Proxy firm

Analysis of 2020 Proxy Season Shows Proxy Advisory Firms Still Issuing Contested Recommendations

Retrieved on: 
Thursday, July 16, 2020

2020 Proxy Season Analysis Shows Companies Believe Errors Continue , analyzes companies' supplemental filings during the 2020 proxy season and finds at least 42 instanceswhere proxy advisors have formulated recommendations based on alleged errors or analytical flaws disputed by companies.

Key Points: 
  • 2020 Proxy Season Analysis Shows Companies Believe Errors Continue , analyzes companies' supplemental filings during the 2020 proxy season and finds at least 42 instanceswhere proxy advisors have formulated recommendations based on alleged errors or analytical flaws disputed by companies.
  • The report comes shortly before the Commission is scheduled to vote on whether to finalize their proposed rule on proxy advisors and whether to adopt supplemental guidance regarding investment advisers proxy voting responsibilities.
  • 2020 Proxy Season Analysis Shows Companies Believe Errors Continue
    ACCF undertook a search of the SEC's EDGAR database through July 9 and found 42 examples of public companies filing supplemental proxy materials during the 2020 proxy season, in order to correct the record regarding a proxy advisory firm vote recommendation.
  • Specifically, the data includes only those companies that have taken the extraordinary step of filing a supplemental proxy.

Leading Independent Proxy Advisory Firms ISS and Glass Lewis Both Support Biocept Proposal to Authorize the Reverse Split of Common Shares

Retrieved on: 
Thursday, July 16, 2020

This item is Proposal 4 on the Biocept's proxy card (the "Proposal").

Key Points: 
  • This item is Proposal 4 on the Biocept's proxy card (the "Proposal").
  • ISS and Glass Lewis are two leading independent, third-party proxy advisory firms that, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
  • If Biocept has not regained compliance with the closing bid price requirement by that time, its common stock will be subject to delisting from Nasdaq.
  • Biocept is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma.

Leading Independent Proxy Advisory Firm ISS Recommends Toshiba Shareholders Vote “FOR” the Election of All 12 Toshiba Director Nominees

Retrieved on: 
Thursday, July 16, 2020

Toshiba Corporation (TOKYO: 6502) today announced that Institutional Shareholder Services Inc. (ISS), the leading independent proxy advisory firm, has recommended that shareholders vote for all 12 of Toshibas highly-qualified director nominees at the Companys Ordinary General Meeting of Shareholders for the 181st Fiscal Period, to be held on July 31, 2020.

Key Points: 
  • Toshiba Corporation (TOKYO: 6502) today announced that Institutional Shareholder Services Inc. (ISS), the leading independent proxy advisory firm, has recommended that shareholders vote for all 12 of Toshibas highly-qualified director nominees at the Companys Ordinary General Meeting of Shareholders for the 181st Fiscal Period, to be held on July 31, 2020.
  • Toshiba's Board of Directors stated, We are pleased ISS has recommended that Toshiba shareholders vote for all of our highly-qualified and experienced Directors.
  • We encourage all of our shareholders to vote for our director nominees at our upcoming Ordinary General Meeting of Shareholders.
  • The Board unanimously recommends that Toshiba shareholders to vote FOR director candidates 1-12 and AGAINST candidates 13-17, as listed in our Convocation Notice.

Leading Independent Advisory Firms ISS and Glass Lewis Recommend that SSR Mining and Alacer Gold Shareholders Vote for the Matters Proposed in Connection with Proposed Merger

Retrieved on: 
Thursday, June 25, 2020

ISS and Glass Lewis both state that the proposed merger is in the best interest of SSR Mining and Alacer shareholders.

Key Points: 
  • ISS and Glass Lewis both state that the proposed merger is in the best interest of SSR Mining and Alacer shareholders.
  • SSR Mining Shareholders' Deadline to Vote is prior to 9:00 a.m. (PDT) on July 8, 2020.
  • Both ISS and Glass Lewis are independent proxy advisory firms which, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
  • We remind shareholders that your vote is important regardless of how many SSR Mining or Alacer common shares you own.

Synalloy Issues Letter to Shareholders Recommending Shareholders Vote on Synalloy’s BLUE Proxy Card

Retrieved on: 
Wednesday, June 24, 2020

In the letter, Synalloy welcomes the recommendations of independent proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. LLC (Glass Lewis), both of whom concluded that shareholders should vote on managements BLUE proxy card.

Key Points: 
  • In the letter, Synalloy welcomes the recommendations of independent proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. LLC (Glass Lewis), both of whom concluded that shareholders should vote on managements BLUE proxy card.
  • Synalloy urges all shareholders to support the Blue Card Compromise and vote on the Companys BLUE proxy card in connection with the upcoming 2020 Annual Meeting of Shareholders.
  • If you support this Blue Card Compromise, we recommend you vote on managements BLUE proxy card.
  • To ensure continuity and independence, Synalloy encourages all shareholders to follow the ISS and Glass Lewis recommendations and accept the Blue Card Compromise by voting on the BLUE proxy card.

Leading Proxy Advisory Firm Glass Lewis Joins ISS in Recommending Synalloy Shareholders Vote on Synalloy’s BLUE Proxy Card

Retrieved on: 
Tuesday, June 23, 2020

Synalloy Corporation (Nasdaq: SYNL) (Synalloy or the Company) today welcomed independent proxy advisory firm Glass, Lewis & Co. LLCs (Glass Lewis) recommendation that Synalloys shareholders vote on Synalloys BLUE proxy card to support the election of five incumbent directors and three new directors selected by Privet Fund Management (Privet) and UPG Enterprises (UPG) (the Blue Card Compromise).

Key Points: 
  • Synalloy Corporation (Nasdaq: SYNL) (Synalloy or the Company) today welcomed independent proxy advisory firm Glass, Lewis & Co. LLCs (Glass Lewis) recommendation that Synalloys shareholders vote on Synalloys BLUE proxy card to support the election of five incumbent directors and three new directors selected by Privet Fund Management (Privet) and UPG Enterprises (UPG) (the Blue Card Compromise).
  • Glass Lewis joins Institutional Shareholder Services, Inc. (ISS) in supporting the Blue Card Compromise and in recommending shareholders vote on the Companys BLUE proxy card.
  • Commenting on the Glass Lewis report, Synalloy issued the following statement:
    We are pleased that Glass Lewis has joined ISS to recommend that shareholders vote on the BLUE proxy card to retain a majority of Synalloys incumbent directors.
  • Synalloy recommends that shareholders vote all of their shares on managements BLUE proxy card in accordance with ISS and Glass Lewiss recommendation.

ISS Recommends Synalloy Stockholders Vote for Change on Privet and UPG’s WHITE Proxy Card

Retrieved on: 
Wednesday, June 17, 2020

We are pleased that ISS, one of the leading independent proxy advisory voting firms, is recommending stockholders vote on Privet and UPGs WHITE Proxy Card.

Key Points: 
  • We are pleased that ISS, one of the leading independent proxy advisory voting firms, is recommending stockholders vote on Privet and UPGs WHITE Proxy Card.
  • We believe the fact that ISS has recommended stockholders do not vote on Synalloys blue proxy card sends a clear message about the need for meaningful change atop Synalloy following the extended period of dramatic operational and financial underperformance overseen by the incumbent Board.
  • Given the risks associated with continuing to roll the dice on Synalloys current leadership, we urge all stockholders to follow the lead of ISS and vote on the WHITE Proxy Card today.
  • Please visit www.StrengthenSynalloy.com to review all materials pertaining to this contest and learn about how to vote on the WHITE Proxy Card.

Solutions 30 : ANNUAL GENERAL MEETING / Additional information

Retrieved on: 
Tuesday, June 16, 2020

SOLUTIONS 30 SE (the Company) will hold its annual general meeting (AGM) on 26 June 2020 at 9:00 a.m. Central European Summer Time (CEST).

Key Points: 
  • SOLUTIONS 30 SE (the Company) will hold its annual general meeting (AGM) on 26 June 2020 at 9:00 a.m. Central European Summer Time (CEST).
  • The Company has disclosed additional information and clarifications, which have led the proxy advisory firm to subsequently revise its voting recommendations.
  • Thus, this three-year plan cannot be compared to the median annual compensation packages of Solutions 30 peers.
  • This information and termination provisions, were disclosed onthe Companys web site in the section related to General Meetings under the name Additional information on key elements of the proposed LTIP .

Leading Proxy Advisory Firms Support Fir Tree’s Outside Director Candidates for JR Kyushu

Retrieved on: 
Friday, June 12, 2020

Fir Tree Partners ("Fir Tree"), manager of certain funds that reported collective beneficial ownership of approximately 6.1% of the outstanding shares of Kyushu Railway Company ("JR Kyushu" or the Company") (TSE ticker 9142) on its latest large shareholding report, today announced that both leading proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis), have recommended that shareholders support Fir Trees outside director candidates at JR Kyushus Annual General Meeting of Shareholders (Annual Meeting) to be held on June 23, 2020.

Key Points: 
  • Fir Tree Partners ("Fir Tree"), manager of certain funds that reported collective beneficial ownership of approximately 6.1% of the outstanding shares of Kyushu Railway Company ("JR Kyushu" or the Company") (TSE ticker 9142) on its latest large shareholding report, today announced that both leading proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis), have recommended that shareholders support Fir Trees outside director candidates at JR Kyushus Annual General Meeting of Shareholders (Annual Meeting) to be held on June 23, 2020.
  • ISS has recommended shareholders vote in favor of two of Fir Trees independent director nominees (Ms. Takei and Mr. Motoyoshi) and against two incumbent directors (Ms. Kuwano and Mr. Ide).
  • JR Kyushu may have had little legitimate interest in considering Fir Tree's candidates beyond simple optics management.
  • This press release is based solely on Fir Trees own analysis and the information made publicly available by JR Kyushu.

Proxy Advisory Firm Egan-Jones Joins ISS and Glass Lewis in Recommending Mack-Cali Shareholders Vote “GOLD” to Elect Bow Street’s Nominees

Retrieved on: 
Monday, June 8, 2020

Two other leading proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co., LLC (Glass Lewis), have also recommended that Mack-Cali shareholders vote Bow Streets GOLD proxy card.

Key Points: 
  • Two other leading proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co., LLC (Glass Lewis), have also recommended that Mack-Cali shareholders vote Bow Streets GOLD proxy card.
  • In addition, Bow Street announced that ISS today issued a proxy alert reaffirming its recommendation that Mack-Cali shareholders vote the GOLD proxy card to elect ALL EIGHT of Bow Streets nominees.
  • We are particularly pleased that the nations leading proxy advisory firm, ISS, today reaffirmed its support FOR ALL of Bow Streets nominees.
  • In making its recommendation that Mack-Cali shareholders vote the GOLD proxy card FOR ALL EIGHT of Bow Streets nominees, Egan-Jones noted:
    We believe that Bow Street has presented a compelling case to elect its slate.