Parker Poe's "Practical Considerations for Virtual Annual Stockholder Meetings" includes these and other sound tips:
- Ask the virtual meeting platform provider what technology issues they have encountered with other meetings so that the company can prepare to address them if they arise.
- Publicize a tech hotline (or similar) for shareholders to obtain assistance before and during the meeting.
- Coordinate director introductions with your directors in advance (and ensure they are sufficiently comfortable with the technology to effect the plan).
- Ensure that the meeting Q&A format and process are well considered and disclosed, and that the company is prepared to explain to shareholders the basis for the format and process used.
- Promote shareholder participation in the meeting to the best extent reasonably possible.
- Ensure shareholders can access all meeting information including the agenda, rules of conduct, stockholder list, and proxy materials through the virtual meeting platform.
As noted in last week's Society Alert, companies should strive to promote shareholder engagement during the meeting to the greatest extent practicable under the circumstances, with the understanding that the remote coordination, training and preparation with colleagues, advisors and service providers due to COVID-19 remote working conditions make this first (for most companies) experience with facilitating a virtual meeting anomalous at best.
Society in-house members, please click here to access the recording, presentation (pdf PPT Slide Deck) and anonymized Q&A from our recent webinar: "Virtual Annual Shareholder Meetings - Here's How!" The presentation includes links to many additional relevant resources including suggested best practices, many of which are also posted on our Virtual Meetings page.
This post first appeared in the weekly Society Alert!