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Hallmark Financial shareholders to consider proposal on majority voting in uncontested director elections

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Hallmark Financial shareholders to consider proposal on majority voting in uncontested director elections

HallmarkFinancial Services Inc. shareholders will consider a shareholderproposal regarding majority voting in uncontested director elections.

CaliforniaState Teachers' Retirement System is proposing to amend thecompany's articles of incorporation and/or bylaws to provide that directornominees be elected by the affirmative vote of the majority of votes cast at anannual shareholders meeting, with a plurality vote standard retained forcontested director elections, that is, when the number of director nomineesexceeds the number of board seats. CalSTRS is beneficial owner of more than$2,000 in market value of Hallmark Financial common stock.

The board has determined to remain neutral with respect tothe proposal and made no recommendation regarding it, according to a May 6notice to shareholders.

Shareholders of record as of April 8 are entitled to vote atthe annual meeting on June 3.