0001193125-14-027377.txt : 20140130 0001193125-14-027377.hdr.sgml : 20140130 20140130073704 ACCESSION NUMBER: 0001193125-14-027377 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140130 DATE AS OF CHANGE: 20140130 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ARROW ELECTRONICS INC CENTRAL INDEX KEY: 0000007536 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 111806155 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30198 FILM NUMBER: 14558864 BUSINESS ADDRESS: STREET 1: 25 HUB DR CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 5163911300 MAIL ADDRESS: STREET 1: 50 MARCUS DR CITY: MELVILLE STATE: NY ZIP: 11747 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Artisan Partners Limited Partnership CENTRAL INDEX KEY: 0001466153 IRS NUMBER: 300551775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 875 E WISCONSIN AVE STREET 2: STE 800 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: (414) 390-6100 MAIL ADDRESS: STREET 1: 875 E WISCONSIN AVE STREET 2: STE 800 CITY: MILWAUKEE STATE: WI ZIP: 53202 SC 13G/A 1 d665065dsc13ga.txt ARROW ELECTRINICS INC SCHEDULE 13G (Rule 13d-102) Information to be Included in Statements Filed Pursuant to Rule 13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to Rule 13d-2. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Under the Securities Exchange Act of 1934 (Amendment No. 4)* Arrow Electronics Inc -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 042735100 ------------------------------------------ (CUSIP Number) December 31, 2013 ------------------------------------------ (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [_] Rule 13d-1(c) [_] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Partners Limited Partnership -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) IA -------------------------------------------------------------------------------- Page 2 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Investments GP LLC -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) HC -------------------------------------------------------------------------------- Page 3 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Partners Holdings LP -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) HC -------------------------------------------------------------------------------- Page 4 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Partners Asset Management Inc. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) HC -------------------------------------------------------------------------------- Page 5 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Investment Corporation -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) HC -------------------------------------------------------------------------------- Page 6 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ZFIC, Inc. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) HC -------------------------------------------------------------------------------- Page 7 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Andrew A. Ziegler -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) IN -------------------------------------------------------------------------------- Page 8 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Carlene M. Ziegler -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 8,641,954 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 8,945,691 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,945,691 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) IN -------------------------------------------------------------------------------- Page 9 of 19 CUSIP No. 042735100 13G -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Artisan Partners Funds, Inc. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a) [_] (b) [_] Not Applicable -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF None SHARES --------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 6,598,270 REPORTING --------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH None --------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 6,598,270 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,598,270 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) [_] Not Applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.5% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (see Instructions) IC -------------------------------------------------------------------------------- Page 10 of 19 Item 1(a) Name of Issuer: Arrow Electronics Inc Item 1(b) Address of Issuer's Principal Executive Offices: 7459 S. LIMA STREET, ENGLEWOOD, CO 80112 Item 2(a) Name of Person Filing: Artisan Partners Limited Partnership ("APLP") Artisan Investments GP LLC ("Artisan Investments") Artisan Partners Holdings LP ("Artisan Holdings") Artisan Partners Asset Management Inc. ("APAM") Artisan Investment Corporation ("AIC") ZFIC, Inc. ("ZFIC") Andrew A. Ziegler Carlene M. Ziegler Artisan Partners Funds, Inc. ("Artisan Funds") Item 2(b) Address of Principal Business Office: APLP, Artisan Investments, Artisan Holdings, APAM, AIC, ZFIC, Mr. Ziegler, Ms. Ziegler and Artisan Funds are all located at: 875 East Wisconsin Avenue, Suite 800 Milwaukee, WI 53202 Item 2(c) Citizenship: APLP is a Delaware limited partnership Artisan Investments is a Delaware limited liability company Artisan Holdings is a Delaware limited partnership APAM is a Delaware corporation AIC is a Wisconsin corporation ZFIC is a Wisconsin corporation Mr. Ziegler and Ms. Ziegler are U.S. citizens Artisan Funds is a Wisconsin corporation Item 2(d) Title of Class of Securities: Common Stock Item 2(e) CUSIP Number: 042735100 Item 3 Type of Person: (d) Artisan Funds is an Investment Company under section 8 of the Investment Company Act. (e) APLP is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. (g) Artisan Holdings is the sole limited partner of APLP and the sole member of Artisan Investments; Artisan Investments is the general partner of APLP; APAM is the general partner of Artisan Holdings; AIC is a control person of APAM; ZFIC is the sole stockholder of AIC; Mr. Ziegler and Ms. Ziegler are the principal stockholders of ZFIC. Page 11 of 19 Item 4 Ownership (at December 31, 2013): (a) Amount owned "beneficially" within the meaning of rule 13d-3: 8,945,691 (b) Percent of class: 8.9% (based on 100,741,713 shares outstanding as of October 25, 2013) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: None (ii) shared power to vote or to direct the vote: 8,641,954 (iii) sole power to dispose or to direct the disposition of: None (iv) shared power to dispose or to direct the disposition of: 8,945,691 Item 5 Ownership of Five Percent or Less of a Class: Not Applicable Item 6 Ownership of More than Five Percent on Behalf of Another Person: The shares reported herein have been acquired on behalf of discretionary clients of APLP; as reported herein, APLP holds 8,945,691 shares, including 6,598,270 shares on behalf of Artisan Funds. Persons other than APLP are entitled to receive all dividends from, and proceeds from the sale of, those shares. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person: Not Applicable Item 8 Identification and Classification of Members of the Group: Not Applicable Item 9 Notice of Dissolution of Group: Not Applicable Item 10 Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 12 of 19 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 30, 2014 ARTISAN PARTNERS ASSET MANAGEMENT INC, for itself and as the general partner of ARTISAN PARTNERS HOLDINGS LP By: Gregory K. Ramirez* ------------------------------------ ARTISAN INVESTMENTS GP LLC, for itself and as the general partner of ARTISAN PARTNERS LIMITED PARTNERSHIP By: Gregory K. Ramirez* ------------------------------------ ARTISAN INVESTMENT CORPORATION By: Gregory K. Ramirez* ------------------------------------ ZFIC, INC. By: Gregory K. Ramirez* ------------------------------------ ANDREW A. ZIEGLER Andrew A. Ziegler* ------------------------------------------ CARLENE M. ZIEGLER Carlene M. Ziegler* ------------------------------------------ ARTISAN PARTNERS FUNDS, INC. By: Gregory K. Ramirez* ------------------------------------ *By: /s/ Gregory K. Ramirez ----------------------------------- Gregory K. Ramirez Assistant Treasurer of Artisan Partners Asset Management Inc. Vice President of Artisan Investments GP LLC Attorney-in-Fact for Artisan Investment Corporation Attorney-in-Fact for ZFIC, Inc. Attorney-in-Fact for Andrew A. Ziegler Attorney-in-Fact for Carlene M. Ziegler Chief Financial Officer, Vice President and Treasurer of Artisan Partners Funds, Inc. Page 13 of 19 Exhibit Index Exhibit 1 Joint Filing Agreement dated January 30, 2014 by and among Artisan Partners Limited Partnership, Artisan Investments GP LLC, Artisan Partners Holdings LP, Artisan Partners Asset Management Inc., Artisan Investment Corporation, ZFIC, Inc., Andrew A. Ziegler, Carlene M. Ziegler and Artisan Partners Funds, Inc. Exhibit 2 Power of Attorney of Artisan Investment Corporation dated February 28, 2013 Exhibit 3 Power of Attorney of ZFIC, Inc., dated August 31, 2012 Exhibit 4 Power of Attorney of Andrew A. Ziegler dated August 31, 2012 Exhibit 5 Power of Attorney of Carlene M. Ziegler dated August 31, 2012 Page 14 of 19 EXHIBIT 1 JOINT FILING AGREEMENT The undersigned hereby agree to the joint filing of the Schedule 13G to which this Agreement is attached. Dated: January 30, 2014 ARTISAN PARTNERS ASSET MANAGEMENT INC, for itself and as the general partner of ARTISAN PARTNERS HOLDINGS LP By: Gregory K. Ramirez* ------------------------------------ ARTISAN INVESTMENTS GP LLC, for itself and as the general partner of ARTISAN PARTNERS LIMITED PARTNERSHIP By: Gregory K. Ramirez* ------------------------------------ ARTISAN INVESTMENT CORPORATION By: Gregory K. Ramirez* ------------------------------------ ZFIC, INC. By: Gregory K. Ramirez* ------------------------------------ ANDREW A. ZIEGLER Andrew A. Ziegler* ----------------------------------------- CARLENE M. ZIEGLER Carlene M. Ziegler* ----------------------------------------- ARTISAN PARTNERS FUNDS, INC. By: Gregory K. Ramirez* ------------------------------------ *By: /s/ Gregory K. Ramirez ----------------------------------- Gregory K. Ramirez Assistant Treasurer of Artisan Partners Asset Management Inc. Vice President of Artisan Investments GP LLC Attorney-in-Fact for Artisan Investment Corporation Attorney-in-Fact for ZFIC, Inc. Attorney-in-Fact for Andrew A. Ziegler Attorney-in-Fact for Carlene M. Ziegler Chief Financial Officer, Vice President and Treasurer of Artisan Partners Funds, Inc. Page 15 of 19 EXHIBIT 2 POWER OF ATTORNEY The undersigned, Artisan Investment Corporation, hereby appoints Charles J. Daley, Jr., Sarah A. Johnson, Gregory K. Ramirez and Rebecca Himmelspach, and each of them individually, its true and lawful attorney-in-fact and agent, with full power to execute and file with the United States Securities and Exchange Commission and any stock exchange or similar authority, for and on its behalf in any and all capacities, any and all reports required to be filed pursuant to Section 13 of the Securities Exchange Act of 1934 and the rules thereunder, including but not limited to reports on Schedule 13D or 13G, any and all amendments to such reports, with all exhibits, and any other forms or documents as may be necessary in connection with the filing of such reports with the United States Securities and Exchange Commission and any stock exchange or similar authority, granting unto said attorney full power and authority to do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete, as fully as the undersigned might or could do in person. This Power of Attorney shall remain in full force and effect until revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact and agents. IN WITNESS WHEREOF the undersigned has caused this Power of Attorney to be executed this 28th day of February, 2013. Artisan Investment Corporation By: /s/ Andrew A. Ziegler ----------------------------- Andrew A. Ziegler President STATE OF WISCONSIN ) ) SS. COUNTY OF MILWAUKEE) I, Lisa Moran, a Notary Public in and for the County of Milwaukee, State of Wisconsin, DO HEREBY CERTIFY that Andrew A. Ziegler, who is personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he signed and delivered the said instrument as his own free and voluntary act, for the uses and purposes therein set forth. Given under my hand and notarial seal, this 28th day of February, 2013. /s/ Lisa Moran ----------------------------- Notary Public Page 16 of 19 EXHIBIT 3 POWER OF ATTORNEY The undersigned, ZFIC, Inc., hereby appoints Charles J. Daley, Jr., Sarah A. Johnson, Gregory K. Ramirez and Rebecca Himmelspach, and each of them individually, its true and lawful attorney-in-fact and agent, with full power to execute and file with the United States Securities and Exchange Commission and any stock exchange or similar authority, for and on its behalf in any and all capacities, any and all reports required to be filed pursuant to Section 13 of the Securities Exchange Act of 1934 and the rules thereunder, including but not limited to reports on Schedule 13D or 13G, any and all amendments to such reports, with all exhibits, and any other forms or documents as may be necessary in connection with the filing of such reports with the United States Securities and Exchange Commission and any stock exchange or similar authority, granting unto said attorney full power and authority to do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete, as fully as the undersigned might or could do in person. This Power of Attorney shall remain in full force and effect until revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact and agents. IN WITNESS WHEREOF the undersigned has caused this Power of Attorney to be executed this 31st day of August, 2012. ZFIC, INC. By: /s/ Andrew A. Ziegler ----------------------------- Andrew A. Ziegler Vice President STATE OF WISCONSIN ) ) SS. COUNTY OF MILWAUKEE) I, Lisa Moran, a Notary Public in and for the County of Milwaukee, State of Wisconsin, DO HEREBY CERTIFY that Andrew A. Ziegler, who is personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he signed and delivered the said instrument as his own free and voluntary act, for the uses and purposes therein set forth. Given under my hand and notarial seal, this 31st day of August, 2012. /s/ Lisa Moran ------------------------------ Notary Public Page 17 of 19 EXHIBIT 4 POWER OF ATTORNEY The undersigned, Andrew A. Ziegler, hereby appoints Charles J. Daley, Jr., Sarah A. Johnson, Gregory K. Ramirez and Rebecca Himmelspach, and each of them individually, his true and lawful attorney-in-fact and agent, with full power to execute and file with the United States Securities and Exchange Commission and any stock exchange or similar authority, for and on his behalf in any and all capacities, any and all reports required to be filed pursuant to Section 13 of the Securities Exchange Act of 1934 and the rules thereunder, including but not limited to reports on Schedule 13D or 13G, any and all amendments to such reports, with all exhibits, and any other forms or documents as may be necessary in connection with the filing of such reports with the United States Securities and Exchange Commission and any stock exchange or similar authority, granting unto said attorney full power and authority to do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete, as fully as the undersigned might or could do in person. This Power of Attorney shall remain in full force and effect until revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact and agents. IN WITNESS WHEREOF the undersigned has caused this Power of Attorney to be executed this 31st day of August, 2012. /s/ Andrew A. Ziegler ------------------------------ Andrew A. Ziegler STATE OF WISCONSIN ) ) SS. COUNTY OF MILWAUKEE) I, Lisa Moran, a Notary Public in and for the County of Milwaukee, State of Wisconsin, DO HEREBY CERTIFY that Andrew A. Ziegler, who is personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he signed and delivered the said instrument as his own free and voluntary act, for the uses and purposes therein set forth. Given under my hand and notarial seal, this 31st day of August, 2012. /s/ Lisa Moran ------------------------------ Notary Public Page 18 of 19 EXHIBIT 5 POWER OF ATTORNEY The undersigned, Carlene M. Ziegler, hereby appoints Charles J. Daley, Jr., Sarah A. Johnson, Gregory K. Ramirez and Rebecca Himmelspach, and each of them individually, her true and lawful attorney-in-fact and agent, with full power to execute and file with the United States Securities and Exchange Commission and any stock exchange or similar authority, for and on her behalf in any and all capacities, any and all reports required to be filed pursuant to Section 13 of the Securities Exchange Act of 1934 and the rules thereunder, including but not limited to reports on Schedule 13D or 13G, any and all amendments to such reports, with all exhibits, and any other forms or documents as may be necessary in connection with the filing of such reports with the United States Securities and Exchange Commission and any stock exchange or similar authority, granting unto said attorney full power and authority to do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete, as fully as the undersigned might or could do in person. This Power of Attorney shall remain in full force and effect until revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact and agents. IN WITNESS WHEREOF the undersigned has caused this Power of Attorney to be executed this 31st day of August, 2012. /s/ Carlene M. Ziegler ------------------------------ Carlene M. Ziegler STATE OF WISCONSIN ) ) SS. COUNTY OF MILWAUKEE) I, Lisa Moran, a Notary Public in and for the County of Milwaukee, State of Wisconsin, DO HEREBY CERTIFY that Carlene M. Ziegler, who is personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that she signed and delivered the said instrument as her own free and voluntary act, for the uses and purposes therein set forth. Given under my hand and notarial seal, this 31st day of August, 2012. /s/ Lisa Moran ------------------------------ Notary Public Page 19 of 19