Tag Archives | Broadridge Financial Solutions

Broadridge Amends Proxy Access: Allows 50

Broadridge Amends Proxy AccessHave you heard the news? Broadridge amends proxy access bylaws on July 6, 2017, to do the following:

  1. Increase the number of stockholders that can aggregate their shares to make a proxy access Board nomination from 20 to 50 stockholders,
  2. Eliminate a requirement to count individual funds within a mutual fund family as separate shareholders for purposes of satisfying the minimum ownership requirements to make a proxy access nomination, and
  3. Eliminate a requirement that a previously nominated proxy access nominee achieve a specified level of shareholder approval in order to be eligible for re-nomination.

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Virtual-Only Meetings: The Nuclear Option

Virtual-Only Meetings Growth

Virtual-Only and Hybrid Meetings Data Reported by Broadridge in the FT

Virtual-Only Meetings are quickly being adopted by entrenched boards who fear both adverse publicity and any attempt by shareholders, especially retail shareholders, to hold them accountable. Broadridge Financial Solutions ($BR) has a direct financial incentive to push companies toward virtual-only meetings. Although many funds and organizations oppose such meetings, no one in the opposition has a such a direct financial incentive to oppose them. 

Take Action: Vote against any all all directors serving on governance or similar committees at companies that hold virtual-only meetings.  Continue Reading →

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Broadridge Financial Solutions: My Vote – Proxy Score 64

Broadridge Financial SolutionsBroadridge Financial Solutions, Inc. (BR) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. They are one of the stocks in my portfolio. Their annual meeting is on November 12, 2015. ProxyDemocracy.org had collected the votes of two funds when I checked and voted. I voted with the Board’sProxyDemocracy.orgrecommendations 64% of the time. View Proxy Statement

Read Warnings below. What follows are my recommendations on how to vote the proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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Reforms at ProxyVote Don’t Go Far Enough

ProxyVoteBroadridge Financial Solutions, Inc. BR, launched a newly upgraded ProxyVote site, which improves the shareholder communication and proxy voting experience for individual shareholders. Read the press release below, then my commentary.

“ProxyVote.com has long been a key technology in the corporate governance process,” said Broadridge Investor Communications Solutions President Robert Schifellite. “Since its launch more than 17 years ago, usage has grown tremendously and, in the past year alone, more than two-thirds of all proxy votes by individual shareholders were cast on ProxyVote.com.  The newly upgraded platform reflects extensive input from individual investors, companies, broker-dealers, corporate governance experts, and regulators.”
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Broadridge ($BR): How I Voted – Proxy Score 50%

Broadridge Financial Solutions, Inc. ($BR) is one of the stocks in my portfolio. Their annual meeting is coming up on 11/15/2012. ProxyDemocracy.org had collected the votes of two funds when I voted on 11/8/2012.  I voted with management 50% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank will be voted in favor of management’s recommendations. (See Don’t Let Companies Change Shareholders’ Blank Votes) Continue Reading →

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