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…