As previously reported, in January, the SEC Division of Corporation Finance issued guidance indicating that it would object to voluntary submissions of Notices of Exempt Solicitation on EDGAR unless shareholders meet the $5 million ownership threshold under Exchange Act Rule 14a-6(g). The Staff noted that most such filings in recent years have been voluntary submissions by persons below that threshold and appear to be primarily a means to generate publicity.
In response, the Interfaith Center on Corporate Responsibility (ICCR) created a public webpage that lists exempt solicitations by annual meeting date. According to Cooley’s post, more than 120 solicitations are currently included and companies may wish to review the list to determine whether their meetings are being targeted.
This post first appeared in the weekly Society Alert!