RESTON, Va., May 5 /PRNewswire-FirstCall/ -- NVR, Inc. (NYSE:NVR), one of the nation's largest homebuilding and mortgage banking companies, today announced the results from the Company's 2009 annual meeting. Regarding management's proposals, Timothy M. Donahue, William A. Moran and Alfred E. Festa were each elected to the Board for a three year term, W. Grady Rosier was elected to the Board for a two year term and the shareholders approved the retention of KPMG LLP as the Company's independent accounting firm for 2009. The shareholder proponent who had submitted a proposal to impose a post-employment holding requirement on equity awards to our named executive officers submitted a letter to the Company dated April 29, 2009 withdrawing the proposal and did not appear at the annual meeting to present the proposal for a shareholder vote. Had the proposal been presented at the annual meeting, management held proxies to vote 3,435,721 shares, or approximately 70% of the shares voting on the proposal by proxy, "against" the shareholder proposal. DATASOURCE: NVR, Inc.
CONTACT: Dan Malzahn of NVR, Inc., Office, +1-703-956-4204 Web Site: http://www.nvrinc.com/
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