Who’s between a company and its shareholders? According to the SEC, it’s merely brokers, banks, custodians, securities depositories, transfer agents, proxy solicitors, proxy service providers, proxy advisory firms, and vote tabulators. Here’s the quote from their Concept Release on the US Proxy System: The manner in which proxy materials are distributed and votes are processedContinue Reading
On July 14, the SEC published the Concept Release on the US Proxy System. They occasionally issue these releases, maybe two or three times a year, when they’re considering substantial problems. They want your feedback. This time around, the SEC describes our current proxy voting system, its consequences on shareholder communication and participation, and theContinue Reading
The Problem – Retail voters aren’t voting The biggest challenge that all shareholders face in collectively achieving better corporate governance is the lack of participation by “retail” (i.e., non-institutional) voters. Approximately 25-35% of shares of public companies are held by individual retail shareholders. This segment of the shareholder base is notorious for not submitting ballots.Continue Reading
Here, we muse about proxy voting, corporate governance, our startup experience, and whatever else strikes our fancy.
