Should Companies Propose Proxy Access Bylaws at their 2010 Annual Meeting?
There has been dialogue in corporate law circles about whether or not calendar year-end public companies should submit proxy access bylaws to shareholders for approval at their 2010 annual meeting. An argument in favor of this approach is that, if a company’s shareholders approve proxy access bylaw amendments at its 2010 annual meeting, these company-tailored proxy access bylaws (rather than SEC-mandated proxy access provisions) will govern the company’s 2011 director election process (assuming that the SEC’s final rules permit companies to adopt more restrictive proxy access provisions with shareholder approval). Nevertheless, on balance, the uncertainty regarding what will be included in final SEC rules weighs against companies taking this action. The argument in favor of submitting proxy access bylaws to shareholders at companies’ 2010 annual meetings is predicated on the assumption that the final rules (unlike the proposed rules) will allow companies to adopt, via shareholder actio
Related Questions
- What do I need to do if I want to send an authorized representative to the Annual Shareholders’ Meeting with proxy voting rights and instructions?
- Can I receive my annual meeting materials—including financials, annual overview, and proxy statements via e-mail?
- Are there any programs or webinars offered on how to propose a successful program at the Annual Meeting?
