Our friends at CorporateCounsel.net have highlighted recent data on e-proxy usage, indicating that the current system is failing to increase participation by retail shareholders. In fact, e-proxy is causing a decrease in participation.
“Retail vote goes down dramatically using e-proxy (based on 80 meeting results); number of retail accounts voting drops from 19.2% to 4.6% (over a 75% drop) and number of […]
A nice piece appeared in The Wall Street Journal this week covering ‘Say-on-Pay’ proposals, their prevalency in European countries, and the implications of a Barack Obama victory this November.
Certainly the soup du jour for the 2008 proxy season, executive pay-related shareholder proposals should receive an added boost with the new SEC-mandated CD&A (Compensation Discussion and […]
J. Robert Brown at The Race to the Bottom pens a great article on the SEC and its failure to highlight proxy access as a main initiative in 2008.
According to Brown, this could very well backfire, causing shareholder activists to lobby for even greater power and control.
For more, click here.
Jeffrey N. Gordon has released a draft of his forthcoming paper titled Proxy Access in an Era of Increasing Shareholder Power: Forget Issuer Proxy Access and Focus on E-Proxy.
A bit dry reading for one sitting, but his abstract, as published at The Harvard Law School Corporate Governance Blog, provides salient points:
The current debate over shareholder […]
Yesterday’s report about the SEC’s letters chiding corporations about corporate pay disclosure may finally signal a victory for corporate governance activists. This victory – any victory – has been a long time coming.
Since the passage of Sarbanes-Oxley, corporate governance activists have had little to cheer about. There have been many fights along the way, […]
Kudos to the SEC, who marked the opening month of proxy season by admonishing many firms for failing to provide enough information on executive compensation. Specifically, the SEC is scrutinizing bland descriptions and generalizations made all too often by publicly-traded companies.
For further reading, see The Wall Street Journal’s piece here.
