SEC Adopts Long-Awaited Amendments to Modernize Shareholder Proposal Rule

SEC Adopts Long-Awaited Amendments to Modernize Shareholder Proposal Rule

Blog Keeping Current: Disclosure and Governance Developments
Yesterday, the Securities and Exchange Commission (SEC) adopted amendments to the shareholder proposal rule – Rule 14a-8 under the Securities Exchange Act of 1934. The amendments update the submission and resubmission thresholds for shareholder proposals and limit the ability of individual persons – whether a shareholder proponent or representative – to submit more than one proposal to an individual company for an annual meeting of shareholders. As the Commission noted in announcing the rule changes, Rule 14a-8 has not been substantively changed since 1998 in the case of the initial submission eligibility thresholds and 1954 in the case of the resubmission shareholder support thresholds, so the rule changes represent a significant development and welcome modernization of the shareholder proposal system. 

See our recent client alert for a discussion of these latest amendments.
 

Authors

Related Solutions

A premier corporate governance and disclosure practice providing timely, tailored and practical advice to public company clients based on in-depth experience and insight.

More from this series

Explore the Full Series

Notice

Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.

I Accept Cancel