In mid-July I e-mailed investor relations at Reeds Inc. $REED (IR@reedsinc.com) asking if REED had a classified board or plurality requirements for director elections. Can shareowners call a special meeting or act by written consent? What supermajority requirements are in place re M&A or other actions? No response. This surprised and disappointed me since they were prompt […]
Tag Archives | say when on pay
SWOP Reaches Tipping Point
James McRitchie, 03/27/2011 ,
The debate over the best frequency for “say on pay” votes has reached a tipping point, as a majority of S&P 500 and Russell 3000 firms have urged their investors to support annual advisory votes on executive compensation. As required by the Dodd-Frank Act, this year’s corporate proxy statements include a “say when” vote that […]
Controversy Among Corporate Secretaries
James McRitchie, 03/09/2011 ,
I’ve been getting some interesting comments in response to last week’s newsletter and I want to share them. Here are a few of the more interesting e-mails I’ve received. I’ve deleted the authors’ specific designations to safeguard their privacy: ‘You are missing a key fact. The recommendations to shareholders are not management’s recommendations as repeatedly […]
Shareowners Going "Off the Reservation" on SWOP
James McRitchie, 03/05/2011 ,
Of 95 companies that held say-on-pay votes as of Feb. 25, 93 had favorable votes. The vast majority of those won more than 90 percent of the votes cast, according to an analysis of the first month of proxy filings under the final Securities and Exchange Commission rules by Schulte Roth & Zabel. Companies, however, […]