The U.S. Securities & Exchange Commission (SEC) has talked about the Universal Ballot for many years; but come September 2022, the SEC plans to make it a reality. The new rule will benefit shareholders by giving them the ability to vote by proxy for their preferred combination of board candidates, similar to voting in person.
In this episode, Doug Schnell, Partner, Wilson Sonsini Goodrich & Rosati, discusses the pros and cons of the new SEC rule.
- What is the Universal Ballot and how will it affect corporate boards?
- What should boards do now to prepare for the scenario where activists utilize the Universal Ballot in a contested proxy battle?
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