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Hatteras Financial Corp. Amends Corporate Governance Guidelines To Adopt Majority Voting Policy

Stocks in this article: HTS

Hatteras Financial Corp. (NYSE:HTS) (the “Company”) today announced that its Board of Directors (the “Board”) has voted to amend the Company’s Corporate Governance Guidelines to implement a majority voting policy with respect to uncontested director elections. The amendments will take effect immediately.

The majority voting policy will be applied in the event that any nominee for director receives more “withheld” votes for his or her election than “for” votes. In such a situation, the director will be required to submit his or her resignation to the Board. The Company’s amended Corporate Governance Guidelines specifically state that:

  • the Board will act on the resignation offer within 90 days following certification of the voting results;
  • the Board will promptly disclose via a Form 8-K furnished to the Securities and Exchange Commission its decision-making process and decision regarding whether to accept the resignation offer or, if applicable, the reason(s) for rejecting the offer; and
  • any director who tenders his or her resignation shall not participate in any consideration by the Board of the resignation offer.

The full text of the Corporate Governance Guidelines and other information about the Company’s corporate governance policies are available in the Investor Relations section of the Company’s website at www.hatfin.com.

About Hatteras Financial Corp.

Hatteras Financial Corp. is a real estate investment trust formed in 2007 to invest in single-family residential mortgage pass-through securities guaranteed or issued by U.S. Government agencies or U.S. Government-sponsored entities, such as Fannie Mae, Freddie Mac or Ginnie Mae. Based in Winston-Salem, N.C., the Company is managed and advised by Atlantic Capital Advisors LLC. The Company is a component of the Russell 1000® index.



Copyright Business Wire 2010

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