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How the SEC Is Making it Harder To Exclude Shareholder Proposals and What This Means for ESG This Proxy Season
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The SEC’s Rule 14a-8, which gives shareholders the right to put proposals to a vote of other shareholders, was adopted to allow shareholders access to other shareholders and management, BlackRock Head of External Affairs Dalia Blass explained. But it came with some protections to prevent proposals that would be a waste of time, such as those that had little to do with the company’s business. Ahead of the 2022 proxy season, the SEC changed its approach, making it harder for companies to exclude shareholder proposals, even highly prescriptive or granular, micromanaging measures.
Read the full summary of the conversation HERE.
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Gabrielle Wolf - Innisfree M&A
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