New Report: Proxy Monitor on Early Proxy Season Votes

Companies are facing 14 percent more proposals this year than in 2014.

New York, NY - The Manhattan Institute’s Proxy Monitor has released the first in a series of brief “findings” on the 2015 proxy season. These reports will provide timely updates on the number, type, and success of shareholder proposals as meetings occur throughout the season.

This report focuses on meetings held at Fortune 250 companies in late April. Author James R. Copland observes the following trends:

• Companies are facing more shareholder proposals on average (1.39 per company) than they have in any year since 2010- an increase of 14 percent from 2014. This increase is largely due to proxy-access proposals introduced by New York City’s pension funds.
• Proxy-access proposals have had mixed success, winning the support of a majority of shareholders at three large companies (AES, American Electric Power, Monsanto) while falling short of a majority at others (Apple, Coca-Cola, Exelon, PACCAR).
• In 2015, corporate-governance proposals, rather than social and policy proposals, have constituted the plurality of proposals introduced (44 percent). 41 percent of proposals introduced this year have involved social or policy concerns, down from 47 percent in 2014

Click here to read the full report.