SOC Takes on SBUX: Finally, The First ESG Proxy Contest Under UPC For over a year, we and others speculated that ESG proponents would pounce on universal proxy cards (UPC) as a way to escalate efforts to exert influence over companies. Since UPC became mandatory in September 2022, we have seen exactly zero proxy contests […]
Standing Voting Instructions: Empowering the Excluded Retail Investor by Jill E Fisch just could be the most important article on corporate governance this year… if it is widely read and acted on. Download at ecgi, Penn Law or SSRN. The above photo is from Small Investors Support the Boards. But Few of Them Vote, The New York […]
Florida SBA recently completed a study of the impact of its proxy voting in proxy contests. See Valuing the Vote: The Impact of Proxy Voting on SBA Portfolio Holdings. I’d love to see more such analysis at other funds. (more…)
American Stock Transfer & Trust Company, LLC (AST), announced that its affiliate, AST Fund Solutions, LLC (I first knew them as The Altman Group) has entered into a definitive agreement to purchase D.F. King & Co., Inc. and its operating businesses (D.F. King). When the transaction is finalized, the combined company will be the leading issuer […]
The frequency of proxy contests has risen 87% during the last 10 years, 112 2006-2010 vs 60 2001-2005 and 50% of dissidents have gained at least one board seat at listed companies. According to an article by Warren S. De Wied of Wilson Sonsini Goodrich & Rosati, The most common types of proxy contests are […]