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Proxy access grants shareholders or groups of shareholders the ability to propose candidates for election to the board using the company's proxy statement rather than having to issue a separate proxy statement at their own expense. The SEC issued regulations for implementation of proxy access in September 2010; however, those regulations were effectively nullified by the courts in July 2011. Subsequent to the court's ruling, the SEC allowed a rule to go into effect that permits shareholders to petition the company directly through a shareholder resolution to adopt some form of proxy access upon approval by a majority of the shareholders.
Created By:
Russell Benasaraf
03-18-2014
Last Updated By:
Russell Benasaraf
03-18-2014
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