September 24, 2020
Authored by: R. Randall Wang and Vicki Westerhaus
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.