On September 23, 2020, a divided SEC adopted amendments to the Rule 14a-8 shareholder proposal rule by a 3-2 vote. The changes, among other things:

  • increased the stock ownership requirement for eligibility to submit a proposal,
  • strengthened certain procedural requirements, and
  • raised the thresholds to resubmit a proposal that was previously voted on by shareholders.

Click here for a client alert describing the amendments in more detail.