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SEC Issues Guidance on Conducting Shareholder Meetings during COVID-19

The SEC Division of Corporation Finance and the Division of Investment Management encouraged issuers to allow shareholder proponents to present proposals - per SEA Rule 14a-8(h) ("Attendance") - through "alternative means," such as by phone, during the 2020 and 2021 proxy seasons. The SEC stated that should a shareholder proponent be unable to present a proposal due to COVID-19 related hardships, SEC staff would consider this a "good cause" - within the meaning of SEA Rule 14a-8(h)(3) - to permit the proposal's inclusion in proxy materials for meetings held in the following two calendar years.

Primary Sources

  1. SEC Guidance: Staff Guidance for Conducting Shareholder Meetings in Light of COVID-19 Concerns

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Tags

Regulated Activities
Business Continuity Meetings Proxies / Voting
Sub-Activity
Coronavirus, Shareholder Proposals
Regulated Entities
Issuers of Securities Traders / Investors / Counterparties
Sub-Entity
SEC-Registered Issuers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC
Sub-Author
SEC Corp. Fin., SEC Inv. Man.