Mobile Mini Adopts Majority Voting Standard for Election of Directors and Other Shareholder Friendly Corporate Governance Policies Business Wire TEMPE, Ariz. -- March 11, 2014 Mobile Mini, Inc. (Nasdaq GS:MINI) today announced that its Board of Directors has amended the Company's bylaws to adopt a majority voting standard for the election of Directors. The new standard is effective immediately and will apply to all future elections of Directors. The Company's majority vote standard requires each nominee for election to the Board to receive a majority of the votes cast in order to be elected to the Board. Previously, Directors were elected under a plurality vote standard, in which candidates receiving the most votes were elected, regardless of whether those votes constituted a majority. Plurality voting still will apply in contested elections, where the number of Director candidates exceeds the number of available Director positions. Additionally, the Board has adopted policies that it believes further enhance the Company’s corporate governance standards and are aligned with the interests of shareholders. These policies will take effect immediately and are outlined as follows: *Executive Compensation Clawback Policy – The Board adopted a policy that will enable the Company to reclaim previously awarded compensation from executives who are found to have engaged in willful fraud or the intentional manipulation of performance measures. *Director & Officer Stock Ownership Requirements – The Board increased the stock ownership requirements for its Directors to 5 times annual cash compensation and adopted new stock ownership requirements for its corporate officers. These guidelines require the holding of vested equity having a value of 5 times base salary for the CEO, 3 times base salary for the CEO’s direct reports and 1 times base salary for other officers of the Company. *Auditor Employment Restriction – The Board adopted a policy restricting the hiring of former employees of the Company’s outside auditor. Erik Olsson, Mobile Mini’s President & CEO, said, “As we endeavor to implement best practices throughout our operations in order to drive the performance of our business, it is only fitting that we also have corporate governance practices in place which are considered best in class. We believe that these new policies further enhance our corporate governance standards and are consistent with our commitment to maximizing value for Mobile Mini’s shareholders.” About Mobile Mini Mobile Mini, Inc. is the world’s leading provider of portable storage solutions. Mobile Mini is included on the Russell 2000® and 3000® Indexes and the S&P Small Cap Index. For more information visit www.mobilemini.com. Contact: Mobile Mini, Inc. Mark Funk, 480-477-0241 Executive VP & CFO www.mobilemini.com or INVESTOR RELATIONS COUNSEL: The Equity Group Inc. Fred Buonocore, 212-836-9607 or Linda Latman, 212-836-9609
Mobile Mini Adopts Majority Voting Standard for Election of Directors and Other Shareholder Friendly Corporate Governance
Press spacebar to pause and continue. Press esc to stop.