA AGAINST
CONTRIBUTIONS IN CASH WITH THE OPTION
TO EXCLUDE THE SHAREHOLDERS'
SUBSCRIPTION RIGHTS Mgmt For For
9 RESOLUTION ON THE CREATION OF A NEW
AUTHORIZED CAPITAL LLA AGAINST
CONTRIBUTIONS IN CASH OR IN KIND WITH
THE OPTION TO EXCLUDE THE
SHAREHOLDERS' SUBSCRIPTION RIGHTS Mgmt For For
-17-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
10 RESOLUTION ON THE AUTHORIZATION TO
USE TREASURY SHARES WITH A PRO RATA
AMOUNT OF CAPITAL STOCK REPRESENTED
BY SUCH SHARES OF UP TO EUR 30
MILLION IN AGGREGATE Mgmt For For
11 RESOLUTION ON AN AUTHORIZATION TO
ACQUIRE ADDITIONAL TREASURY SHARES
WITH A PRO RATE AMOUNT OF CAPITAL
STOCK REPRESENTED BY SUCH SHARES OF
UP TO EUR 90 MILLION IN AGGREGATE Mgmt For For
12 RESOLUTION ON THE AUTHORIZATION TO
USE EQUITY DERIVATIVES IN CONNECTION
WITH THE ACQUISITION OF TREASURY
SHARES Mgmt For Against
13 RESOLUTION ON THE AUTHORIZATION TO
ISSUE CONVERTIBLE AND/OR
WARRANT-LINKED BONDS, ON THE
CANCELLATION OF THE EXISTING
CONTINGENT CAPITAL IV, ON THE
CREATION OF A NEW CONTINGENT CAPITAL
IV Mgmt For For
14 RESOLUTION ON AN ADDITIONAL
AUTHORIZATION TO ISSUE CONVERTIBLE
AND/OR WARRANT-LINKED BONDS, ON THE
CREATION OF A NEW CONTINGENT CAPITAL
IVA Mgmt For For
15 RESOLUTION ON THE APPROVAL OF THE
CONTROL AND PROFIT AND LOSS TRANSFER
AGREEMENT BETWEEN SAP AG AND SAP
ERSTE BETEILIGUNGS- UND
VERMOGENSVERWALTUNGS GMBH Mgmt For For
16 RESOLUTION ON THE APPROVAL OF THE
CONTROL AND PROFIT AND LOSS TRANSFER
AGREEMENT BETWEEN SAP AG AND SAP
ZWEITE BETEILIGUNGS- UND
VERMOGENSVERWALTUNGS GMBH Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Silicon Image, SIMG 82705T102 5/23/2006 1.1 Elect Director Peter Hanelt Mgmt For For
Inc. 1.2 Elect Director William George Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-18-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
Sonus SONS 835916107 10/12/2005 1.1 Elect Director Hassan M. Ahmed Mgmt For For
Networks, 1.2 Elect Director John P. Cunningham Mgmt For For
Inc. 1.3 Elect Director Paul J. Severino Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
St. Jude STJ 790849103 5/10/2006 1.1 Elect Director John W. Brown Mgmt For For
Medical, Inc. 1.2 Elect Director Daniel J. Starks Mgmt For For
2 Approve Stock Option Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Standard SMSC 853626109 8/1/2005 1.1 Elect Director Steven J. Bilodeau Mgmt For For
Microsystems 1.2 Elect Director Peter F. Dicks Mgmt For For
Corp. 2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Surmodics, Inc. SRDX 868873100 1/30/2006 1 Fix Number of Directors Mgmt For For
2.1 Elect Director Bruce J Barclay Mgmt For For
2.2 Elect Director Jose H. Bedoya Mgmt For For
2.3 Elect Director John A. Meslow Mgmt For For
3 Amend Omnibus Stock Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Symantec Corp. SYMC 871503108 9/16/2005 1.1 Elect Director Gary L. Bloom Mgmt For For
1.2 Elect Director Michael Brown Mgmt For For
1.3 Elect Director William T. Coleman Mgmt For For
1.4 Elect Director David L. Mahoney Mgmt For For
1.5 Elect Director Robert S. Miller Mgmt For Withhold
1.6 Elect Director George Reyes Mgmt For For
1.7 Elect Director David Roux Mgmt For For
1.8 Elect Director Daniel H. Schulman Mgmt For For
1.9 Elect Director John W. Thompson Mgmt For For
1.10 Elect Director V. Paul Unruh Mgmt For For
2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Vertex VRTX 92532F100 5/11/2006 1.1 Elect Director Eric K. Brandt Mgmt For For
Pharmaceuticals 1.2 Elect Director Bruce I. Sachs Mgmt For For
Inc. 1.3 Elect Director Eve E. Slater, M.D. Mgmt For For
2 Approve Omnibus Stock Plan Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-19-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT SCIENCE & TECHNOLOGY GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ------------------------------------------------------------------------------------------------------------------------------------
Witness WITS 977424100 5/18/2006 1.1 Elect Director David Gould Mgmt For For
Systems, Inc. 2 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Xilinx, Inc. XLNX 983919101 8/4/2005 1.1 Elect Director Willem P. Roelandts Mgmt For For
1.2 Elect Director John L. Doyle Mgmt For For
1.3 Elect Director Jerald G. Fishman Mgmt For For
1.4 Elect Director Philip T. Gianos Mgmt For For
1.5 Elect Director William G. Howard, Jr. Mgmt For For
1.6 Elect Director Harold E. Hughes, Jr. Mgmt For For
1.7 Elect Director J. Michael Patterson Mgmt For For
1.8 Elect Director Richard W. Sevcik Mgmt For For
1.9 Elect Director Elizabeth W.
Vanderslice Mgmt For For
2 Amend Qualified Employee Stock
Purchase Plan Mgmt For For
3 Ratify Auditors Mgmt For For
4 Require a Majority Vote for the
Election of Directors ShrHoldr Against For
- ------------------------------------------------------------------------------------------------------------------------------------
Yahoo!, Inc. YHOO 984332106 5/25/2006 1.1 Elect Director Terry S. Semel Mgmt For For
1.2 Elect Director Jerry Yang Mgmt For For
1.3 Elect Director Roy J. Bostock Mgmt For For
1.4 Elect Director Ronald W. Burkle Mgmt For For
1.5 Elect Director Eric Hippeau Mgmt For For
1.6 Elect Director Arthur H. Kern Mgmt For For
1.7 Elect Director Vyomesh Joshi Mgmt For For
1.8 Elect Director Robert A. Kotick Mgmt For For
1.9 Elect Director Edward R. Kozel Mgmt For For
1.10 Elect Director Gary L. Wilson Mgmt For For
2 Amend Non-Employee Director Omnibus
Stock Plan Mgmt For For
3 Ratify Auditors Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
Zix Corp. ZIXI 98974P100 11/21/2005 1.1 Elect Director Robert C. Hausmann Mgmt For For
1.2 Elect Director Charles A. 'Chip' Kahn Mgmt For For
1.3 Elect Director Paul E. Schlosberg Mgmt For For
2 Approve Issuance of Shares for a
Private Placement Mgmt For For
-20-
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.
(Registrant) Sit Science and Technology Growth Fund,
a series of Sit Mutual Funds, Inc.
-------------------------------------------------------------------
By (Signature and Title)* /s/ Paul E. Rasmussen, Vice President
------------------------------------------------------
Date August 30, 2006
---------------------------------------------------------------------------
* Print the name and title of each signing officer under his or her signature.