Mack Cali Announces Results of Annual Meeting of Stockholders

PRNewswire 18-Jun-2019 8:00 AM

JERSEY CITY, N.J., June 18, 2019 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE:CLI) ("the Company" or "Mack-Cali") today announced that, based on the final, certified vote count provided by the independent Inspector of Election following the Company's 2019 Annual Meeting of Stockholders (the "Annual Meeting"), Mack-Cali stockholders voted to elect William L. Mack, Alan R. Batkin, Alan S. Bernikow, Frederic Cumenal, MaryAnne Gilmartin, Nori Gerardo Lietz, Michael J. DeMarco, Lisa Myers, Laura Pomerantz, Irvin D. Reid and Rebecca Robertson to the Company's Board of Directors.  

Mack-Cali stockholders also approved, on an advisory basis, the compensation of the Company's named executive officers and the proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2019.

Additionally, as previously announced, the Mack-Cali Board adopted the following resolutions to advance its ongoing commitment to enhancing Mack-Cali's corporate governance:

• opting out of Maryland's unsolicited takeovers statute ("MUTA"), which permitted the Mack-Cali Board of Directors to re-classify itself without a shareholder vote, by Board resolution; and
• rescinding certain provisions of the so-called Mack Agreement, which enabled the Mack family to nominate up to three directors to the Mack-Cali Board.

William L. Mack, Chairman of the Mack-Cali Board of Directors, commented, "We thank the Company's stockholders for engaging with the Mack-Cali Board and management team and providing constructive feedback.  We welcome the newly elected directors and look forward to working collaboratively with them to create value for our stockholders."

Michael J. DeMarco, Chief Executive Officer of Mack-Cali, added, "The changes adopted today, in addition to the recent initiatives taken by the Mack-Cali Board, demonstrate our ongoing commitment to corporate governance best practices.  We will maintain an open and constructive dialogue with our stockholders, as we continue to advance Mack-Cali's Waterfront Strategy and ongoing portfolio transformation.  The Company's management team looks forward to working with the entire Board, including our newly elected directors, to build a stronger and more focused company that drives long-term value creation for stockholders."

The Company will file with the Securities and Exchange Commission a Current Report on Form 8-K reporting the final voting results, as certified by the independent Inspector of Elections.

About Mack-Cali Realty Corporation
One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout New Jersey.  Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

A fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

For more information on Mack-Cali Realty Corporation and its properties, visit www.mack-cali.com.

Forward-Looking Statements
Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "potential," "projected," "should," "expect," "anticipate," "estimate," "target," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise, except as required under applicable law.

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SOURCE Mack-Cali Realty Corporation