United States:
SEC Issues Guidance On Conducting Shareholder Meetings During COVID-19
14 April 2021
Cadwalader, Wickersham & Taft LLP
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The SEC Division of Corporation Finance and the Division of
Investment Management encouraged issuers to allow shareholder
proponents to present proposals - per SEA Rule
14a-8(h) ("Attendance") - through "alternative
means," such as by phone, during the 2020 and 2021 proxy
seasons. The SEC stated that should a shareholder proponent be
unable to present a proposal due to COVID-19 related hardships, SEC
staff would consider this a "good cause" - within the
meaning of SEA Rule 14a-8(h)(3) - to permit the proposal's
inclusion in proxy materials for meetings held in the following two
calendar years.
Primary Sources
-
SEC Guidance: Staff Guidance for Conducting Shareholder Meetings in
Light of COVID-19 Concerns
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