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DIRECTV

This is provided for informational purposes only and does not constitute investment advice.

Your VOTE is important! VOTE your shares at the following website: www.proxyvote.com or by telephone at 1-800-454-8683.

Ticker: DTV
Shareholder Meeting Date: 06/03/2010
Total Shares Voted: 3,139,157
Number Description /Reason Vote
1. Elect Directors
CalPERS is withholding from director nominees G. Maffei and J. Malone for serving on an excessive number of public company boards.
Withhold from director nominees G. Maffei and J. Malone
2. Ratify Auditor For
3. 2010 Stock Plan
CalPERS believes equity grants should vest over a period of at least three years.
Against
4. Executive Officer Cash Bonus Plan For
5. Shareholder Proposal Regarding Retention of Shares After Retirement
CalPERS is a firm supporter of stock ownership guidelines that require executives to satisfy minimum levels of ownership after leaving the company. It should be noted the proposal mandates that executives hold 75% of their equity awards for two years after retirement or termination. CalPERS prefers that guideline specifics be designed and implemented through the company?s Independent Compensation Committee.
For