Equally informative for both management and the board, EY’s “Universal proxies: what boards should know and how companies should prepare” explains the potentially far-reaching implications of the new Universal Proxy rule that applies to all shareholder meetings after August 31. In addition to putting boards on notice of the potential for more frequent and nuanced activist activity that is likely to stem from a universal proxy card that allows shareholders to select a combination of company and dissident directors rather than a single slate, the report provides guidance to boards on how to prepare and best position themselves for the “new normal.”
See our prior report: Sample Universal Proxy Deadline Disclosure and additional resources on our Universal Proxy page.
This post first appeared in the weekly Society Alert!