On October 16, 2012, the SEC published another “Staff Legal Bulletin” with guidance on shareowner proposals submitted to public companies pursuant to Rule 14a-8. SLB No. 14G provides the Division of Finance’s views regarding: Proof of ownership under Rule 14a-8(b)(2)(i) for purposes of verifying whether a beneficial owner is eligible to submit a proposal; the manner […]
Tag Archives | shareowner proposals
Notes From SEC's 14a-8 Stakeholder Meeting
James McRitchie, 07/25/2012 ,
Last week I attended an SEC meeting with “key stakeholders in the shareholder proposal process to engage in an open and productive dialogue” about the staff’s involvement in the process. (my emphasis) From the invitation: (more…)
Shareholders Can End Political Ad Secrecy
James McRitchie, 01/26/2011 ,
This month marks the first anniversary of the landmark Supreme Court Citizens United decision striking down restrictions on independent political spending by corporations and unions. But heated national debate continues. Major controversy has erupted over independent or third party organizations channeling secret donations into the elections. President Obama strongly criticized the decision, stating that it […]
Mutual Funds Warm to Corporate Disclosure of Political Expenditures
James McRitchie, 12/16/2010 ,
Since 2004, shareowners have been filing a proposal at corporations asking for greater transparency in their political expenditures. There are now about thirty proponents, and the number is growing. Their proposals incorporate model language developed by the Center for Political Accountability (CPA). The language has evolved slightly as campaign finance laws and practices have changed, […]
New Standards For Documenting Eligibility to Submit Shareowner Proposals
James McRitchie, 11/11/2010 ,
Today, the United States Proxy Exchange issued standards for documenting eligibility to submit shareowner proposals. Submitting shareowner proposals is a primary means by which shareowners influence the corporations they own. The process is governed by SEC Rule 14a-8. One provision of that rule—Rule 14a-8(b)(2)—specifies how sharewners prove they own shares in a corporation for the purpose […]
Free USPX Training – Learn How to File Shareowner Proposals
James McRitchie, 10/06/2010 ,
For a second year, the United States Proxy Exchange (USPX) is offering shareowners one-on-one training in the intricacies of filing shareowner proposals. The instructor will be a prominent shareowner activist who has successfully filed hundreds of shareowner proposals. The training is free for USPX members, and instruction is provided entirely by phone and e-mail. To […]