Proxy firm Institutional Shareholder Services’ Sustainability Proxy Voting Guidelines – 2020 Policy Recommendations are public, and include a recommendation that shareholders vote in favor of appraisal rights when they are on the ballot.

ISS observes that some investment funds are taking a view towards incorporating various issues into their voting behavior – including corporate governance, environmental, or social issues.  These particular proxy guidelines are intended for those investors considering (or already pushing) these issues.

The right to make shareholder proposals and effect corporate governance is a critical shareholder right and one which goes hand in hand with other protections, including derivative action, appraisal, or inspecting books and records.