Business, Legal & Accounting Glossary
Shareholder initiatives properly presented according to the corporation by-laws must usually be presented to the shareholders for a vote at the next annual meeting.
Details of the proposal is published in the proxy statement and provision for voting for or against appears on the proxy. Management may recommend a vote for or against the initiative.
If approved, the initiatives would often require the corporation to pursue green or socially responsible programs, but almost anything can appear in an initiative. They rarely receive the votes needed for approval.
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This glossary post was last updated: 28th November, 2021 | 0 Views.