Stewart Is Woman of the Hour at Meeting

Martha Stewart had a coming-out party of sorts Tuesday: her company’s first annual meeting since her release from prison in March. Cookies were served.

Looking trim in a taupe pantsuit and pastel blue blouse, Stewart, 63, got warm applause as she thanked shareholders at the Equitable Auditorium in Midtown Manhattan for their support “during our personal difficulties.”

Stewart’s famous ankle bracelet monitoring device was nowhere in sight. She was criticized recently for attending a Time magazine gala, because under terms of her house arrest she is supposed to be confined to her Bedford, N.Y., estate except for 48 hours a week for work, food shopping, doctor visits and other such activities.

Describing her heavy schedule of filming for two TV shows premiering in the fall, Stewart joked, “That proves 48 hours is way too short a workweek.”

Long Islander Linda Cullinane, one of about 150 shareholders on hand, said she bought shares of Martha Stewart Living Omnimedia Inc. at $12 two years ago, just before Stewart was indicted on conspiracy and obstruction charges.

Cullinane, a longtime fan and subscriber to Stewart’s magazines, said the purchase was less an investment and “more a moral support thing.” The shares closed Tuesday at $25.20, up 9 cents, on the New York Stock Exchange.

After a review of company operations and a gentle question-and-answer session, the meeting wrapped up in less than an hour.

“I was impressed by the pithiness,” said Roger Cullinane, an insurance actuary and Linda’s husband. “Believe me, I’ve been to some boring meetings.”