Broadridge reported that 187 companies held virtual shareholder meetings (VSMs) in 2016, 83% (155 meetings) of which were virtual-only. Of the 155 virtual-only meetings, six were conducted with live video, while the balance used only live audio. The remaining 32 of the 187 VSMs were hybrid; of those, four used live video - with the balance using live audio. Of the 44 companies that held hybrid meetings in 2015, 12 switched to virtual-only in 2016.
14% of the 187 VSMs in 2016 were held by large-cap companies (including 21 of the Fortune 500); 29% were held by mid-caps; and the remaining 57% were held by small-caps. VSMs spanned all sectors and industries, and numerous geographic areas; however, VSMs were most held most frequently by CA-headquartered companies.
80% of companies holding VSMs in 2016 allowed non-shareholder attendees. Non-shareholder attendees can't vote or ask questions, but can still hear and see the meeting. Company approaches to shareholder questions in 2016 were as follows:
- About 15% allowed questions to be collected online in advance of the meeting;
- 99% allowed questions to be submitted online during the live meeting; and
- Approximately 5% allowed live phone line questions during the meeting.
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