…meetings but clearly opposes stand alone virtual meetings: Companies should hold shareowner meetings by remote communication (so-called “virtual” meetings) only as a supplement to traditional in-person shareowner meetings, not as a substitute. Meet th…
…gures showing ever increasing numbers of virtual meetings. There were 2, 5, 17, 25 and 18 virtual-only meetings in, respectively, 2014, 2015, 2016, 2017 and 2018 year to date. As John Roe, head of ISS Analytics, said in an email: “So far in 2018, we’r…
…vings for our shareholders and company.” Virtual Meetings: The Lie If their real concern was to please their shareholders, Comcast would hold a hybrid meeting — allowing shareholders to attend in person or via the Internet. Don’t let them fool you, Co…
…ical matter, will not be able to conduct virtual meetings. The reason is that the statute requires the corporation to hold a meeting at a physical location absent receipt of consent from all shareholders to the electronic meeting. (California And Virt…
…e yet announced plans to move solely to “virtual meetings,” their newly adopted bylaws allow for virtual-only meetings. Many shareowners are alarmed by this trend to lock out or potentially lock out shareowners from their own meetings. For example, th…
…the exchange of contact information. If virtual meetings are to be considered shareholder, instead of incumbent meetings, chat room functions are needed. The discourse between attendees is of critical importance. Chat Rooms Missing from Current Best…
…ften due to reputational concerns. While virtual meetings hold great promise, they are even more prone to manipulation than regular annual meetings. For the current time, I favor hybrid meetings. Let shareowners join in from their computers but let th…
…irtual Annual Meeting For historical perspective, when shareholder proposals on VSMs were allowed, see Virtual Meetings: Can Shareholder Proposals Stem the Tide? Tweet Follow corpgovnet…
…er to ensure it gets wider distribution. Virtual meetings, in my experience, have been more problematic when hosted by Computershare than Broadridge but I have had issues at both. I hope everyone is documenting these issues and sending them to the com…
…. Holton has made his opinions regarding virtual meetings known before (see Broadridge Smokes Their Own Dope). Unfortunately, it takes an enormous amount of outrage to stir retail shareonwers to action. For example, although most shareowners believe C…
…establish safeguards for the conduct of virtual meetings in the future, the United States Proxy Exchange (USPX) announced today. Background Last Fall, Intel Corp. announced plans to scrap its annual shareowner meeting for 2010 and host an on-line for…
…he paper documents that communication at virtual meetings has decreased relative to in-person shareholder meetings. Then, Schwartz-Ziv discusses the challenges shareholders encounter at virtual meetings when they attempt to raise questions. Highlights…
…mmunication and, importantly, (iii) that virtual meetings of shareholders result in higher levels of shareholder participation. Critics of virtual-only and hybrid meetings of shareholders, on the other hand, generally assert (i) that virtual-only part…
…ickle of corporations experimenting with virtual meetings will become a torrent. We need a comprehensive solution. To that end, the USPX is organizing a three-pronged shareowner response: Organize an on-line members community to draft shareowner-appro…
…can support corporations in hosting all-virtual meetings. The United States Proxy Exchange (USPX) is spearheading shareowners’ response to the opportunities and risks virtual or hybrid meetings pose. We will be hosting a deliberative conference this…
…corporations asking them not to conduct virtual meetings. Unions have expressed concerns. Walden Asset Management has encouraged shareholders to write letters to Intel. Here are just a few scenarios illustrating how virtual meetings will deprive shar…
…company.” Hagberg offers several fixes: Virtual-only meetings for those 12,000-plus companies with “nothing controversial on their agenda, and who typically have no one show up…” Hybrid meetings are an option for 750 companies “that like their annual…
…nvested, welcome hybrid but oppose fully virtual meetings. (policy 4.7) “Companies should hold shareowner meetings by remote communication (so-called “virtual” meetings) only as a supplement to traditional in-person shareowner meetings, not as a subst…
…ther corporations should offer hybrid or virtual-only meetings. But through their actions and leadership on the issue, they promote virtual-only meetings. After all, they could have avoided controversy and held a hybrid annual meeting. There are some…
…ings by remote communication (so-called “virtual”meetings) only as a supplement to traditional in-person shareowner meetings, not as a substitute. I wish CII would take a larger role in discouraging lockout meetings. I’m delighted to see FFC take up t…
…d in Delaware urging them not to conduct virtual-only meetings. In the face of such opposition, who made the decision at Symantec and what was the rationale for deciding to hold a virtual-only annual meeting? With the erosion of shareholder value duri…
…chnology and procedural issues raised by virtual meetings. That will be followed with a members forum through which shareowners will draft shareowner-approved guidelines for the conduct of virtual meetings. Find out more and how you can be involved on…
…ut what ideal meetings should look like. Virtual meetings promise greater exposure of meetings to shareowners but right now, virtual-only meetings also allow company management to hide. Delaware law only requires shareowners to be able to hear the pro…
…ocation. Delaware requirements regarding virtual meetings are minimal. I hope issuers go way beyond those requirements and provide mechanisms for shareholders not only to ask questions, but to see the que of questions and who they are from. Ideally, t…
…-dozen companies that have conducted all-virtual annual meetings this year that I didn’t know about. Sign up for September program, Holding the Virtual Annual Meeting: Factors to Consider and Practice Pointers. (theCorporateCounsel.net/Blog, 7/8/10) R…
…ill deter other companies from moving to virtual-only meetings. Gary Lutin’s Shareholder Forum has done a great deal to date trying to come to grips with the various issues through his leadership and that of Avital Louria Hahn. I anticipate USPX, whic…
…ax from the first panel and my own post, Virtual Meetings. Virtual meetings also allow the issuer to exclude media. For many companies, media coverage is the only information the vast majority of shareholders have of important issues confronting a com…
…ouncil of Institutional Investors oppose virtual meetings. See their policy: 4.7 Electronic Meetings: Companies should hold shareowner meetings by remote communication (so-called “virtual”meetings) only as a supplement to traditional in-person shareow…
…hat would encourage continuing dialogue. Virtual-only meetings have become an easy way to discourage shareholder communications. The SEC should require companies that hold virtual shareholder meetings to allow those attending to share their contact in…
…hat would encourage continuing dialogue. Virtual-only meetings have become an easy way to discourage shareholder communications. The SEC should require companies that hold virtual shareholder meetings to allow those attending to share their contact in…