The deadline for dissidents to throw director candidates in the ring is looming for companies with spring annual meetings. Investors are intending to nominate opposing board candidates and have launched a flurry of proxy battles as companies work to resolve demands behind the scenes. Indeed, between Jan. 1 and Feb. 22 this year, activists announced…
Tag: universal proxy
Companies Brace for Onslaught of New Activists After Change in Proxy-Voting Rules – WSJ
“This proxy season is shaping up to be the busiest on record,” said Shaun Mathew, a partner at law firm Kirkland & Ellis LLP who advises companies on how to prepare for and respond to activists.“Companies are concerned it will draw in first-time activists who think they can take advantage of the new system to…
U.S. SEC Adopts Universal Proxy Card Rules | Morrison Foerster
In general, the final rules: Mandate the use of a universal proxy card in contested elections that includes the names of both company and dissident nominees, as well as certain other shareholder nominees resulting from proxy access; Require dissidents to notify companies of their intent to solicit proxies and the names of their nominees no…
A Win in Proxy Fight for Universal Proxy Card
For the first time, a dissident shareholder group won board control in a proxy contest using a “universal proxy card” that included the names of both the company’s and the dissident’s slates. The battle for a majority of the board seats at EQT Corporation was waged by brothers Toby and Derek Rice, whose November 2017…
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