PMI Group shareholders re-elect board of directors at annual meeting

PMI Group shareholders re-elect board

WALNUT CREEK, Calif. — Mortgage insurer PMI Group Inc. said Friday that shareholders had re-elected all nine members of its board.

They are Carmine Guerro, Wayne E. Hedien, Louis G. Lower II, Raymond L. Ocampo Jr., John D. Roach, L. Stephen Smith, Jose H. Villarreal, Mary Lee Widener and Ronald H. Zech.

Smith, PMI’s CEO, was re-elected as chairman.

Shareholders also approved plans to increased authorized common shares of PMI by 100 million shares, increase the number of shares available to the company’s employee stock purchase plan by 800,000 shares and increase the equity incentive plan by 3 millions hares.

Shares of PMI rose 16 cents, or 4.1 percent, to close at $4.08 Friday.