Qualcomm, Inc. (QCOM, $QCOM) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. Qualcomm, Inc is one of the stocks in my portfolio. Their annual meeting is on March 8, 2016. ProxyDemocracy.org had collected the votes of three funds when I checked. I voted AGAINST the Omnibus Stock Plan and Harish Manwani and FOR proxy access. I voted with the Board’s recommendations […]
Substantial implementation, that’s what SEC staff deemed proxy access ‘lite’ last week. Investor rights were eroded again as staff granted a number of no-action letters on February 12th to companies based on “substantial implementation” of proxy access. At its founding, the SEC was largely a champion of shareholder rights. The SEC required companies to include proposals […]
As I have mentioned in other posts (see especially Proxy Access Lite: Victories at Whole Foods, H&R Block), several companies have adopted proxy access ‘lite’ with provisions that make implementation excessively difficult and less effective than they would have been under the SEC’s universal proxy access Rule 14a-11. Although I withdrew proposals at several companies, based on the […]
United-Guardian Inc. (UG:NASDAQ) is one of the stocks in my portfolio. The Company researches, develops, manufactures, and markets cosmetic ingredients, personal care products, pharmaceuticals, medical lubricants, health care products, and specialty industrial products in the United States, Canada, China, the United Kingdom, France, and internationally. Their annual meeting is coming up on 5/19/2015. ProxyDemocracy.org doesn’t track United-Guardian. Therefore, this analysis […]
Prudential $PRU is winning widespread praise for adopting proxy access before even facing a proposal on that subject from shareholders. However, there is at least one provision that would be a deal breaker for me if I were negotiating with them on the topic. (more…)
I’m delighted to see “Discussion of Proxy Access” (11:05-12:05 p.m.) as one of the items on the agenda for the SEC’s Investor Advisory Committee (SEC-IAC) at the upcoming February 12th meeting. I discuss two recommendations below. Take Action: Please submit your own and paste into comments below. See comments submitted. Proxy Access: Rule 14a-11 In light […]
Jill E. Fitch, a Professor of Law at the University of Pennsylvania Law School, argues the DC Circuit’s 2011 decision in Business Roundtable v. SEC, completely disregarded the congressional policy judgment reflected in Dodd-Frank’s authorization of proxy access regulations. (more…)