Publications

January 27, 2012

NYSE Ends Broker Discretionary Voting for Certain Corporate Governance Proposals

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The New York Stock Exchange has announced a policy change pursuant to which broker voting of uninstructed shares on certain corporate governance proposals that are supported by management will no longer be permitted, including broker voting on proposals to de-stagger the board of directors, implement majority voting in the election of directors, eliminate supermajority voting requirements, provide for the use of written consents, provide rights to call a special meeting and eliminate certain anti-takeover provisions.