What is the effect of a change in a companys fiscal year-end on its annual shareholder meeting requirement?
Whether an annual shareholder meeting is required when a company changes its fiscal year-end depends on the treatment of the transition period under SEC Rules 13a-10 and 15d-10. In general, if the company files a transition report with audited financials for the new fiscal year-end, it must hold an annual meeting for this transition period within one year of the transition period end date. Otherwise, the company need not hold a separate annual meeting for the transition period, but it should include the transition period in its next annual meeting.
