Spring 2012 More Stock Transfer Agent Developments as 2012 Unfolds The U.S. stock transfer business had an eventful winter that we felt we should summarize for our readers.   The biggest news was approval of the BNY Mellon and Computershare merger by the U.S. Department of Justice on November 8, 2011, and the signing of the actual merger agreement on December 30, 2011.   This will give the "New Computershare (USA)" approx-imately one third of the listed public companies and two thirds of the registered shareholders in Corporate America. View Full Article      Winter 2012 Cost Basis for Stock Transfer Agents – A Year Later January 1, 2012 marked the first full year stock transfer agents in the U.S. had to capture additional "cost basis" information on shareholder transactions and related record keeping pursuant to Section 403 of H.R. 1424, known as the Emergency Economic Stabilization Act of 2008.   It was a challenge to implement in 2010 and 2011, and will be a continuing compliance challenge in 2012 and beyond. View Full Article Shareholder Service Solutions, Inc. "Thank you very much for your Shareholder Services Check-Up®.   It was a very useful report for not only did it validate what we thought was a good stock transfer contract, it also helped us understand where we might realize some further savings.   I look forward to working with you again in the future." Claire Williamson Manager, Shareholder Services Pepco Holdings, Inc. What Does a Stock Transfer Agent Do? We have said a lot of things about the stock transfer industry on this website over the past five years, but have never summa-rized for our readers what a stock transfer agent actually does.   We do so here, citing both the widely known and not-so-widely known functions. Read More Ballot vs. Proxy While these two terms are often used interchangeably at annual or special stockholder meetings, they are fundamentally different.   A ballot is a document through which a stockholder can directly vote his or her shares at the meeting.   A proxy is a document through which a stockholder can vote his or her shares before the meeting, and thus not have to attend – by having the company’s “proxy committee” (made up of a small number of senior company executives) vote the shares according to the stockholder’s instructions.   At the meeting the proxy committee votes such shares via “ballot of appointed proxies.”   A stockholder owning stock beneficially through a broker can bring a “legal proxy” to the meeting issued by the broker, empowering the stockholder to vote directly there – via ballot. Previous Terms of the Month

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