Management proposals filed in response to change in Delaware law
Scores of Delaware-incorporated companies are sending proposals to a vote at their AGM this proxy season in an effort to limit their officers’ liabilities. According to Georgeson, 120 companies had filed such proposals as of mid-April and the consulting firm expects that number to rise as more proxy statements are finalized. By mid-April, 22 of those proposals had been voted on: 18 passed, three failed and one result was not disclosed. The average level of support was 92 percent of votes cast.
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