In response to inquiries from companies and other stakeholders regarding the impact of COVID-19 on annual meeting requirements, the U.S. Securities and Exchange Commission provided on March 13 guidance to assist U.S. public companies in satisfying their annual meeting solicitation obligations under the U.S. federal proxy rules. Specifically, the SEC provided a process for companies to notify shareholders of a change in the date, time or location of their annual meeting and guidance with respect to the holding of “virtual” or “hybrid” annual meetings and the presentation of shareholder proposals. This article offers Boards some practical suggestions to consider before conducting virtual meetings.
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