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Courtesy of Proxy Analytics, notable shareholder and management proposal developments and takeaways for the week of January 28 include the following based on 29 meetings and 300 shareholder proposals tracked:

• Support remains strong for management’s director nominees and say-on-pay proposals. All director nominees have received majority support and just one has received less than 75% support (due to overboarding and time commitment concerns). Of 25 say-on-pay proposals, none received less than 70% shareholder support and all but two garnered at least 75% support.
• One proposal regarding shareholder rights to call a special meeting garnered majority support; however, that company’s existing 50% ownership threshold is at the high end of the range relative to what companies typically provide for in their bylaws—with most companies providing for a range of 10% - 25%—or thresholds favored by proxy advisors. ISS  prefers 10% and Glass Lewis prefers a range of 10% - 15%, depending on company size.
• Nearly one-third of shareholders supported a living wage proposal (we reported on that trending proposal type here) submitted by John Chevedden, who is on track to continue his status as lead proponent based on volume of proposals, with more than 60 proposals submitted this season  to date. The proposal is one of eight such proposals tracked thus far this season.
• Four of nine new no-action requests added to the SEC’s website last week relate to mandatory director resignation policies, which we reported on last week in relation to this season’s novel proposals.

Access additional resources on our Proxy & Annual Reporting Season 2024 page.

                    This post first appeared in the weekly Society Alert!