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 811-5449 - -------------------------------------------------------------------------------- MANAGED SECTORS VARIABLE ACCOUNT - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 500 Boylston Street, Boston, Massachusetts 02116 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Susan S. Newton Massachusetts Financial Services Company 500 Boylston Street Boston, Massachusetts 02116 - -------------------------------------------------------------------------------- (Name and address of agents for service) Registrant's telephone number, including area code: (617) 954-5000 - -------------------------------------------------------------------------------- Date of fiscal year end: December 31 - -------------------------------------------------------------------------------- Date of reporting period: July 1, 2005 - July 18, 2005* - -------------------------------------------------------------------------------- *The reporting period for Managed Sectors Variable Account, which terminated on July 18, 2005, is July 1, 2005 - July 18, 2005 ITEM 1. PROXY VOTING RECORD. ICA File Number: 811-05449 Reporting Period: 07/01/2005 - 06/30/2006 Managed Sectors Variable Account DELL INC. Ticker: DELL Security ID: 24702R101 Meeting Date: JUL 15, 2005 Meeting Type: Annual Record Date: MAY 20, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Donald J. Carty For For Management 1.2 Elect Director Michael S. Dell For For Management 1.3 Elect Director William H. Gray, III For For Management 1.4 Elect Director Judy C. Lewent For For Management 1.5 Elect Director Thomas W. Luce, III For For Management 1.6 Elect Director Klaus S. Luft For For Management 1.7 Elect Director Alex J. Mandl For For Management 1.8 Elect Director Michael A. Miles For For Management 1.9 Elect Director Samuel A. Nunn, Jr. For For Management 1.10 Elect Director Kevin B. Rollins For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Election Against Against Shareholder of Directors 4 Expense Stock Options Against For Shareholder MEDTRONIC, INC. Ticker: MDT Security ID: 585055106 Meeting Date: AUG 25, 2005 Meeting Type: Annual Record Date: JUL 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Shirley Ann Jackson, Ph.D. For For Management 1.2 Elect Director Denise M. O'Leary For For Management 1.3 Elect Director Jean-Pierre Rosso For For Management 1.4 Elect Director Jack W. Schuler For For Management 2 Ratify Auditors For For Management 3 Approve Qualified Employee Stock Purchase For For Management Plan 4 Amend Non-Employee Director Stock Option For For Management Plan NETWORK APPLIANCE, INC. Page 1 Ticker: NTAP Security ID: 64120L104 Meeting Date: AUG 31, 2005 Meeting Type: Annual Record Date: JUL 5, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Daniel J. Warmenhoven For For Management 1.2 Elect Director Donald T. Valentine For For Management 1.3 Elect Director Jeffry R. Allen For For Management 1.4 Elect Director Carol A. Bartz For For Management 1.5 Elect Director Alan L. Earhart For For Management 1.6 Elect Director Mark Leslie For For Management 1.7 Elect Director Nicholas C. Moore For For Management 1.8 Elect Director Sachio Semmoto For For Management 1.9 Elect Director George T. Sheheen For For Management 1.10 Elect Director Robert T. Wall For For Management 2 Amend Omnibus Stock Plan For Against Management 3 Amend Qualified Employee Stock Purchase For Against Management Plan 4 Ratify Auditors For For Management PROCTER & GAMBLE COMPANY, THE Ticker: PG Security ID: 742718109 Meeting Date: JUL 12, 2005 Meeting Type: Special Record Date: MAY 19, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management 2 Adjourn Meeting For For Management SPRINT NEXTEL CORP Ticker: S Security ID: 852061100 Meeting Date: JUL 13, 2005 Meeting Type: Annual Record Date: MAY 20, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Increase Authorized Common Stock For For Management 2 Amend Articles/Bylaws/Charter-Non-Routine For For Management 3 Change Company Name For For Management 4 Issue Shares in Connection with an For For Management Acquisition 5 Adjourn Meeting For For Management 6.1 Elect Director Gordon M. Bethune For For Management 6.2 Elect Director Dr. E. Linn Draper, Jr. For For Management 6.3 Elect Director James H. Hance, Jr. For For Management 6.4 Elect Director Deborah A. Henretta For For Management 6.5 Elect Director Irvine O. Hockaday, Jr. For For Management 6.6 Elect Director Linda Koch Lorimer For For Management 6.7 Elect Director Gerald L. Storch For For Management 6.8 Elect Director William H. Swanson For For Management 7 Ratify Auditors For For Management 8 Review Executive Compensation Against Against Shareholder Page 2 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: MANAGED SECTORS VARIABLE ACCOUNT By (Signature and Title) MARIA F. DWYER* ------------------------------------------------------ Maria F. Dwyer, Principal Executive Officer and President Date: February 3, 2006 *By (Signature and Title) /s/ Brian T. Hourihan ---------------------------------------- Brian T. Hourihan as Attorney-in-fact *Executed by Brian T. Hourihan on behalf of Maria F. Dwyer pursuant to a Power of Attorney dated January 26, 2006. (1) (1) Incorporated by reference to Massachusetts Investors Growth Stock Fund (File Nos. 2-14677 and 811-859) Post-Effective Amendment No. 79 filed with the SEC via EDGAR on January 27, 2006.