The Introduction Of The Mandatory Universal Proxy Card
Next week marks the introduction of the mandatory universal proxy card, possibly the most significant threshold in activist campaigns for at least a decade. Hitherto, activists seeking to elect new board members at U.S. companies had to solicit votes on their own proxy card and investors had to cast their votes on one of two cards – increasing the risk of a disproportionate outcome – unless they could spare an analyst to physically attend the annual meeting. Q2 2022 hedge fund letters, conferences and more From September 1, companies will have to list valid nominees on a single card, cutting t...