secwatch / observer

Shareholder Votes

Results of shareholder votes disclosed under 8-K Item 5.07.

8-K items 5.07 JSON
EPAM EPAM Systems, Inc.

EPAM Systems, Inc. shareholders approved Approval of an Amendment to the Fourth A&R Charter to Enable Adoption of the Right to Call a Special Meeting at the 2026-05-26 meeting.

“Approval of an Amendment to the Fourth A&R Charter to Enable Adoption of the Right to Call a Special Meeting The Company’s stockholders voted to approve an amendment to the Fourth A&R Charter to enable adoption of the right of stockholders to call a special meeting. Votes cast were as follows: Votes For Votes Against Abstentions Broker Non-Votes 42,309,922 2,339,440 1,434,247 3,732,360”
EPAM EPAM Systems, Inc.

EPAM Systems, Inc. shareholders approved Election of Directors at the 2026-05-26 meeting.

“Election of Directors The Company’s stockholders voted to elect Balazs Fejes, Eugene Roman, Jill Smart, and Ronald Vargo to serve as Class II directors, holding office until the annual meeting of stockholders in 2027, or until their successors are elected and qualified. Votes cast were as follows: Nominee Votes For Votes Against Abstentions Broker Non-Votes Balazs Fejes 45,500,634 565,330 17,645 3,732,360 Eugene Roman 45,321,803 715,905 45,901 3,732,360 Jill Smart 44,422,620 1,574,090 86,899 3,732,360 Ronald Vargo 43,434,507 2,588,200 60,902 3,732,360”
CDW CDW Corp

CDW Corp shareholders rejected Stockholder Proposal Regarding Independent Board Chair Requirements at the 2026-05-26 meeting.

“Proposal 5 – Stockholder Proposal Regarding Independent Board Chair Requirements : The stockholders did not approve a stockholder proposal regarding independent board chair requirements, based on the following voting results: Votes For Votes Against Abstentions Broker Non-Votes 48,696,005 65,473,510 222,594 6,520,683”
CDW CDW Corp

CDW Corp shareholders approved Approval of the Amendment to the Company's Certificate of Incorporation to Permit Stockholder Action by Written Consent at the 2026-05-26 meeting.

“Proposal 4 — Approval of the Amendment to the Company’s Certificate of Incorporation to Permit Stockholder Action by Written Consent : The stockholders approved the amendment to the Company’s Certificate of Incorporation to permit stockholder action by written consent, based on the following voting results: Votes For Votes Against Abstentions Broker Non-Votes 112,805,919 1,493,062 93,128 6,520,683”
CDW CDW Corp

CDW Corp shareholders approved Ratification of Selection of Independent Registered Public Accounting Firm at the 2026-05-26 meeting.

“Proposal 3 — Ratification of Selection of Independent Registered Public Accounting Firm : The stockholders ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026, based on the following voting results: Votes For Votes Against Abstentions Broker Non-Votes 118,479,884 2,338,014 94,894 0”
CDW CDW Corp

CDW Corp shareholders approved Advisory Vote to Approve Named Executive Officer Compensation at the 2026-05-26 meeting.

“Proposal 2 — Advisory Vote to Approve Named Executive Officer Compensation : The stockholders approved, on an advisory basis, the compensation of the Company’s named executive officers, based on the following voting results: Votes For Votes Against Abstentions Broker Non-Votes 104,077,745 10,143,765 170,599 6,520,683”
CDW CDW Corp

CDW Corp shareholders approved Election of nine directors with terms expiring at the Company's 2027 Annual Meeting of Stockholders at the 2026-05-26 meeting.

“Item 5.07 Submission of Matters to a Vote of Security Holders. The final voting results for each of the matters submitted to a stockholder vote at the Annual Meeting are set forth below. Proposal 1 — Election of Directors : The stockholders elected the nine directors listed below with terms expiring at the Company’s 2027 Annual Meeting of Stockholders, subject to the election and qualification of their successors, based on the following voting results: Votes For Votes Against Abstentions Broker Non-Votes Name of Nominee Virginia C. Addicott 111,342,104 1,437,734 1,612,271 6,520,683 James A. Bell 110,869,434 3,448,760 73,915 6,520,683 Lynda M. Clarizio 112,671,059 1,658,785 62,265 6,520,683 Anthony R. Foxx 113,870,605 447,996 73,508 6,520,683 Kelly J. Grier 113,077,672 1,242,663 71,774 6,520,683 Marc E. Jones 113,923,298 394,648 74,163 6,520,683 Christine A. Leahy 109,520,767 4,444,194 427,148 6,520,683 David W. Nelms 109,642,855 4,687,761 61,493 6,520,683 Joseph R. Swedish 112,612,408”
SPRB SPRUCE BIOSCIENCES, INC.

SPRUCE BIOSCIENCES, INC. shareholders approved Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation at the 2026-05-21 meeting.

“Proposal 4: Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation. The Company’s stockholders indicated, on an advisory basis, their preference for the Company to hold a stockholder advisory vote on the compensation of the Company’s named executive officers every year.”
SPRB SPRUCE BIOSCIENCES, INC.

SPRUCE BIOSCIENCES, INC. shareholders approved Advisory Vote on the Compensation of the Company’s Named Executive Officers at the 2026-05-21 meeting.

“Proposal 3: Advisory Vote on the Compensation of the Company’s Named Executive Officers. The Company’s stockholders approved, on an advisory basis, the compensation of the Company’s named executive officers, as disclosed in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on April 9, 2026.”
SPRB SPRUCE BIOSCIENCES, INC.

SPRUCE BIOSCIENCES, INC. shareholders approved Ratification of Selection of Independent Registered Public Accounting Firm at the 2026-05-21 meeting.

“Proposal 2: Ratification of Selection of Independent Registered Public Accounting Firm. The Company’s stockholders ratified the selection by the Audit Committee of the Board of Directors of BDO USA, P.C. as the independent registered public accounting firm of the Company for the Company’s fiscal year ending December 31, 2026.”
SPRB SPRUCE BIOSCIENCES, INC.

SPRUCE BIOSCIENCES, INC. shareholders approved Election of Class III Directors at the 2026-05-21 meeting.

“Proposal 1: Election of Class III Directors. The Company’s stockholders elected each of the three nominees named below to serve as Class III directors of the Company until the Company’s 2029 Annual Meeting of Stockholders and until his or her successor is duly elected and qualified, or until his or her earlier death, resignation or removal.”
APEI AMERICAN PUBLIC EDUCATION INC

AMERICAN PUBLIC EDUCATION INC shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2026-05-22 meeting.

“Proposal No. 3 – Ratification of Appointment of Independent Registered Public Accounting Firm. The Company’s stockholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The votes regarding this proposal were as follows: Votes For Votes Against Abstentions 16,381,313 56,296 22,832”
APEI AMERICAN PUBLIC EDUCATION INC

AMERICAN PUBLIC EDUCATION INC shareholders approved Advisory Vote on the Compensation Paid to Our Named Executive Officers at the 2026-05-22 meeting.

“Proposal No. 2 – Advisory Vote on the Compensation Paid to Our Named Executive Officers. The Company’s stockholders approved, by a non-binding advisory vote, the compensation paid to the Company’s named executive officers. The votes regarding this proposal were as follows: Votes For Votes Against Abstentions Broker Non-Votes 13,019,893 188,783 1,428,993 1,822,772”
APEI AMERICAN PUBLIC EDUCATION INC

AMERICAN PUBLIC EDUCATION INC shareholders approved Election of Directors at the 2026-05-22 meeting.

“Proposal No. 1 – Election of Directors. The Company’s stockholders elected the following persons, who were listed in the Proxy Statement, to the Board to hold office for a term expiring at the 2027 Annual Meeting of Stockholders, and until each such person’s successor is elected and qualified or until his or her earlier death, resignation or removal: Votes For Votes Against Abstentions Broker Non-Votes Granetta B. Blevins 14,355,995 276,830 4,844 1,822,772 Michael D. Braner 14,523,526 111,903 2,240 1,822,772 Anna M. Fabrega 14,522,513 112,903 2,253 1,822,772 Daniel S. Pianko 14,404,515 229,419 3,735 1,822,772 Angela K. Selden 14,584,849 50,567 2,253 1,822,772 Richard J. Statuto 14,401,329 229,326 7,014 1,822,772”
LH LABCORP HOLDINGS INC.

LABCORP HOLDINGS INC. shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026 at the 2026-12-31 meeting.

“Proposal 3. The Company’s shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026.”
LH LABCORP HOLDINGS INC.

LABCORP HOLDINGS INC. shareholders approved Advisory (non-binding) vote on the compensation of the Company’s named executive officers.

“Proposal 2. The Company’s shareholders approved in an advisory (non-binding) vote, the compensation of the Company’s named executive officers.”
LH LABCORP HOLDINGS INC.

LABCORP HOLDINGS INC. shareholders approved Election of Directors to the Board of Directors for a term expiring at the 2027 Annual Meeting.

“Proposal 1. The Company’s shareholders elected the following persons, who were listed in the Proxy Statement, to the Board of Directors of the Company (the “Board”) to hold office for the term expiring at the 2027 Annual Meeting of Shareholders or until their successors are elected and qualified or until their earlier death, resignation, or removal:”
EEX Emerald Holding, Inc.

Emerald Holding, Inc. shareholders approved Non-binding advisory vote to approve the frequency of future advisory votes on executive compensation at the 2026-05-21 meeting.

“Proposal Four: Non-Binding Advisory Vote to Approve the Frequency of Future Advisory Votes on Executive Compensation Three Years 184,796,707 Two Years 8,322 One Year 5,154,137 Abstain 11,337 Broker Non-Votes 4,252,219”
EEX Emerald Holding, Inc.

Emerald Holding, Inc. shareholders approved Non-binding advisory vote to approve the compensation of our named executive officers at the 2026-05-21 meeting.

“Proposal Three: Non-Binding Advisory Vote to Approve the Compensation of our Named Executive Officers For 189,521,520 Against 437,532 Abstain 11,451 Broker Non-Votes 4,252,219”
EEX Emerald Holding, Inc.

Emerald Holding, Inc. shareholders approved Ratification of the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2026 at the 2026-05-21 meeting.

“Proposal Two: Ratification of the selection of PricewaterhouseCoopers LLP as the Company's Independent Registered Public Accounting Firm for the Current Fiscal Year For 194,198,308 Against 3,635 Abstain 20,779 Broker Non-Votes —”
EEX Emerald Holding, Inc.

Emerald Holding, Inc. shareholders approved Re-election of Michael Alicea, David Levin and Emmanuelle Skala as Class III directors at the 2026-05-21 meeting.

“Proposal One: Re-Election of Class III Directors Nominees For Withheld Broker Non-Votes Michael Alicea 188,985,694 984,809 4,252,219 David Levin 189,840,037 130,466 4,252,219 Emmanuelle Skala 186,817,301 3,153,202 4,252,219”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Adjournment proposal to solicit additional proxies if needed at the 2026-05-26 meeting.

“The Company’s stockholders approved a proposal to adjourn the Annual Meeting, if necessary, to solicit additional proxies if there were insufficient votes at the time of the Annual Meeting to approve Proposals Four, Five, Six, or Seven.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Amendment to Certificate of Incorporation to effect reverse stock split at discretion of Board at the 2026-05-26 meeting.

“The Company’s stockholders approved an amendment to our Certificate of Incorporation to, at the discretion of the Board, effect a reverse stock split of our outstanding shares of Common Stock, at a ratio, ranging from one-for-three (1:3) to one-for-ten (1:10), with the exact ratio to be set within that range at the discretion of our Board of Directors without further approval or authorization of our stockholders.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Nasdaq Proposal II – approval of issuance of shares underlying warrants under private placement securities purchase agreement at the 2026-05-26 meeting.

“The Company’s stockholders approved a proposal (“Nasdaq Proposal II”), for purposes of Nasdaq listing rules 5635(c) and (d), of the issuance of shares of our common stock underlying the common stock purchase warrants issued by us pursuant to the terms of that certain private placement securities purchase agreement, dated November 5, 2025.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Nasdaq Proposal I – approval of issuance of shares underlying warrants under note purchase agreements at the 2026-05-26 meeting.

“The Company’s stockholders approved a proposal (“Nasdaq Proposal I”), for purposes of Nasdaq listing rule 5635(d), related to the issuance of shares of our common stock underlying the common stock purchase warrants issued by us pursuant to the terms of note purchase agreements, dated as of September 11, 2025 and September 29, 2025 in amounts that may equal or exceed 20% of our common stock outstanding.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Amendment to Smith Micro Software, Inc. Amended and Restated Omnibus Equity Incentive Plan at the 2026-05-26 meeting.

“Stockholders approved an amendment to the Smith Micro Software, Inc. Amended and Restated Omnibus Equity Incentive Plan.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Ratification of SingerLewak LLP as independent registered public accounting firm at the 2026-05-26 meeting.

“Stockholders ratified the appointment of SingerLewak LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Non-binding advisory vote on executive compensation at the 2026-05-26 meeting.

“Stockholders approved, on a non-binding advisory basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.”
SMSI SMITH MICRO SOFTWARE, INC.

SMITH MICRO SOFTWARE, INC. shareholders approved Election of directors at the 2026-05-26 meeting.

“Stockholders elected two directors to the Company’s Board of Directors to hold office until the Company’s 2029 annual meeting of stockholders or until their successors are duly elected and qualified.”
FKYS FIRST KEYSTONE CORP

FIRST KEYSTONE CORP shareholders approved Advisory vote on executive compensation at the 2026-05-21 meeting.

“The shareholders voted, on an advisory basis, to approve the compensation of the Corporation's named executive officers as disclosed in the Corporation’s proxy statement.”
FKYS FIRST KEYSTONE CORP

FIRST KEYSTONE CORP shareholders approved Ratification of the Selection of Independent Registered Public Accounting Firm for Fiscal Year 2026 at the 2026-05-21 meeting.

“The shareholders voted to ratify the selection of Baker Tilly US, LLP as the Corporation’s independent registered public accounting firm for the fiscal year 2026.”
FKYS FIRST KEYSTONE CORP

FIRST KEYSTONE CORP shareholders approved Election of Class C Directors at the 2026-05-21 meeting.

“The shareholders voted to elect three (3) Class C Directors to serve for a term of three (3) years and until their successor is elected and qualified.”
BDC BELDEN INC.

BELDEN INC. shareholders approved Approval of the Amended and Restated Belden Inc. 2021 Long Term Incentive Plan at the 2026-05-21 meeting.

“Proposal 4: Approval of the Amended and Restated Belden Inc. 2021 Long Term Incentive Plan. For Against Abstain Broker Non-Votes 35,776,894 798,210 28,293 935,100”
BDC BELDEN INC.

BELDEN INC. shareholders approved Advisory Vote on Executive Compensation at the 2026-05-21 meeting.

“Proposal 3: Advisory Vote on Executive Compensation. For Against Abstain Broker Non-Votes 36,210,874 362,824 29,699 935,100”
BDC BELDEN INC.

BELDEN INC. shareholders approved Ratification of Ernst & Young as Independent Registered Public Accountant at the 2026-05-21 meeting.

“Proposal 2: Ratification of Ernst & Young as Independent Registered Public Accountant. For Against Abstain 36,294,064 1,226,369 18,064”
BDC BELDEN INC.

BELDEN INC. shareholders approved Election of Ten Directors for a One-Year Term at the 2026-05-21 meeting.

“On May 21, 2026, Belden Inc. (the “Company”) held its regular Annual Meeting of Stockholders. The stockholders considered four proposals. The results of the voting were as follows: Proposal 1: Election of Ten Directors for a One-Year Term.”
NWPP NEW PEOPLES BANKSHARES INC

NEW PEOPLES BANKSHARES INC shareholders approved Ratification of the Appointment of Independent Registered Public Accounting Firm at the 2026-05-19 meeting.

“The shareholders ratified the Audit Committee's appointment of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2026. The results of the vote follow: Votes FOR Votes AGAINST Votes ABSTAIN Uncast Votes 16, 264,554 7,355 16,802 -”
NWPP NEW PEOPLES BANKSHARES INC

NEW PEOPLES BANKSHARES INC shareholders approved Election of Directors at the 2026-05-19 meeting.

“The shareholders elected four directors to serve three-year terms expiring in 2029 and one director to serve a two-year term expiring in 2028. The four directors elected to serve the three-year terms were Gina D. Boggess, John D. Cox, James W. Kiser and Elizabeth Keene. The director elected to serve the two-year term was Blaine S. White II. The results of the vote were as follows: Nominees Votes FOR Votes Withheld Broker Non-Votes Uncast Votes Term Expiring in 2029 Gina D. Boggess 14,629,045 37,547 1,622,119 - John D. Cox 14,638,919 27,673 1,622,119 - James W. Kiser 14,643,072 23,520 1,622,119 - Elizabeth Keene 14,597,132 69,460 1,622,119 - Term Expiring in 2028 Blaine S. White II 14,602,912 63,680 1,622,119 -”
PRSI PORTSMOUTH SQUARE INC

PORTSMOUTH SQUARE INC shareholders approved Ratification of the Appointment of Whitley Penn LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending June 30, 2026 at the 2026-05-20 meeting.

“Proposal (2) – Ratification of the Appointment of Whitley Penn LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending June 30, 2026: Votes For Against Abstain Broker Non-Votes 611,467 182 12,818 -”
PRSI PORTSMOUTH SQUARE INC

PORTSMOUTH SQUARE INC shareholders approved Election of Directors at the 2026-05-20 meeting.

“The Fiscal 2025 Annual Meeting of the Shareholders of Portsmouth Square, Inc. (the “Company”) was held on May 20, 2026”
INTG INTERGROUP CORP

INTERGROUP CORP shareholders approved Ratification of the Appointment of Whitley Penn LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending June 30, 2026 at the 2026-05-20 meeting.

“Proposal (2) – Ratification of the Appointment of Whitley Penn LLP as the Company’s Independent Registered Public Accounting Firm for the fiscal year ending June 30, 2026: Votes For Against Abstain Broker Non-Votes 1,694,002 5,571 495”
INTG INTERGROUP CORP

INTERGROUP CORP shareholders approved Election of two Class B Directors to serve until the fiscal 2028 Annual Meeting at the 2026-05-20 meeting.

“Proposal (1) – Election of two Class B Directors to serve until the fiscal 2028 Annual Meeting: Nominee For Withheld Broker Non-Votes Yvonne L. Murphy 1,517,016 1,253 181,799 William J. Nance 1,514,496 3,773 181,799”
CBL CBL & ASSOCIATES PROPERTIES INC

CBL & ASSOCIATES PROPERTIES INC shareholders approved Advisory approval of executive compensation program at the 2026-05-21 meeting.

“Shareholders approved, on an advisory basis, the Company’s executive compensation program for its named executive officers, as disclosed in the Company’s proxy statement for the 2026 annual meeting.”
CBL CBL & ASSOCIATES PROPERTIES INC

CBL & ASSOCIATES PROPERTIES INC shareholders approved Ratification of Deloitte & Touche, LLP as independent registered public accountants at the 2026-05-21 meeting.

“Shareholders ratified the selection of Deloitte & Touche, LLP as the Company’s independent registered public accountants for its fiscal year ending December 31, 2026.”
CBL CBL & ASSOCIATES PROPERTIES INC

CBL & ASSOCIATES PROPERTIES INC shareholders approved Election of Directors at the 2026-05-21 meeting.

“The following directors were elected to serve for a term of one year and until their respective successors are duly elected and qualified:”
FNRN FIRST NORTHERN COMMUNITY BANCORP

FIRST NORTHERN COMMUNITY BANCORP shareholders approved Ratify the appointment of Baker Tilly US LLP as independent registered public accounting firm for 2026 at the 2026-05-19 meeting.

“3. To ratify the appointment by the Audit Committee of the Board of Directors of Baker Tilly US LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026. For Against Abstain 11,433,489 15,344 105,582”
FNRN FIRST NORTHERN COMMUNITY BANCORP

FIRST NORTHERN COMMUNITY BANCORP shareholders approved Non-binding advisory proposal on the compensation of the Company's Named Executive Officers at the 2026-05-19 meeting.

“2. To approve a non-binding advisory proposal on the compensation of the Company’s Named Executive Officers: For Against Abstain Broker Non-Votes 9,144,400 107,971 165,180 2,136,864”
FNRN FIRST NORTHERN COMMUNITY BANCORP

FIRST NORTHERN COMMUNITY BANCORP shareholders approved Election of eleven directors to serve until the 2027 Annual Meeting at the 2026-05-19 meeting.

“1. To elect the following eleven (11) persons to the Board of Directors to serve until the 2027 Annual Meeting of Shareholders or until their respective successors shall be elected and qualified: Directors Votes For Against or Authority Withheld Broker Non-Votes Richard Bedoya 9,523,958 79,594 1,950,863 Patrick R. Brady 9,497,397 106,155 1,950,863 John M. Carbahal 9,598,535 5,017 1,950,863 Gregory DuPratt 9,597,203 6,349 1,950,863 Barbara A. Hayes 9,597,536 6,016 1,950,863 Richard M. Martinez 9,597,203 6,349 1,950,863 Sean P. Quinn 9,524,509 79,043 1,950,863 Mark C. Schulze 9,524,509 79,043 1,950,863 Jean-Luc Servat 9,598,535 5,017 1,950,863 Jeremiah Z. Smith 9,597,203 6,349 1,950,863 Louise A. Walker 9,576,646 26,906 1,950,863”
VEL Velocity Financial, Inc.

Velocity Financial, Inc. shareholders approved Ratification of RSM US LLP as independent auditor for 2026 at the 2026-05-21 meeting.

“Proposal III. The ratification of RSM US LLP as our independent auditor for 2026. Our shareholders ratified RSM US LLP as our independent auditor for 2026 with the following votes: Number of Votes For 25,860,650 Against 2,294 Abstain 6,528”
VEL Velocity Financial, Inc.

Velocity Financial, Inc. shareholders approved Advisory approval of named executive officers' compensation at the 2026-05-21 meeting.

“Proposal II: The approval of our named executive officers’ compensation on an advisory basis, including the following resolution: Resolved, that the compensation paid to the Named Executive Officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the related narrative disclosure is approved. Our shareholders voted as noted below and approved the resolution and our 2025 executive compensation. Number of Votes For 24,590,950 Against 92,104 Abstain 4,617 Broker Non-Votes 1,181,801”

Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.