November 5, 2015

Proxy Access Votes and Adoptions Both on the Rise

The number of proxy access proposals receiving majority support and the tally of companies adopting access provisions both continue to climb. So far in 2015, a total of 96 proxy access proposals—both shareholder and management—came to a vote, ISS data shows. Of those, more than half, 58, passed with majority shareholder support. The overall average level of support for those that came to a vote was 56 percent. The total number of companies that have adopted some sort of proxy access mechanism now stands at 70, according to data compiled by Covington & Burling for CII. While firms are adopting various combinations of requirements in these mechanisms, some are much more popular than others.

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