For a minute, it seemed like proxy access was settled – but we see new “fix it” proposals each year, in addition to continued targeting of companies that haven’t adopted this bylaw. If you need a recap of where things stand, Sidley’s memo is a good place to start – with appendices, it’s 178 pages! It covers:
1. Trends in proxy access adoption among large – and small – companies
2. Management & shareholder proxy access proposals – typical parameters & voting results and potential grounds for exclusion
3. Institutional investor support for proxy access – and lack of support for “fix-it” proposals
4. Proxy advisor policies on proxy access
5. Typical parameters of proxy access provisions – including a detailed appendix of bylaws from 565 companies
6. Use of proxy access in US – the second attempt is pending
7. Tips for companies considering whether & when to adopt proxy access
-Liz Dunshee, TheCorporateCounsel.net January 22,2019
