The State of Michigan Retirement System Proxy Voting Guidelines are straightforwardly “for” on appraisal, writing:
“Appraisal rights are intended to help protect shareholders from unfair pricing in corporate transactions. The SMRS will vote for proposals that (i) provide shareholders with appraisal rights, (ii) restore rights of appraisal, or (iii) which otherwise support rights
Major proxy advisory firm Institutional Shareholder Services (ISS) issues guidance every year for investors laying out ISS’ recommendations for voting on various shareholder issues. The 2022 US voting guidelines recommend voting in favor of appraisal rights when such rights are on the ballot. This is in line with the 2021 guidelines (which we covered).
Major proxy firm Institutional Shareholder Services (ISS) issues guidance every year for investors laying out ISS’s recommendations for voting on various shareholder issues. The 2021 US voting guidelines, in line with the 2020 guidelines, recommend voting in favor of appraisal rights. This is of little surprise as appraisal rights remain critical shareholder rights and
The SEC has recently enacted rules that make it tougher for shareholders to submit ballot proposals. As we previously blogged about, the rules now approved by the SEC by a 3-2 vote: (1) increase the monetary amounts and length of investment required to submit shareholder proposals and (2) raise the threshold of shareholder support required
In a 3-2 vote, the SEC recently agreed to propose stricter voting requirements on shareholder proposals. The proposed rule would raise the threshold of shareholder support required to resubmit proposals previously voted down by shareholders. While SEC Chairman Jay Clayton proclaimed that the changes will help weed out unconstructive shareholder proposals, SEC Commissioner Robert J.