Reprinted with the permission of The Legal Intelligencer. 

The following is an excerpt, to view the full article follow the link below.

During the 2015 proxy season, one of the most prominent governance topics was the submission of proxy access proposals by shareholders. New York City Comptroller Scott Stringer submitted shareholder proposals for proxy access on behalf of New York City pension funds to 75 companies for voting during the 2015 proxy season. In the fall of 2015, Stringer targeted 72 companies with proxy access proposals for voting during the upcoming 2016 proxy season—consisting of 36 new companies and 36 companies that received proposals last year, but had not yet enacted acceptable proxy access bylaws. In connection with his 2016 campaign, Stringer highlighted the fact that since November 2014, the number of companies with bylaws that contain a proxy access policy has increased from six companies to 115 companies. In light of this apparent success and Stringer's campaign, we expect that proxy access proposals will continue to be a hot topic into the future.

To continue reading the full article, written by members of Ballard Spahr’s Securities Practice, Katayun I. Jaffari and Jane E.R. Siegfried, please follow this link.

Copyright © 2016 by Ballard Spahr LLP.
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