Proxy access will likely follow the pattern of majority voting in uncontested director elections and become common among S&P 500 companies in the next several years. While proxy access has been the subject of shareholder proposals for several years, 2015 is a tipping point. This year’s proxy season saw a significant increase in the number of shareholder proxy access proposals and shareholder support for such proposals, as well as an increased frequency of negotiation and adoption of proxy access via board action – including an accelerating trend towards board adoption without having received a shareholder proposal – or, to a lesser extent so far, submission of a management proposal to a shareholder vote.
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|Holly J. Gregory
|John P. Kelsh
|Claire H. Holland
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