Starwood 2012 Annual Report Download - page 120

in control would be in the interests of our stockholders. Since our Board of Directors has the power to establish
the preferences and rights of preferred shares without a stockholder vote, our Board of Directors may give the
holders preferences, powers and rights, including voting rights, senior to the rights of holders of our shares.
Our Board of Directors May Implement Anti-Takeover Devices and Our Bylaws Contain Provisions
which May Prevent Takeovers. Certain provisions of Maryland law permit our Board of Directors, without
stockholder approval, to implement possible takeover defenses that are not currently in place, such as a classified
board. As permitted under the Maryland General Corporation Law, our Bylaws provide that directors have the
exclusive right to amend our Bylaws.
We Cannot Provide Assurance That We Will Continue to Pay Dividends. There can be no assurance that
we will continue to pay dividends. Our Board of Directors may suspend the payment of dividends if the Board
deems such action to be in the best interests of the Company or stockholders. If we do not pay dividends, the
price of our common stock must appreciate for you to realize a gain on your investment in the Company. This
appreciation may not occur and our stock may, in fact, depreciate in value.
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 2. Properties.
Our hotel properties and vacation ownership and residential business properties are described in Part I,
Item 1. “Business,” earlier in this report.
Our corporate headquarters are located at One StarPoint, Stamford, Connecticut, which lease expires in
February 2027. In addition to our corporate headquarters, we lease space for our divisional offices, service
centers and sales offices, both domestically and internationally.
We believe that our corporate headquarters and other leased space are in good condition and are sufficient
and suitable for the conduct of our business. In the event we need to expand our operations, we believe that
suitable space will be available on commercially reasonable terms.
Item 3. Legal Proceedings.
Information regarding Legal Proceedings is incorporated by reference from the “Litigation” section in Note
25, Commitments and Contingencies, of our consolidated financial statements set forth in Item 8. Financial
Statements and Supplementary Data of this Annual Report, which is incorporated herein by reference.
Item 4. Mine Safety Disclosures.
Not applicable.
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Market Information
Our common stock, par value $0.01 per share (“Corporation Shares”), is traded on the New York Stock
Exchange (the “NYSE”) under the symbol “HOT”.
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