An increasing number of U.S. companies are moving their annual shareholder meetings from in-person to virtual to adapt to the coronavirus pandemic, although many have yet to announce final plans.
Publicly traded companies are required to hold annual proxy meetings each year during which investors vote on such matters as new board members and nonbinding shareholder resolutions. While the vast majority of those gatherings in previous years have been in-person, the spread of the coronavirus has prompted an increasing number of companies to consider alternative options.
ISS Corporate Solutions, a subsidiary of proxy advisory firm ISS, surveyed 230 companies. In a March 26 email to clients, the firm said 37% of those companies had opted to hold virtual-only meetings, 4% were planning a hybrid meeting, 47% had yet to make a decision, and 11% either would not change their plans or already held their meeting. Read Full Article - S&P Global, April 1, 2020