JUNE 13, 2013
IDCC ASM Meeting – 11:00 a.m.
Crowne Plaza Hotel
Claymont, Delaware
Capacity – 96 chairs
Attendance
Total 48
Comp Repres -16
Auditors -2
Outside Counsel -2
Shareholders 28 (lowest I’ve seen since I’ve been attending)
Wilmington I
Business Meeting:
41,000,150,000 shares outstanding
Proposition I – Election of Eight Directors
Rounded 000
Clontz -
For – 22,000,749,000 – 97%
Against – 494,000
Abstain – 209,000
Amelio -
For - 22,000,743,000 – 97%
Against – 500,000
Abstain – 220,000
Belk -
For – 22,000,744,000 – 97%
Against – 152,000
Abstain – 556,000
Kamins -
For – 22,000,460,000 – 96%
Against – 455,000
Abstain – 537,000
Kritzmacher -
For – 22,000,729,000 – 97%
Against – 665,000
Abstain – 559,000
Merritt -
For – 22,000,560,000 – 96%
Against – 356,000
Abstain – 537,000
Rankin -
For – 22,000,460,000 – 96%
Against – 446,000
Abstain – 552,000
Roath -
For – 22,000.336,000 – 95%
Against – 896,000
Abstain – 222,000
Proposition II –Approval of Executive compensation
For – 21,986,000-94%%
Against – 855,000
Abstain – 611,000
Proposition III –Approval of auditors
For – 36,200,000
Against – 450,000
Abstain – 537,000
Clontz Presentation: see slide 3 & 4 on IHUB
Merritt Presentation: see slides 5-18 on IHUB (paraphrased)
Success to date is the result of our R & D and subsequent licensing which is in IDCC’s DNA – a culture of innovation not looking to what phone is sold next week but to the next great service to get into the standards is down the road. The foot print and execution may change but not the DNA. We have spent $650,000,000 in RND in the last ten years.
Tech companies have typically gone through a transition from hardware to software to service. The mobile space is moving through that transition. We have achieved a lot of growth through 3G. We are now extending that growth to 4G UMTS (WCDMA) and LTE. As shown on the chart we have extended 4G to 10 companies. Hardware has dominated up until now but software and service are becoming more important. This presents a great opportunity for us and is where we are aiming as the mobile space is a massive market that does everything big. IDCC DNA is what has enabled the business model for companies like Facebook. We bring new R&D to add to them on a continuing basis.
Our new management structure enables us to take advantage of this R&D and move it to market by licensing but also our solutions group (which is very nimble) leverages it. We have very big plans for it and a diversified approach not only to compliment licensing but also drive it as a separate company.
SONY is an example of this approach. They needed a license for their interest for M2M. We have a large segment of patents and IPR management skills that facilitated this partnership which was executed by our Solutions Group.
We are driving expansion in New Areas by Moving Up the Layers – slide 17
Our management team is a different team than we have had before and are leaders in the industry.
BILL MERRITT –
I have been with the company 16 years and I am more excited than ever!
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