Glass Lewis expands on its views of proxy access proposals

by Cydney Posner At the end of last week, as discussed here, proxy advisory firm Glass Lewis told the WSJ that, in some circumstances, it may recommend against company nominees for director when the company excludes a shareholder proposal for proxy access on the basis of a conflicting management proposal. That […]

Glass Lewis jumps into the fray on exclusion of shareholder proposals for proxy access

by Cydney Posner The WSJ reported on Friday afternoon that proxy advisory firm Glass Lewis may recommend against company nominees for director when the company excludes a shareholder proposal for proxy access on the basis of a conflicting management proposal, where that management proposal represents a “diluted alternative” for proxy […]

Kerfuffle over “conflicting proposal” exclusion: what does it mean for pending shareholder proposals?

by Cydney Posner As we described in our last post on the saga of James McRitchie’s proxy access proposal submitted to Whole Foods Market, Inc., the SEC staff had granted the no-action request of Whole Foods, confirming that the company could omit McRitchie’s proposal from its proxy statement. That proposal would have […]

Nasdaq proposes to require disclosure of written denial of initial listing

by Cydney Posner At the end of last year, Nasdaq filed with the SEC a rule proposal that would require companies to disclose denial of listing applications. Under the proposal, a company that receives a written determination denying its application for listing must, within four business days, make a public, […]

Conflict minerals report can now be filed on EDGAR as Exhibit 1.01 to Form SD

by Cydney Posner Form SD provides that companies are to file the conflict minerals report as Exhibit 1.01, as does the SEC final release.  Last year, however, Exhibit 1.01 was not technically available for EDGAR filings, and the SEC’s EDGAR office advised that the CMR should instead be filed as […]

Whole Foods proxy access saga continues

by Cydney Posner In her NYT column this past Sunday, Gretchen Morgenson provides an interesting update on the saga of James McRitchie’s proxy access proposal submitted to Whole Foods. When we last tuned in, the SEC staff had granted the no-action request of Whole Foods Market, Inc., allowing the company to omit […]

Appellants file supplemental brief opposing conflict minerals disclosure requirement

by Cydney Posner In the final week of 2014, appellants National Association of Manufacturers, U.S. Chamber of Commerce and Business Roundtable filed their supplemental brief in the conflict minerals case, National Association of Manufacturers, Inc. v. SEC. The brief was filed in response to the order of the D.C. Circuit Court of […]