Given declining equity valuations, many companies are considering reverse stock splits. Reverse stock splits are often done in order to meet the minimum bid price requirement in stock exchange rules so that a company can maintain its listing. Given the importance of the vote to the company and the fact…
We have seen a change this year in the application by Glass Lewis of its policy relating to Post-IPO Governance. Historically, Glass Lewis was more lenient than ISS in issuing automatic withhold recommendations on directors based on governance provisions adopted at the time of the IPO. We have seen several…
Numerous public companies have decided to hold virtual shareholder meetings this year. For 2022 virtual-only shareholder meetings, Glass Lewis expects companies to provide disclosures in their proxy statements addressing the following: (i) the ability of shareholders to ask questions during the meeting, including time guidelines for shareholder questions, rules around…