Exact(9)
Calls to declassify boards or reduce supermajority vote requirements also belong in this category.
Seven proposals passed while two did not because they fell short of the companies' 80% supermajority vote requirements.
The CII's new policy on Investor Expectations for New Public Companies calls for companies, upon going public, to have a "one share, one vote" structure, simple majority vote requirements, independent board leadership and an annually elected board.
The new guidelines outline the specific areas of governance Glass Lewis will review (for example, antitakeover provisions, supermajority vote requirements, and general shareholder rights, such as the ability of shareholders to remove directors and call special meetings).
Supermajority vote requirements is another topic where a change in practice has been more gradual as opposed to proposals that led to almost universal adoption of a governance practice in a short timeframe.
Annual director elections, majority vote standard, simple majority vote requirements and even proxy access to a large extent are now the norm for the vast majority of large companies.
Similar(51)
(Pairs of treaties require two Senators bracketed against one, because of the two-thirds vote requirement for ratification).
After long negotiations, a compromise lowered to 60 the cloture vote requirement on legislation and nominations.
SAYS ANNOYANCES CUT DOWN CITY VOTE; Requirement of Registration Every Year Should Be Ended, Dr. Allen Declares.
The biggest amendment was no doubt to clear the way for a majority vote requirement for Apple's directors.
The Special Committee failed to obtain a majority of the minority vote requirement, but it supposedly agreed to a two-thirds vote requirement instead because a two-thirds vote still prevented Grupo Mexico from unilaterally approving the Merger.
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