TiVo tivos its’ proxy statement…

June 18, 2007

images-2.jpegLate Friday, TiVo (TIVO), which apparently doesn’t like its name to be used as a verb (we have an Archos in our house) filed this revised proxy. And while the revision itself wasn’t all that titillating — the only real change was that Jeffrey Hinson is now head of the audit committee — it was the fourth version of its proxy that the company had filed since May 17, when it filed its preliminary proxy. That was followed up by a revised preliminary, a definitive and then on Friday, a revised definitive. One could only imagine how much space this sort of thing would take up on a TiVo, if TiVo were tivoing its proxy. Compare that to last year, when the company filed a single proxy.

The other interesting thing about TiVo’s proxy is the new language the company uses to describe its change in control agreements. The company, which Engadget has had on a deathwatch for several years, is periodically the subject of takeover rumors. So it’s pretty interesting the way that the CIC agreements are described in the proxy: “Our Board determined to provide these change of control severance agreements in order to mitigate some of the risk that exists for executives working in a small to mid-sized technology company. These arrangements are intended to attract and retain qualified executives that have alternatives that may appear to them to be less risky absent these arrangements, and to mitigate a potential disincentive to consideration and execution of any acquisition, particularly where the services of these executives may not be required by the acquirer.”

That ought to put those rumors to rest!

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