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SEC proposes to modernize shareholder proposal rule

  • SEC document Image

Nov 06, 2019

The SEC has issued a proposed rule, “Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8.”

The pro­posal would:

  • “[U]pdate the criteria, including the ownership requirements, that a shareholder must satisfy to be eligible to have a shareholder proposal included in a company’s proxy statement.”
  • “[U]pdate the ‘one proposal’ rule to clarify that a single person may not submit multiple proposals at the same shareholder’s meeting, whether the person submits a proposal as a shareholder or as a representative of a shareholder.”
  • “[M]odernize the levels of shareholder support a proposal must receive to be eligible for resubmission at the same company’s future shareholder meetings.”

Com­ments on the pro­posed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the following on the SEC’s Web site:

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