Humility & accuracy r weighted the same? Who cares about humility? I just want accuracy!

In response to Brian, I joined the board to post my question. This board is fairly active & I was curious to find if others received a similar call. The item also seems to be a bit shrouded in mystery.

While I have a fair number of shares I am not a material shareholder. I find it odd that management would solicit support by randomly calling shareholders for an item to be voted on so my first thought is it's unpopular with shareholders but management wants it passed. While an earlier post suggests how special shares could be useful in retaining employees they can also be abused. Eg multiple voting shares, non-dilution shares etc. Unusual share structures have been used by management to control companies & my understanding of this company is that current ownership by senior management is negligible. As I normally only get the ballots & not the printed matter i tried to get more info from their web site but couldnt find anything. So does anybody here have a good understanding of this agenda item or is it all speculation? Are there limits to these special shares or are we allowing the creation of any type of share to be distributed to whomever whenever?

A few days ago I had an unsolicited message to call CLL. Called them back & it seems management was trying to drum up support for a shareholder vote in the upcoming meeting. First 2 items fairly straight forward, eg support for board of directors & use of accounting firm. They were more interested in the third item which includes the creation of special share classes. When I balked at that & asked why they were needed they insisted that it was the only way they could retain employees. Apparently these employees have been trained by CLL for 2 years, & am I willing to risk these employees leaveing etc etc. I suggested warrants, options or more cash but apparently these alternatives are inadquate. Suffice it to say I found the conversation extremely strange.

Anybody else with a similar experience?

Can anybody shed any light on the special share classes? My present inclination is to vote "no" on item 3 unless somebody comes up with a good reason to vote yes.

Could it be the possibility of these special shares which are causing the stock price to tank?