T. Rowe Price Group Stockholders Reelect Board of Directors, Affirm 'Say On Pay' Recommendations

Apr 14, 2011, 11:49 ET from T. Rowe Price Group, Inc.

BALTIMORE, April 14, 2011 /PRNewswire/ -- At its annual meeting today, stockholders of T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) reelected all 10 nominees to the Board of Directors.

By wide margins, and through non-binding advisory votes, the company's stockholders approved the 2010 compensation paid to the company's named executive officers (as disclosed in its March 4, 2011 proxy statement), and selected "every year" as the desired frequency for a stockholder vote on executive compensation. The choices had been "every year," "every other year," or "every third year." The Board, which had recommended annually as the preferred frequency, has adopted the stockholders' selection as its policy.

In addition, stockholders ratified the reappointment of KPMG LLP as the company's independent registered public accounting firm.

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with $482.0 billion in assets under management as of December 31, 2010. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

SOURCE T. Rowe Price Group, Inc.