Oracle mulls vote on open source at upcoming shareholders meeting II
November 10, 2007 Leave a comment
As a follow up to this post, Jonas just informed me that 127,717,018 shares voted in favor of the proposal. From his email:
In the end, we received the support of 127,717,018 shares. That is 3.58% of the vote and approximately $2.8 billion in assets. As I’ve mentioned before, taking into account Larry Ellison’s ownership that percentage can be viewed a bit differently. That number goes up to 4.99% if you remove his approximately 1 billion shares from the calculation.
While 3.58% may not seem like a significant number, it is a very respectable vote for a first year issue that nobody ever heard of and with no advocacy budget. These are the kinds of votes climate change proposals received years ago and now they pull in up to 30%. That is not to say that FLOSS is the same kind of issue as global warming, but it gives you an idea of how support often starts off in the single digits. It is also significant that we broke the 3% threshold, because under SEC rules we are now entitled to bring the proposal forward to the 2008 AGM if we wish.
3.58% may not sound like a big number, but as Jonas points out, since Ellison and institutional investors voted against the proposal it is a significant number. One hundred million votes is more than I’d have anticipated (although being new to this kind of thing my expectations don’t mean much), but it’s great to see the issue getting this kind of support right out of the gate.
Matt is also blogging about this here.