State treasurers and investor advocates mobilize to defend Rule 14a-8, which has allowed them to file advisory shareholder proposals since 1942. Dismantling the shareholder-proposal process would silence an essential early-warning system, increase litigation, and shift power from shareholders to corporate management. Jump to How to Defend Rule 14a-8. Jump to Petition on SEC Rule 14a-8 […]
Over the coming months, my wife and I will ask several companies to conduct Board‑supervised studies of whether substantial, non‑controlling, broad‑based employee ownership transactions could strengthen long‑term alignment, productivity, succession, culture, and stockholder value—while preserving Board authority and public‑market discipline. This is a strategic ownership question, not a compensation or benefits request. Our stockholder proposals […]
Rule 14a-8: A Cautionary Tale About Abandoning Shareholder Voice Alan Palmiter’s recent essay, Rule 14a-8: A Failed Experiment in Merit Regulation (Still), offers a troublesome critique of the SEC’s long-standing role as arbiter of shareholder proposal “merits.” His diagnosis will resonate with many who have spent time in the trenches of Rule 14a-8. We have […]