o | Preliminary Proxy Statement | |
o | Confidential, For Use Of The Commission Only (as permitted by Rule 14A-6(e)(2)) | |
þ | Definitive Proxy Statement | |
o | Definitive Additional Materials | |
o | Soliciting Material Pursuant to § 240.14a-12 |
þ | No fee required. | |
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. |
(1) | Title of each class of securities to which transaction applies: | ||
(2) | Aggregate number of securities to which transaction applies: | ||
(3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | ||
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o | Fee paid previously with preliminary materials. | |
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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(3) | Filing Party: | ||
(4) | Date Filed: | ||
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Amount and |
||||||||||
Nature of |
||||||||||
Beneficial |
Percent of |
|||||||||
Name and Address of Beneficial Owner
|
Title of Class | Ownership | Class | |||||||
Malcolm S. Morris
|
Class B Common Stock | 275,006 | 26.2 | |||||||
1980 Post Oak Boulevard
|
||||||||||
Houston, Texas 77056
|
||||||||||
Stewart Morris, Jr.
|
Class B Common Stock | 525,006 | 50.0 | |||||||
1980 Post Oak Boulevard
|
||||||||||
Houston, Texas 77056
|
||||||||||
Matthew W. Morris
|
Class B Common Stock | 250,000 | 23.8 | |||||||
1980 Post Oak Boulevard
|
||||||||||
Houston, Texas 77056
|
||||||||||
Wells Fargo & Company
|
Common Stock | 3,304,909 | (1) | 18.2 | ||||||
420 Montgomery Street
|
||||||||||
San Francisco, California 94104
|
||||||||||
Dimensional Fund Advisors LP
|
Common Stock | 1,444,919 | (2) | 8.0 | ||||||
Palisades West, Building One
|
||||||||||
6300 Bee Cave Road
|
||||||||||
Austin, Texas 78746
|
||||||||||
BlackRock, Inc.
|
Common Stock | 1,434,343 | (3) | 7.9 | ||||||
40 East 52nd Street
|
||||||||||
New York, New York 10022
|
||||||||||
Wellington Management Company, LLP
|
Common Stock | 1,346,572 | (4) | 7.4 | ||||||
280 Congress Street
|
||||||||||
Boston, Massachusetts 02210
|
||||||||||
Prescott Group Capital Management LLC
|
Common Stock | 1,005,078 | (5) | 5.5 | ||||||
1924 South Utica, Suite 1120
Tulsa, Oklahoma 74104 |
(1) | Wells Fargo & Company reported sole voting power with respect to 2,871,203 of such shares and sole dispositive power with respect to 3,156,909 of such shares in its report on Schedule 13G filed January 20, 2011, which it filed on its behalf and on behalf of certain of its subsidiaries, including Wells Capital Management Incorporated and Wells Fargo Funds Management, LLC. | |
(2) | Dimensional Fund Advisors LP reported sole voting power with respect to 1,410,990 of such shares and sole dispositive power with respect to all of such shares in its report on Schedule 13G filed February 11, 2011. Dimensional is an investment adviser registered under Section 203 of the Investment Advisors Act of 1940 and furnishes investment advice to four investment companies registered under the Investment Company Act of 1940. Dimensional also serves as investment manager to certain other commingled group trusts and separate accounts. All securities reported in this schedule are owned by these investment companies, trusts and accounts. Dimensional disclaims beneficial ownership of such securities. | |
(3) | BlackRock, Inc. reported sole voting and dispositive powers with respect to all of such shares in its report on Schedule 13G/A filed February 8, 2011. | |
(4) | Wellington Management Company, LLP reported sole voting power with respect to 1,133,572 of such shares and sole dispositive power with respect to all of such shares in its report on Schedule 13G filed February 14, 2011. | |
(5) | Prescott Group Capital Management LLC reported sole voting and dispositive powers with respect to all of such shares in its report on Schedule 13G filed February 14, 2011, which it filed on its behalf and on the behalf of its |
3
affiliates, including Prescott Group Aggressive Small Cap, L.P., Prescott Group Aggressive Small Cap II, L.P. and Mr. Phil Frohlich. |
Amount and |
||||||||||
Nature of |
||||||||||
Beneficial |
Percent of |
|||||||||
Name
|
Title of Class | Ownership(1) | Class | |||||||
Malcolm S. Morris
|
Common Stock | 117,832 | (2) | * | ||||||
Class B Common Stock | 275,006 | 26.2 | ||||||||
Stewart Morris, Jr.
|
Common Stock | 107,858 | (3) | * | ||||||
Class B Common Stock | 525,006 | 50.0 | ||||||||
Matthew W. Morris
|
Common Stock | 24,305 | (4) | * | ||||||
Class B Common Stock | 250,000 | 23.8 | ||||||||
J. Allen Berryman
|
Common Stock | 14,080 | (5) | * | ||||||
Michael B. Skalka
|
Common Stock | 18,962 | (6) | * | ||||||
E. Ashley Smith
|
Common Stock | 33,022 | (7) | * | ||||||
Catherine A. Allen
|
Common Stock | 8,138 | * | |||||||
Thomas G. Apel
|
Common Stock | 9,131 | * | |||||||
Robert L. Clarke
|
Common Stock | 21,594 | * | |||||||
Paul W. Hobby
|
Common Stock | 14,853 | * | |||||||
Dr. E. Douglas Hodo
|
Common Stock | 15,138 | * | |||||||
Laurie C. Moore
|
Common Stock | 9,532 | * | |||||||
Dr. W. Arthur Porter
|
Common Stock | 11,938 | * | |||||||
All executive officers, directors and nominees for director as a
group (15 persons)
|
Common Stock | 510,091 | 2.8 | |||||||
Class B Common Stock | 1,050,012 | 100.0 |
* | Less than 1%. | |
(1) | Unless otherwise indicated, the beneficial owner has sole voting and dispositive power with respect to all shares indicated. | |
(2) | Includes 50,000 shares subject to stock options, and 10,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011. | |
(3) | Includes 50,000 shares subject to stock options, and 10,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011. | |
(4) | Includes 1,600 shares subject to stock options, 5,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011, and 491 shares owned through the Companys 401(k) plan. | |
(5) | Includes 4,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011, and 11 shares owned through the Companys 401(k) plan. | |
(6) | Includes 6,300 shares subject to stock options, and 6,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011. |
4
(7) | Includes 1,000 shares subject to stock options, 2,000 shares of restricted stock that will vest 20 percent each year over five years beginning March 10, 2011, and 415 shares owned through the Companys 401(k) plan. |
5
Nominee, Age and Position with Stewart
|
Director Since | |||
Catherine A. Allen, 64, Director
|
2009 | |||
Robert L. Clarke, 68, Director
|
2004 | |||
Dr. E. Douglas Hodo, 76, Director
|
1988 | |||
Laurie C. Moore, 65, Director
|
2004 | |||
Dr. W. Arthur Porter, 69, Director
|
1993 |
6
Nominee, Age and Position with Stewart
|
Director Since | |||
Thomas G. Apel, 50, Director
|
2009 | |||
Paul W. Hobby, 50, Director
|
1989 | |||
Malcolm S. Morris, 64, Co-Chief Executive Officer and
Chairman of the Board of Directors |
2000 | |||
Stewart Morris, Jr., 62, Co-Chief Executive Officer, President
and Director
|
2000 |
7
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9
10
| Each director should be an individual of the highest character and integrity and have an inquiring mind, experience at a strategic or policy-setting level, or otherwise possess a high level of specialized expertise, and the ability to work well with others. Special expertise or experience that will augment the board of directors expertise is particularly desirable. | |
| Each director should have sufficient time available to devote to our affairs to carry out the responsibilities of a director and, absent special circumstances, no director should simultaneously serve on the boards of directors of more than three public companies. Directors are qualified for service on the board of directors only if they are able to make a commitment to prepare for and attend meetings of the board of directors and its committees on a regular basis. | |
| Each independent director should be free of any significant conflict of interest that would interfere with the independence and proper performance of the responsibilities of a director. | |
| Directors to be nominated for election by our Common Stockholders should not be chosen as representatives of a constituent group or organization. Each should utilize his or her unique experience and background to represent and act in the best interests of all stockholders as a group. |
11
| Review and approve the goals and objectives relevant to the compensation of the Co-Chief Executive Officers, evaluate the Co-Chief Executive Officers performance in light of those goals and objectives, and recommend to the board of directors the Co-Chief Executive Officers compensation levels based upon this evaluation. | |
| Administer the stock-based compensation plans that we have adopted (or may adopt). | |
| Review and approve employment, severance and change-in-control agreements with our executive officers. | |
| Review the overall compensation structure for all employees and make recommendations to the board of directors with respect to non-Chief Executive Officer compensation, incentive compensation plans and equity-based plans. | |
| Retain at its discretion and on behalf of the Company one or more firms that specialize in officer compensation to compare compensation we pay to our officers to compensation paid by competitors. | |
| Produce an annual report on executive compensation for inclusion in the proxy statement as the Compensation Discussion and Analysis section. | |
| Annually review and reassess the adequacy of its charter and recommend any proposed changes to the board of directors for approval. | |
| Annually perform an evaluation of its performance to determine whether the Compensation Committee is functioning effectively and report its conclusions to the board of directors. |
12
| Technology strategies of the Company primarily maintained by the IT divisions. | |
| Matters relating to information security, IT controls, business continuity, disaster recovery and other risk management activities. | |
| Measurement and tracking systems important to successful innovation, project and technology development, and risk management. | |
| The creation of, maintenance of, and sunsetting of technology products, services, and production. | |
| Opportunities to partner and integrate technology with others in the industry to meet the needs of the market place by customer segment (lender, builder, realtor, commercial owner, title agent). | |
| The Companys competitiveness, including the effectiveness of its technological efforts and investments in developing new products and businesses, and exploring new business opportunities by customer segment. | |
| Future trends in technology that may affect the Companys strategic plans, including monitoring of overall industry trends. |
Malcolm S. Morris
|
Chairman of the Board and Co-Chief Executive Officer | |
Stewart Morris, Jr.
|
President and Co-Chief Executive Officer | |
Matthew W. Morris
|
Senior Executive Vice President | |
J. Allen Berryman
|
Chief Financial Officer, Secretary, Treasurer, and Principal Financial Officer | |
E. Ashley Smith
|
Executive Vice President Chief Legal Officer | |
Michael B. Skalka
|
President Stewart Title Guaranty Company |
13
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15
16
17
18
19
20
21
Change in |
||||||||||||||||||||||||||||||||
Pension |
||||||||||||||||||||||||||||||||
Value and |
||||||||||||||||||||||||||||||||
Nonqualified |
||||||||||||||||||||||||||||||||
Non-Equity |
Deferred |
|||||||||||||||||||||||||||||||
Stock |
Incentive Plan |
Compensation |
All Other |
|||||||||||||||||||||||||||||
Salary |
Bonus |
Awards |
Compensation |
Earnings |
Compensation |
Total |
||||||||||||||||||||||||||
Name and Principal Position |
Year |
($)(1) |
($) |
($)(2) |
($)(3) |
($) |
($)(4) |
($) |
||||||||||||||||||||||||
(a) | (b) | (c) | (d) | (e) | (g) | (h) | (i) | (j) | ||||||||||||||||||||||||
Malcolm S. Morris
|
2010 | 305,000 | 100,000 | 390,520 | 319,049 | 114,000 | 31,707 | 1,260,276 | ||||||||||||||||||||||||
Chairman of the Board and
|
2009 | 253,750 | 200,000 | 357,240 | | 107,000 | 30,802 | 948,792 | ||||||||||||||||||||||||
Co-Chief Executive Officer
|
2008 | 225,000 | | 349,560 | | 99,000 | 39,062 | 712,622 | ||||||||||||||||||||||||
Stewart Morris, Jr.
|
2010 | 305,000 | 100,000 | 390,520 | 319,049 | 99,000 | 18,939 | 1,232,508 | ||||||||||||||||||||||||
President and
|
2009 | 253,750 | 200,000 | 357,240 | | 93,000 | 58,343 | 962,333 | ||||||||||||||||||||||||
Co-Chief Executive Officer
|
2008 | 225,000 | | 349,560 | | 87,000 | 27,476 | 689,036 | ||||||||||||||||||||||||
J. Allen Berryman(5)
|
2010 | 250,000 | 150,000 | 181,640 | | | 7,400 | 589,040 | ||||||||||||||||||||||||
Executive Vice President and
|
2009 | 250,000 | 150,000 | 224,540 | | | 7,600 | 632,140 | ||||||||||||||||||||||||
Chief Financial Officer, Secretary and Treasurer
|
2008 | 87,333 | 37,500 | | | | 2,972 | 127,805 | ||||||||||||||||||||||||
Michael B. Skalka(6)
|
2010 | 500,000 | | 243,560 | | | 34,700 | 778,260 | ||||||||||||||||||||||||
President Stewart Title Guaranty Company
|
2009 | 500,000 | 25,000 | 125,412 | | | 11,400 | 661,812 | ||||||||||||||||||||||||
Matthew W. Morris
|
2010 | 275,000 | 150,000 | 218,380 | 38,065 | | 11,200 | 692,645 | ||||||||||||||||||||||||
Senior Executive Vice
|
2009 | 200,000 | 175,000 | 270,460 | | | 11,450 | 656,910 | ||||||||||||||||||||||||
President
|
2008 | 200,000 | 100,000 | 233,040 | | | 15,000 | 548,040 | ||||||||||||||||||||||||
E. Ashley Smith
|
2010 | 300,000 | 50,000 | 96,600 | | | 8,500 | 455,100 | ||||||||||||||||||||||||
Executive Vice President and
|
2009 | 300,000 | 50,000 | 54,480 | | | 8,400 | 412,880 | ||||||||||||||||||||||||
Chief Legal Officer
|
2008 | 300,000 | | 58,260 | | | 11,100 | 369,360 |
(1) | Includes salary earned and deferred at the officers election and any guaranteed bonus. | |
(2) | The amounts under Stock Awards are comprised of (a) restricted stock awards granted March 9, 2011, which will vest 20 percent each year over five years beginning March 9, 2011, (b) unrestricted stock awards granted March 9, 2011, and (c) restricted stock awards granted March 10, 2010, which will vest 20 percent each year over five years beginning March 10, 2011, each of (a), (b) and (c) was granted for 2010 performance. For additional information regarding these awards, see the table below captioned Grants of Plan-Based Awards. For additional information regarding the restricted stock awards, see Note 14 to our consolidated financial statements included in our Form 10-K for the fiscal year ended December 31, 2010. | |
(3) | Comprised of formula-based executive bonuses and distributions under the Strategic Incentive Pool Plan (SIPP). See Compensation Discussion and Analysis Elements of Compensation and Compensation Discussion and Analysis Incentive Awards, and the table below captioned Grants of Plan-Based Awards. With respect to the SIPP, the table above assumes two of the three performance targets were achieved. Certification of, and payout under, the SIPP will not be finalized until May 2011. | |
(4) | See the following table captioned All Other Compensation. | |
(5) | Mr. Berryman has served as Executive Vice President, Chief Financial Officer, Secretary and Treasurer of the Company since he joined the Company in September 2008. | |
(6) | Mr. Skalka became a named executive officer in 2009. Mr. Skalka has served in various roles with the Company since 1988 and is currently President of Stewart Title Guaranty Company. |
22
Malcolm S. |
Stewart |
J. Allen |
Michael B. |
Matthew W. |
E. Ashley |
|||||||||||||||||||
Item
|
Morris | Morris, Jr. | Berryman | Skalka | Morris | Smith | ||||||||||||||||||
Other Compensation
|
||||||||||||||||||||||||
Directors fees
|
$ | 4,350 | $ | 5,950 | | $ | 3,000 | $ | 3,750 | | ||||||||||||||
Life insurance premiums
|
| | | $ | 23,000 | | | |||||||||||||||||
Restricted stock dividends
|
$ | 500 | $ | 500 | $ | 200 | $ | 300 | $ | 250 | $ | 100 | ||||||||||||
Perquisites
|
||||||||||||||||||||||||
Personal use of company-owned auto or car allowance
|
$ | 8,845 | $ | 4,236 | $ | 7,200 | $ | 8,400 | $ | 7,200 | $ | 8,400 | ||||||||||||
Home security
|
$ | 4,200 | $ | 2,681 | | | | | ||||||||||||||||
Country club dues
|
$ | 6,710 | $ | 5,572 | | | | | ||||||||||||||||
Investment and tax planning and tax preparation
|
$ | 7,102 | | | | | | |||||||||||||||||
$ | 31,707 | $ | 18,939 | $ | 7,400 | $ | 34,700 | $ | 11,200 | $ | 8,500 | |||||||||||||
23
Estimated Future |
||||||||||||||||
Payouts Under |
All Other |
Grant Date |
||||||||||||||
Non-Equity |
Stock Awards: |
Fair Value |
||||||||||||||
Incentive Plan |
Number of |
of Stock |
||||||||||||||
Awards |
Shares of Stock |
and Option |
||||||||||||||
Name |
Grant Date |
($)(1)(2) |
or Units (#)(3) |
Awards ($) |
||||||||||||
(a) | (b) | (d) | (i) | (l) | ||||||||||||
Malcolm S. Morris
|
3/9/2011 | 10,000 | 115,600 | |||||||||||||
3/9/2011 | 12,000 | 138,720 | ||||||||||||||
4/30/2010 | 126,882 | |||||||||||||||
3/10/2010 | 10,000 | 136,200 | ||||||||||||||
5/1/2009 | 192,167 | |||||||||||||||
Stewart Morris, Jr.
|
3/9/2011 | 10,000 | 115,600 | |||||||||||||
3/9/2011 | 12,000 | 138,720 | ||||||||||||||
4/30/2010 | 126,882 | |||||||||||||||
3/10/2010 | 10,000 | 136,200 | ||||||||||||||
5/1/2009 | 192,167 | |||||||||||||||
J. Allen Berryman
|
3/9/2011 | 4,000 | 46,240 | |||||||||||||
3/9/2011 | 7,000 | 80,920 | ||||||||||||||
3/10/2010 | 4,000 | 54,480 | ||||||||||||||
Michael B. Skalka
|
3/9/2011 | 6,000 | 69,360 | |||||||||||||
3/9/2011 | 8,000 | 92,480 | ||||||||||||||
3/10/2010 | 6,000 | 81,720 | ||||||||||||||
Matthew W. Morris
|
3/9/2011 | 5,000 | 57,800 | |||||||||||||
3/9/2011 | 8,000 | 92,480 | ||||||||||||||
4/30/2010 | 38,065 | |||||||||||||||
3/10/2010 | 5,000 | 68,100 | ||||||||||||||
E. Ashley Smith
|
3/9/2011 | 2,000 | 23,120 | |||||||||||||
3/9/2011 | 4,000 | 46,240 | ||||||||||||||
3/10/2010 | 2,000 | 27,240 |
(1) | Consists of the annual formula-based bonuses for certain executives as described under Compensation Discussion and Analysis Elements of Compensation. Amounts shown in this column reflect the formula-based bonuses earned for 2010 that are included in column (g) of our Summary Compensation Table. | |
(2) | Consists of distributions under the SIPP for certain executives as described under Compensation Discussion and Analysis Incentive Awards. With respect to the SIPP, the table above assumes two of the three performance targets were achieved. Certification of, and payout under, the SIPP will not be finalized until May 2011. | |
(3) | The amounts under Stock Awards are comprised of (a) restricted stock awards granted March 9, 2011, which will vest 20 percent each year over five years beginning March 9, 2011, (b) unrestricted stock awards granted March 9, 2011, and (c) restricted stock awards granted March 10, 2010, which will vest 20 percent each year over five years beginning March 10, 2011, each of (a), (b) and (c) was granted for 2010 performance. For additional information regarding the restricted stock awards, see Note 14 to our consolidated financial statements included in our Form 10-K for the fiscal year ended December 31, 2010. |
24
Option Awards | Stock Awards | |||||||||||||||||||
Number of |
Market |
|||||||||||||||||||
Securities |
Number of |
Value of |
||||||||||||||||||
Underlying |
Shares of |
Shares of |
||||||||||||||||||
Unexercised |
Option |
Option |
Stock That |
Stock That |
||||||||||||||||
Options (#) |
Exercise |
Expiration |
Have Not |
Have Not |
||||||||||||||||
Name |
Exercisable |
Price ($) |
Date |
Vested (#) |
Vested ($) |
|||||||||||||||
(a) | (b) | (e) | (f) | (g) | (h) | |||||||||||||||
Malcolm S. Morris
|
25,000 | 21.87 | 1/23/2013 | 10,000 | 115,600 | |||||||||||||||
25,000 | 19.10 | 2/1/2012 | 10,000 | 136,200 | ||||||||||||||||
Stewart Morris, Jr.
|
25,000 | 21.87 | 1/23/2013 | 10,000 | 115,600 | |||||||||||||||
25,000 | 19.10 | 2/1/2012 | 10,000 | 136,200 | ||||||||||||||||
25,000 | 20.01 | 1/31/2011 | ||||||||||||||||||
J. Allen Berryman
|
4,000 | 46,240 | ||||||||||||||||||
4,000 | 54,480 | |||||||||||||||||||
Michael B. Skalka
|
1,800 | 26.83 | 12/1/2017 | 6,000 | 69,360 | |||||||||||||||
1,600 | 38.01 | 6/2/2016 | 6,000 | 81,720 | ||||||||||||||||
1,500 | 39.25 | 6/2/2015 | ||||||||||||||||||
1,400 | 32.24 | 5/21/2014 | ||||||||||||||||||
Matthew W. Morris
|
1,600 | 26.83 | 11/30/2017 | 5,000 | 57,800 | |||||||||||||||
5,000 | 68,100 | |||||||||||||||||||
E. Ashley Smith
|
1,000 | 26.83 | 11/30/2017 | 2,000 | 23,120 | |||||||||||||||
2,000 | 27,240 |
Stock Awards | ||||||||
Number of Shares |
||||||||
Acquired on |
Value Realized on |
|||||||
Name |
Vesting (#) |
Vesting ($) |
||||||
(a) | (d) | (e) | ||||||
Malcolm S. Morris
|
8,628 | 163,440 | ||||||
Stewart Morris, Jr.
|
7,420 | 163,440 | ||||||
J. Allen Berryman
|
4,195 | 95,340 | ||||||
Michael B. Skalka
|
5,042 | 108,960 | ||||||
Matthew W. Morris
|
4,786 | 108,960 | ||||||
E. Ashley Smith
|
2,746 | 54,480 |
25
Executive |
Aggregate |
Aggregate |
Aggregate |
|||||||||||||
Contributions in |
Earnings in |
Withdrawals/ |
Balance |
|||||||||||||
Last FY |
Last FY |
Distributions |
at Last FYE |
|||||||||||||
Name |
($) |
($) |
($) |
($) |
||||||||||||
(a) | (b) | (d) | (e) | (f) | ||||||||||||
Malcolm S. Morris
|
| 572 | | 476,835 | ||||||||||||
Stewart Morris, Jr.
|
| 22,966 | (34,114 | ) | 526,536 | |||||||||||
J. Allen Berryman
|
| | | | ||||||||||||
Michael B. Skalka
|
| 9,836 | | 77,264 | ||||||||||||
Matthew W. Morris
|
| | | | ||||||||||||
E. Ashley Smith
|
| | | |
Present Value of |
Payments During |
|||||||||||||
Number of Years |
Accumulated Benefit |
Last Fiscal Year |
||||||||||||
Name |
Plan Name |
Credited Service |
($) |
($) |
||||||||||
(a) | (b) | (c) | (d) | (e) | ||||||||||
Malcolm S. Morris
|
Agreement with | 40 | 1,742,000 | | ||||||||||
beneficiary | ||||||||||||||
Stewart Morris, Jr.
|
Agreement with | 37 | 1,521,000 | | ||||||||||
beneficiary | ||||||||||||||
J. Allen Berryman
|
| | | | ||||||||||
Michael B. Skalka
|
| | | | ||||||||||
Matthew W. Morris
|
| | | | ||||||||||
E. Ashley Smith
|
| | | |
26
Fees Earned or |
Stock |
All Other |
||||||||||||||
Paid in Cash |
Awards |
Compensation |
Total |
|||||||||||||
Name |
($) |
($)(1) |
($) |
($) |
||||||||||||
(a) | (b) | (c) | (g) | (h) | ||||||||||||
Catherine A. Allen
|
65,700 | 36,004 | 4,000 | 105,704 | ||||||||||||
Thomas G. Apel
|
82,800 | 36,004 | 4,000 | 122,804 | ||||||||||||
Robert L. Clarke
|
45,000 | 77,409 | | 122,409 | ||||||||||||
Paul W. Hobby
|
62,650 | 36,004 | | 98,654 | ||||||||||||
Dr. E. Douglas Hodo
|
76,500 | 36,004 | | 112,504 | ||||||||||||
Laurie C. Moore
|
74,700 | 36,004 | | 110,704 | ||||||||||||
Dr. W. Arthur Porter
|
70,200 | 36,004 | | 106,204 |
(1) | The annual stock award to directors was valued based on the market value per share of Common Stock at the close of business on the first business day following the 2010 annual meeting of stockholders. |
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Year Ended December 31 | ||||||||
2010 | 2009 | |||||||
Audit fees(1)
|
$ | 1,543,659 | $ | 1,601,468 | ||||
Audit-related fees(3)
|
| $ | 102,400 | |||||
Tax fees(2)
|
$ | 1,260,095 | $ | 83,381 | ||||
All other fees
|
| |
(1) | Fees for the audit of our annual financial statements, the audit of the effectiveness of our internal controls over financial reporting, review of financial statements included in our Quarterly Reports on Form 10-Q, and services that are normally provided by KPMG LLP in connection with statutory and regulatory filings or engagements for the fiscal years shown. | |
(2) | Fees for professional services rendered by KPMG LLP primarily for tax compliance, tax advice and tax planning. | |
(3) | Fees for professional services rendered by KPMG LLP for the convertible debt offering in 2009. |
30
31
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33
YOUR VOTE IS IMPORTANT. PLEASE VOTE TODAY. We encourage you to take advantage of Internet or telephone voting. Both are available 24 hours a day, 7 days a week. Internet and telephone voting is available through 11:59 PM Eastern Time the day prior to the shareholder meeting date. INTERNET http://www.proxyvoting.com/ste Use the Internet to vote your proxy. Have your proxy card in hand when you access the web site. STEWART INFORMATION OR SERVICES CORPORATION TELEPHONE 1-866-540-5760 Use any touch-tone telephone to vote your proxy. Have your proxy card in hand when you call. If you vote your proxy by Internet or by telephone, you do NOT need to mail back your proxy card. To vote by mail, mark, sign and date your proxy card and return it in the enclosed postage-paid envelope. Your Internet or telephone vote authorizes the named proxies to vote your shares in the same manner as if you marked, signed and returned your proxy card. 91023 FOLD AND DETACH HERE Please mark your votes as indicated in this example X FOR WITHHOLD *EXCEPTIONS 1. ELECTION OF DIRECTORS ALL FOR ALL FOR AGAINST ABSTAIN Nominees: 2. Approval of the compensation of Stewart Information Services 01 Catherine A. Allen Corporations named executive officers (Say-on-Pay). 02 Robert L. Clarke 03 Dr. E. Douglas Hodo EVERY EVERY 04 Laurie C. Moore EVERY TWO THREE YEAR YEARS YEARS ABSTAIN 05 Dr. W. Arthur Porter 3. Vote on the frequency of the Say-on-Pay vote. (INSTRUCTIONS: To withhold authority to vote for any individual nominee, mark the Exceptions box above and write that nominees name in the space provided below.) FOR AGAINST ABSTAIN *Exceptions 4. Ratification of the appointment of KPMG LLP as Stewart Information Services Corporations independent auditors for 2011. The undersigned acknowledges receipt of the Notice of Annual Meeting of Stockholders and of the Proxy Statement. Mark Here for Address Change RESTRICTED AREA SCAN LINE or Comments SEE REVERSE NOTE: Please sign as name appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. Signature Signature Date PRINT AUTHORIZATION (THIS BOXED AREA DOES NOT PRINT) To commence printing on this proxy card please sign, date and fax this card to: 212-269-1116 SIGNATURE: DATE: TIME: |
You can now access your Stewart Information Services Corporation account online. Access your Stewart Information Services Corporation account online via Investor ServiceDirect® (ISD). BNY Mellon Shareowner Services, the transfer agent for Stewart Information Services Corporation, now makes it easy and convenient to get current information on your shareholder account. View account status View payment history for dividends View certificate history Make address changes View book-entry information Obtain a duplicate 1099 tax form Visit us on the web at http://www.bnymellon.com/shareowner/equityaccess For Technical Assistance Call 1-877-978-7778 between 9am-7pm Monday-Friday Eastern Time Investor ServiceDirect® Available 24 hours per day, 7 days per week TOLL FREE NUMBER: 1-800-370-1163 Choose MLinkSM for fast, easy and secure 24/7 online access to your future proxy materials, investment plan statements, tax documents and more. Simply log on to Investor ServiceDirect® at www.bnymellon.com/shareowner/equityaccess where step-by-step instructions will prompt you through enrollment. Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Shareholders. The Proxy Statement and the 2010 Annual Report on Form 10-K are available at: http://www.stewart.com/2011AnnualMeeting FOLD AND DETACH HERE PROXY STEWART INFORMATION SERVICES CORPORATION PROXY VOTING INSTRUCTIONS ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 29, 2011 The undersigned appoints Ken Anderson, Jr. and E. Ashley Smith, and each of them, as proxies with full power of substitution and revocation, to vote, as designated on the reverse side hereof, all the Common Stock of Stewart Information Services Corporation which the undersigned has power to vote, with all powers which the undersigned would possess if personally present, at the annual meeting of stockholders thereof to be held on April 29, 2011, or at any adjournment thereof. Unless otherwise marked, this proxy will be voted FOR the election of the nominees named, FOR the approval of the compensation of Stewart Information Services Corporations named executive officers, FOR an advisory vote on the compensation of Stewart Information Services Corporations named executive officers every three years, and FOR ratification of the appointment of KPMG LLP as Stewart Information Services Corporations independent auditors for 2011. Address Change/Comments (Mark the corresponding box on the reverse side) BNY MELLON SHAREOWNER SERVICES P.O. BOX 3550 SOUTH HACKENSACK, NJ 07606-9250 RESTRICTED AREA SCAN LINE (Continued and to be marked, dated and signed, on the other side) 91023 RESTRICTED AREA SIGNATURE LINES |
YOUR VOTE IS IMPORTANT. PLEASE VOTE TODAY. We encourage you to take advantage of Internet or telephone voting. Both are available 24 hours a day, 7 days a week. Internet and telephone voting is available through 11:59 PM Eastern Time two days prior to the shareholder meeting date. STEWART INFORMATION SERVICES CORPORATION INTERNET http://www.proxyvoting.com/stc Use the Internet to vote your proxy. Have your proxy card in hand when you access the web site. OR TELEPHONE 1-866-540-5760 Use any touch-tone telephone to vote your proxy. Have your proxy card in hand when you call. If you vote your proxy by Internet or by telephone, you do NOT need to mail back your proxy card. To vote by mail, mark, sign and date your proxy card and return it in the enclosed postage-paid envelope. Your Internet or telephone vote authorizes the named proxies to vote your shares in the same manner as if you marked, signed and returned your proxy card. FOLD AND DETACH HERE Please mark your votes as indicated in this example X FOR WITHHOLD *EXCEPTIONS The undersigned, as a named fiduciary for voting purposes, hereby ALL FOR ALL FOR AGAINST ABSTAIN directs Wells Fargo Bank, N.A., as Trustee for the Companys 401(k) Salary Deferral Plan, to vote all shares of common stock of Stewart 1. ELECTION OF DIRECTORS Information Services Corporation allocated to my account as of March 1, 2. Approval of the compensation of 2011, as directed. IF NOT OTHERWISE SPECIFIED, the shares will be Stewart Information Services voted FOR each of the nominees, FOR the approval of the Nominees: Corporations named executive compensation of Stewart Information Services Corporations 01 Catherine A. Allen officers (Say-on-Pay). named executive officers, FOR an advisory vote on the 02 Robert L. Clarke EVERY EVERY compensation of Stewart Information Services Corporations EVERY TWO THREE named executive officers every three years, and FOR ratification 03 Dr. E. Douglas Hodo YEAR YEARS YEARS ABSTAIN of the appointment of KPMG LLP as Stewart Information Services 04 Laurie C. Moore 05 Dr. W. Arthur Porter Corporations independent auditors for 2011. As noted in the 3. Vote on the frequency accompanying proxy statement, receipt of which is hereby acknowledged, of the Say-on-Pay vote. if any of the listed nominees becomes unavailable for any reason and (INSTRUCTIONS: To withhold authority to vote for any authority to vote for election of directors is not withheld, the shares will individual nominee, mark the Exceptions box above and be voted for another nominee or other nominees to be selected by the write that nominees name in the space provided below.) Nominating and Corporate Governance Commttee. I understand that I am to mail this confidential voting instruction card to *Exceptions FOR AGAINST ABSTAIN BNY Mellon Shareowner Services acting as tabulation agent, or vote 4. Ratification of the appointment of by Internet or telephone as described on proxy, and that my instructions KPMG LLP as Stewart Information must be received by BNY Mellon Shareowner Services no later than Services Corporations independent 11:59 p.m. Eastern Time two days prior to the annual meeting day. If my auditors for 2011. instructions are not received by that date, or if the voting instructions are invalid because this form is not properly signed and dated, the shares in my account will be voted in accordance with the terms of the Plan document. I acknowledge receipt of the Notice of Annual Meeting of Stockholders and of the Proxy Statement. Mark Here for Address Change RESTRICTED AREA SCAN LINE or Comments SEE REVERSE NOTE: Please sign as name appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. Signature Signature Date PRINT AUTHORIZATION (THIS BOXED AREA DOES NOT PRINT) To commence printing on this proxy card please sign, date and fax this card to: 212-269-1116 SIGNATURE: DATE: TIME: |
Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Shareholders. The Proxy Statement and the 2010 Annual Report on Form 10-K are available at: http://www.stewart.com/2011AnnualMeeting FOLD AND DETACH HERE PROXY STEWART INFORMATION SERVICES CORPORATION PROXY VOTING INSTRUCTIONS ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 29, 2011 The undersigned appoints Wells Fargo Bank, N.A., as Trustee for the Companys 401(k) Salary Deferral Plan, as proxy with full power of substitution and revocation, to vote, as designated on the reverse side hereof, all the Common Stock of Stewart Information Services Corporation which the undersigned has power to vote, with all powers which the undersigned would possess if personally present, at the annual meeting of stockholders thereof to be held on April 29, 2011, or at any adjournment thereof. Unless otherwise marked, this proxy will be voted FOR the election of the nominees named, FOR the approval of the compensation of Stewart Information Services Corporations named executive officers, FOR an advisory vote on the compensation of Stewart Information Services Corporations named executive officers every three years, and FOR ratification of the appointment of KPMG LLP as Stewart Information Services Corporations independent auditors for 2011. Address Change/Comments (Mark the corresponding box on the reverse side) BNY MELLON SHAREOWNER SERVICES P.O. BOX 3550 SOUTH HACKENSACK, NJ 07606-9250 RESTRICTED AREA SCAN LINE (Continued and to be marked, dated and signed, on the other side) 91019-bl RESTRICTED AREA SIGNATURE LINES |
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