Description: A publication by Milbank LLP’s Milbank’s Global Corporate and Executive Compensation & Employee Benefits practice groups to provide updates and insights for corporate general counsels.
Updates and insights for corporate general counsel
There is reason to believe the SEC’s new universal proxy Rule 14a-19 will result in more stockholder nominees being elected to the boards of public companies.
First, the rule allows voting stockholders to make their own ad hoc choice of nominees from the slates proposed by management, on one hand, and by the nominating stockholder, on the other. The ability to more easily “split the ticket” will no doubt appeal to proxy advisors and others eager to display Solomonic wisdom (and forgetting that Solomon did not really advocate splitting the baby).