Form N-PX
Annual Report of Proxy Voting Record of
Copley Fund, Inc.
Investment Company Act File No.: 811-2815
Registrant
Copley Fund, Inc.
245 Sunrise Ave.
Palm Beach, FL 33480
Agent for Service
Fiscal Year End: February 28, 2006
Date of Reporting Period: July 1, 2006 to June 30, 2007
With
Proponent or
Meeting (Management/ Voted? Against
Name Ticker CUSIP Date ItemDescription Shareholder) (Yes/No) VoteCast Mgt Rec
AT&T T 00206R102 7/21/06 Approve Issuance/Merger Management Yes For With
Bellsouth Corporation BLS 079860102 7/21/06 Approve merger with AT&T Management Yes For With
Keyspan Corporation KSE 49337W100 8/17/06 Elect 10 Directors Management Yes For With
Adopt the agreement of
KSE merger Management Yes For With
Ratify of Deloitte &
KSE Touche LLP Management Yes For With
KSE Adopt simple majority vote Shareholder Yes Against With
Duke Energy Corporation DUK 26441C105 10/24/06 Elect 14 Directors Management Yes For With
Approval of Long term
DUK incentive Management Yes For With
Ratify of Deloitte &
DUK Touche LLP Management Yes For With
Delta Natural Gas
Company, Inc. DGAS 247748106 11/16/06 Elec 2 Directors Management Yes For With
Amend to increase common
DGAS stock Management Yes For With
Public Service
Enterprise PEG 744573106 11/21/06 Elec 4 Management Yes For With
Raitfy of Deloitte &
PEG Touche LLP Management Yes For With
Relating to Excutive
PEG Compensation Management Yes Against With
Peoples Energy Approve merger w/WPS &
Corporation PGL 711030106 12/6/06 Wedge Acq., Management Yes For With
PGL Adjourn the special meeting Management Yes For With
FPL Group, Inc. FPL 302571104 12/15/06 Elect 10 Directors Management Yes For With
Ratify of Deloitte &
FPL Touche LLP Management Yes For With
New Jersey Resources
Corp. NJR 646025106 1/24/07 Elec 5 Directors Management Yes For With
Approve the 2007 Stock
NJR Award & incentive Management Yes For With
Approve the Retention of
NJR Delotte & Touche, LLP Management Yes For With
WGL Holdings, Inc. WGL 92924F106 3/1/07 Elec 8 Directors Management Yes For With
Ratify of Deloitte &
WGL Touche LLP Management Yes For With
Approval of the Omnibus
WGL incentive compensation plan Management Yes For With
WGL Cumulative Voting Shareholder Yes Against With
WGL Independent Chairman Shareholder Yes Against With
Executive Compensation
WGL Consultants Shareholder Yes Against With
National City
Corporation NCC 635405103 4/24/07 Elec 11 Directors Management Yes For With
Ratify of Ernst & Young,
NCC LLP Management Yes For With
NCC Excutive Compensation Shareholder Yes Against With
Sunoco, Inc. SUN 8674P109 5/3/07 Elec 11 Directors Management Yes For With
Ratify of Ernst & Young,
SUN LLP Management Yes For With
Nstar NST 67019E107 5/3/07 Elec 3 Directors Management Yes For With
Approval of the 2007 Long
NST Term incentive Management Yes For With
Ratify the appt. of
NST Pricewaterhousecoopers, LLP Management Yes For With
BP P.L.C. BP 055622104 4/12/07 Elec 16 Directors Management Yes For With
Receive Directors annual
BP report Management Yes For With
Approve the Directors
BP Renumeration Management Yes For With
Re-appoint Ernst & Young
LLP & authorize the board
BP to set their renuneration Management No Against Against
Give limited authority to
make political donations &
BP incur political expenditure Management Yes For With
Authorize the use of
BP electronic communications Management Yes For With
Special Resolution: to
give limited authority for
the purchase of its own
BP shares Management No Against Against
Authorize to allot shares
BP up to a speclified amount Management Yes For With
Special Resolution: to
give authority to allot a
limited number of shares
for cash free of
BP pre-emption rights Management Yes For With
Sempra Energy SRE 816851109 4/26/07 Elec 3 Directors Management Yes Withhold Against
Ratify public accounting
SRE firm Management Yes For With
SRE Adopt simple majority vote Management Yes Against With
Director election majority
SRE vote standard proposal Management Yes Against With
Supplemental Executive
SRE retirment plan policy Management Yes Against With
Public Service
Enterprise PEG 744573106 4/17/07 Elec 4 Directors Management Yes For With
Approve amendment to
increase the authoriezed
common stock from 500
PEG million to 1 billion shares Management Yes For With
Approve adoption of the
2007 equity compensation
PEG plan Management Yes For With
Approve amendment to
eliminate classification
PEG of the boards of directors Management Yes For With
Approve an amendment to
PEG eliminate cumulative voting Management Yes For With
Approve eliminate
PEG pre-emptive rights Management Yes For With
Ratify Deloitte & Touche
PEG LLP Management Yes For With
Scana Corporation SCG 80589M102 4/26/07 Elec 3 Directors Management Yes For With
SCG Approve accounting firm Management Yes For With
Idearc Inc. IAR 451663108 4/19/07 Elec 7 Directors Management No Against Against
IAR Ratify Ernst & Young, LLP Management Yes For With
Bank of America BAC 060505104 4/25/07 Elec 17 Directors Management Yes For With
Ratify of the independent
registered public
BAC accointing firm 2007 Management Yes For With
BAC Stock Options Shareholder Yes Against With
BAC Number of Directors Shareholder Yes Against With
BAC Independent Board Chairman Shareholder Yes Against With
Progress Energy, Inc. PGN 743263105 5/9/07 Elec 12 Directors Management Yes For With
Raitfy of Deloitte &
PGN Touche LLP Management Yes For With
Approve 2007 Equity
PGN Incentive Plan Management Yes For With
Citzens Communications CZN 17453B101 5/18/07 Elec 12 Directors Management No Against Against
Adopt 2008 Citizens
CZN Incentive Plan Management Yes For With
CZN Ratify of KPMG LLP Management Yes g With
PPL Corporation PPL 69351T106 5/23/07 Elec 3 Directors Management Yes For With
Ratify Independent
PPL Accounting Firm Management Yes For With
PPL Shareowner Proposal Shareholder Yes Against With
Southern Company SO 842587107 5/23/07 Elec 10 Directors Management Yes For With
Ratify of Deloitte &
SO Touche LLP Management Yes For With
SO Environmental Report Shareholder Yes Against With
Northwest Natuarl Gas NWN 667655104 5/24/07 Elec 3 Directors Management Yes For With
Reapproval Restated Stock
NWN Option Plan Management Yes For With
Ratify
NWN Pricewaterhousecoopers Management Yes For With
Wal-Mart WMT 931142103 6/1/07 Elec 15 Directors Management Yes For With
WMT Ratify Ernst & Young, LLP Management Yes For With
Charitable contributions
WMT report Shareholder Yes Against With
Universal Health Care
Policy Shareholder Yes Against With
Pay for Superior
Performance Shareholder Yes Against With
Equity Compensation Glass
Ceiling Shareholder Yes Against With
Compensation Disparity Shareholder Yes Against With
Business Social
Responsibility Report Shareholder Yes Against With
Excutive Compensation Vote Shareholder Yes Against With
Political Contribution
Report Shareholder Yes Against With
Social and Reputation
Impact Report Shareholder Yes Against With
Cumulative Voting Shareholder Yes Against With
Qualifacfations for
Director Nominees Shareholder Yes Against With
Exxon Mobil Corporation XOM 30231G102 5/30/07 Elec 12 Directors Management Yes For With
Ratify of indepentant
XOM auditors Management Yes For With
XOM Cumulative Voting Management Yes Against With
Special Shareholder
XOM meetings Management Yes Against With
XOM Board Chairman and CEO Management Yes Against With
XOM Dividend strategy Management Yes For Against
XOM Executive Compensation Shareholder Yes Against With
XOM CEO Compensation decisions Management Yes Against With
Executive compensation
XOM report Management Yes Against With
Executive compensation
XOM limit Management Yes Against With
XOM Incentive pay recoupment Management Yes Against With
Political Contribution
XOM Report Management Yes Against With
XOM Amendment of EEO policy Management Yes Against With
Community envirnmental
XOM impact Management Yes Against With
Greenhouse gas emissions
XOM goals Management Yes Against With
XOM CO2 information at the pump Management Yes Against With
Renewable energy
XOM investment levels Management Yes Against With
DTE Energy DTE 233331107 5/3/07 Elec 5 Directors Management Yes For With
DTE Deloitte & Touche Management Yes For With
Dominion Resources, Inc. D 25746U109 4/27/07 Elec 10 Directors Management Yes For With
D Ratify Auditors for 2007 Management Yes For With
D Environmental Report Shareholder Yes Against With
D Transmission Report Shareholder Yes Against With
FPL Group, Inc. FPL 302571104 5/25/07 Elec 12 Directors Management Yes For With
Ratify Deloitte & Touche
FPL LLP Management Yes For With
Approval of 207
Non-Employee Directors
FPL stock plan Management Yes For With
Arthur J. Gallagher &
Co. AJG 363576109 5/15/07 Elec 3 Directors Management Yes For With
AJG Ratify Ernst & Young LLP Management Yes For With
PNC Financial Services PNC 693475105 4/24/07 Elec 18 Directors Management Yes For With
1996 Executive incentive
PNC award plan Management Yes For With
Ratify
PNC Pricewaterhousecoopers, LLP Management Yes For With
Zimmer Holding ZMH 9856P102 5/7/07 Elec 2 Director Management Yes For With
ZMH Auditor Ratify Management Yes For With
Restated certificate
Annual Election of all
ZMH Directors Management Yes For With
ZMH Adopt simple majority vote Shareholder Yes Against With
American Electric Power AEP 025537101 4/24/07 Elec 13 Directors Management Yes Withhold Against
Approve Senior Officer
AEP incentive Management Yes For With
AEP Ratify accounting firm Management Yes For With
Ameren Corporation AEE 023608102 4/24/07 Elec 12 Directors Management Yes For With
Ratify Public accounting
AEE firm Management Yes For With
Report on Callaway Plant
AEE Releases Management Yes Against With
Bristol-Myers Squibb BMY 110122108 5/1/07 Elec 9 Directors Management Yes For With
Ratify public accounting
BMY firm Management Yes For With
2007 Stock Award and
BMY Incentive Management Yes For With
Senior Executive
BMY Performance Incentive Plan Management Yes For With
Executive Compensation
BMY Disclosure Management Yes Against With
BMY Recoupment Management Yes Against With
BMY Cumulative Voting Management Yes Against With
Duke Energy Corporation DUK 26441C105 5/10/07 Elec 10 Directors Management Yes For With
Ratify Deloitte & Touche
DUK LLP Management Yes For With
Energy East Corporation EAS 29266M109 6/14/07 Elec 11 Directors Management Yes For With
Ratify
EAS Pricewaterhousecoopers, LLP Management Yes For With
Exelon Corporation EXC 30161N101 5/8/07 Elec 6 Directors Management Yes For With
EXC Rafify accountant Management Yes For With
Allow Election of all
EXC Directors beginning 2008 Management Yes For With
Require shareholder
approval of future
executive serverance
EXC benefits Management No Against With
Firstenergy Corp. FE 337932107 5/15/07 Elec 11 Directors Management No Against Against
FE Ratify accounting firm Management Yes For With
FE Approve 2007 incentive plan Management Yes For With
FE Shareowner Proposal Shareholder Yes For With
Shareowner Proposal Shareholder Yes For With
Shareowner Proposal Shareholder Yes For Against
Great Plains Energy Inc. GXP 391164100 5/1/07 Elec 11 Directors Management Yes For With
Ratify deloitte & Touche
GXP LLP Management Yes For With
Approve amendments to
GXP Long-Term Incentive Plan Management Yes For With
Keycorp KEY 493267108 5/10/07 Elec 4 Directors Management Yes For With
Code regulations to reduce
KEY board size Management Yes For With
Steps to cause Annual
KEY Election Directors Shareholder Yes For Against
Ratify Independent
KEY Accounting Firm Management Yes For With
Alliant Energy Corp LNT 018802108 5/10/07 Elec 5 Directors Management Yes For With
Raitfy of Deloitte &
LNT Touche LLP Management Yes For With
JP Morgan Chase & Co. JPM 46625H100 5/15/07 Elec 11 Directors Management No Against Against
JPM Appoint public accountant Management Yes For With
JPM Stock Options Management Yes Against With
performance-based
JPM restricted stock Management Yes Against With
Executive Compensation
JPM Approval Management No Against With
JPM Separate chairman Management Yes Against With
JPM Cumulative Voting Management Yes Against With
Majority voting for
JPM directors Management Yes Against With
Political Contribution
JPM Report Management Yes Against With
JPM Slavery apology report Management Yes Against With
Integrys Energy Group JPM Elec 5 Directors Management Yes For With
Approve 2007 Omnubus
JPM incentive Management Yes For With
issuance of an additional
0.7 million shares of
JPM common stock Management Yes For With
Ratify Deloitte & Touche
JPM LLP Management Yes For With
Verizon VZ 92343V104 5/3/07 Elec 15 Directors Management Yes For With
Ratify Independent
VZ Accounting Firm Management Yes For With
VZ Eliminate stock options Management Yes Against With
VZ Future Severance agreements Management Yes Against With
Compensation consultant
VZ disclosure Management Yes Against With
Advisory vote on Executive
VZ Compensation Management Yes Against With
Limit service on outside
VZ boards Management Yes For Against
VZ Future Poison Pill Management Yes Against With
Report on charitable
VZ contributions Management Yes Against With
Chevron Corp CVX 166764100 3/12/07 Elec 14 Directors Management Yes For With
Ratify Public accounting
CVX firm Management Yes For With
Restated certificate of
incorporation to repeal
the Supermajority Vote
CVX Provisions Management Yes For With
Adopt policy and report on
CVX human right Management Yes Against With
Adopt goals and report on
CVX greenhouse gas emissions Management Yes Against With
Adopt policy and report on
CVX animal welfare Management Yes Against With
By-Laws to Separate the
CVX CEO/Chairman positions Management Yes Against With
Amend the By-Laws
regarding the Stockholder
CVX Rights Plan Policy Management Yes Against With
Report on host County
CVX Environment Laws Management Yes Against With
AT & T T 00206R102 4/27/07 Elec 17 Directors Management Yes For With
Ratify Independent
T Accounting Firm Management Yes For With
approve the AT & T
T serverance policy Management Yes For With
T Stockholders Proposal A Shareholder Yes Against With
T Stockholders Proposal B Shareholder Yes Against With
T Stockholders Proposal C Shareholder Yes Against With
T Stockholders Proposal D Shareholder Yes Against With
T Stockholders Proposal E Shareholder Yes Against With
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
Fundersigned, thereunto duly authorized.
Copley Fund, Inc.
By: /s/ Irving Levine
President
Date: August 29, 2007