Update: ISS recommends its clients vote in support of proxy access, calling the proposed eligibility requirements of my proposal at Apple robust, while safeguarding against abuses in the nominating process. Glass Lewis opposes the proposal because “given the company’s… positive financial performance, we do not believe that adoption of this proposal is necessary at this time.” […]
The SEC this week weighed into the proxy advisor debate with Staff Legal Bulletin 20, which provides information on the proxy voting responsibilities of investment advisers (i.e. professional investors) as well as clarification on the exemptions from federal regulation which apply to proxy advisory firms. (more…)
SolarCity (SCTY), is one of the stocks in my portfolio. Their annual meeting is coming up on June 4, 2014. ProxyDemocracy.org had collected the votes of no funds when I checked and voted on 5/26/2014. I voted with management 75% of the time but won’t next year if corporate governance reforms are not made. View Proxy Statement. Read Warnings below. What follows […]