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Shareholders Annual Meeting

According to section 1 of the Corporate Bylaws of TKC, shareholders are to gather for their annual meeting in June. These meetings are primarily rotated through the villages of Georgetown, Napaimut, Sleetmute, Crooked Creek, Chuathbaluk, Aniak, Lower Kalskag, Upper Kalsag and Red Devil. The Board however does have some discretion in choosing the location of a meeting, as well as the date that it is to occur.

Date of Record
Many occasions necessitate a precise record of how many shareholders TKC has, and who these individuals are. This record is used for many purposes such as, notification of shareholders, determining quorum and voting at an annual meeting, and paying shareholders their dividends. In obtaining this record the Board of Directors can close the stock transfer books for a stated period, no longer than 60 days. In lieu of closing the stock transfer books, the board may fix, in advance, a date as the record date for the determination of shareholders.

Voting by Proxy
Shareholders that are unable to attend an annual meeting in person may vote by proxy. Proxies are mailed to all shareholders entitled to vote at least 60 days prior to a meeting. They shall be appointed by a document in writing, signed by such shareholder or his authorized attorney-in-fact, and dated no more than 11 months prior to the meeting. A shareholder under the age of 18 shall not be entitled to cast votes directly at meetings of shareholders but may be represented by proxy by a parent or legal guardian. Proxies may be exercised by an Alaska Native as defined in the most recently amended version of the Alaska Native Claims Settlement Act.

Each outstanding share of Settlement Common Stock is entitled to one vote on each matter submitted for vote at a shareholder meeting. However, shares held by persons not defined as Alaska Native, (as defined in the most recently amended version of the ANCSA) are not entitled to a vote. In the election of directors, the number of votes a shareholder has is determined by multiplying the number of shares they own by the numbers of directorships in contention. This means that there are a number of ways a shareholder could distribute their votes. For example, shareholders could use as many votes as they have shares to vote for each seat up for election, or they could use all of their votes for a candidate running for one seat. (TKC Bylaws, Bylaw 1, Section 5).

Schedule of Board Meetings

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