A system and method for object rundown protection that scales with the number of processors in a shared-memory computer system is disclosed. In an embodiment of the present invention, prior to object rundown, a cache-aware reference count data structure is used to prevent cache-pinging that would otherwise result from data sharing across processors in a multiprocessor computer system. In this data structure, a counter of positive references and negative dereferences, aligned on a particular cache line, is maintained for each processor. When an object is to be destroyed, a rundown wait process is begun, during which new references on the object are prohibited, and the total number of outstanding references is added to an on-stack global counter. Destruction is delayed until the global reference count is reduced to zero. In an embodiment of the invention suited to implementation on non-uniform memory access multiprocessor machines, each processor's reference count is additionally allocated in a region of main memory that is physically close to that processor.