Sunrise Settles Litigation Regarding Its 2007 Annual Meeting

Category:

Friday, October 12, 2007 8:08 am EDT

Dateline:

MCLEAN, Va.

Public Company Information:

NYSE:
SRZ

Sunrise Senior Living, Inc. (NYSE: SRZ) today announced that it had settled certain litigation previously filed by SEIU Master Trust regarding Sunrise's 2007 annual meeting of stockholders to be held at 9:00 a.m. on Tuesday, October 16, 2007 at the Hilton McLean Tysons Corner, 7920 Jones Branch Drive, McLean, Virginia. As reflected in the previously disclosed Stipulated Final Order entered by the Delaware Chancery Court on September 5, 2007, as modified by the Stipulated Final Order entered by the Delaware Chancery Court on October 10, 2007:

  • the shares of stock represented at the 2007 annual meeting, either in person or by proxy, and entitled to vote thereat, will constitute a quorum for the purpose of the 2007 annual meeting, notwithstanding any provision in Sunrise's certificate of incorporation or bylaws to the contrary;
  • at the 2007 annual meeting, Paul J. Klaassen, Craig R. Callen and Lynn Krominga will stand for election to the director class that will next stand for election in 2010;
  • no other nominees will stand for election at the 2007 annual meeting; and
  • no business will be conducted at the 2007 annual meeting other than (a) the election of directors, (b) consideration of a shareholder proposal requesting that the board of directors take the necessary steps, in accordance with applicable state law, to declassify the board of directors so that all directors are elected annually and (c) consideration of a shareholder proposal that the board of directors adopt a policy whereby, in the event of a restatement of financial results, the board will review all bonuses and other awards that were made to senior executives on the basis of having met or exceeded performance goals during the period of the restatement and will, to the maximum extent feasible, recoup for the benefit of Sunrise all such bonuses or awards to the extent that performance goals were not achieved.

About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of June 30, 2007, Sunrise operated 453 communities in the United States, Canada, Germany and the United Kingdom, with a combined capacity for more than 53,000 residents. At quarter end, Sunrise also had 38 communities under construction in these countries with a combined capacity for 6,000 additional residents. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing, rehabilitative and hospice care. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit https://www.sunriseseniorliving.com/.

First Call Analyst:
FCMN Contact: Lisa.mayr@sunriseseniorliving.com

 

Contact:

Sunrise Senior Living, Inc.
Lisa Mayr
Vice President, Investor Relations and Capital Market
+1-703-744-1787

Sunrise Senior Living Tweets

  • If you or a senior you care for is one of the 20 million Americans who experience chronic pain, check out our blog… https://t.co/fjwJBaIa8l15 hours 47 min ago
  • When a family member has Alzheimer’s disease, the journey can be long and emotional. Learn about Academy Award-winn… https://t.co/17ROKpbbzO2 days 1 hour ago
  • "Anna Del Priore — who is one month shy of turning 108, was born the year the Titanic sank and survived a case of t… https://t.co/MaxyA2mlzY3 days 1 hour ago
  • Residents of Sunrise at Montgomery Village, MD, have brought summer fun right to their rooms this season. One resid… https://t.co/RtuvcZU5No4 days 21 hours ago
  • Ken Hoffman is a U.S. veteran and former police officer who served his country for several years in the Army Air Co… https://t.co/N33D6kJoNY6 days 20 hours ago
Cookie Settings