Prohibits the Securities and Exchange Commission from amending or otherwise revising the threshold for
shareholder proposals or resubmissions under 240.14a-8 of title 17, Code of Federal Regulations, and ensures that retail investors interests are protected and that their voices are heard.
The bylaws include amendments "providing enhanced advance notice disclosure requirements for
shareholder proposals of business or director nominations for an annual meeting of shareholders," the company said.
Last year it rushed through
shareholder proposals at the business meeting, which had a fraction of the attendees, in less than 30 minutes.
The company's preliminary proxy statement outlines four company proposals and three
shareholder proposals. The company proposals include the election of 13 directors, an advisory vote on the compensation of this year's named executive officers and approval of the tax benefit preservation plan.
Further, the company has set 9 April 2019 as the deadline for the receipt of
shareholder proposals submitted under Rule 14a-8 of the US Securities Exchange Act of 1934, as amended, for inclusion in IRET's proxy materials for the meeting.
(NASDAQ: AKBA) vote in favour of the
shareholder proposals relating to the company's proposed merger with Keryx Biopharmaceuticals (NASDAQ: KERX).
BlackRock's report also showed it voted this year in favor of
shareholder proposals at Facebook Inc and Google parent Alphabet Inc to give each shareholder an equal vote on governance matters.
All of the targeted institutions -- Bank of America, MasterCard, American Express, JP Morgan, Wells Fargo and Citi -- rejected
shareholder proposals asking for detailed reports on the percentage pay gap between male and female employees across race and ethnicity, including base, bonus and equity compensation, policies to address that gap, the methodology used, and quantitative reduction targets.
"Pension fund managers should refocus their efforts on the wants and needs of their investors, prioritizing investment decisions to maximize performance, while limiting votes to
shareholder proposals that directly impact their fund and its members."
* Sustainability reporting:
Shareholder proposals requesting companies publish a sustainability report continued to gain traction.
As discussed previously in the 2015 Proxy Statement, the deadline for
shareholder proposals for inclusion in the proxy statement for the 2016 Annual Meeting of Shareholders was December 9, 2015.
Executive compensation is a major issue for many boards, but in terms of the raw number of
shareholder proposals a company receives, it is not the greatest concern.
