A follow-up to Neuberger Berman’s one-share-one-vote shareholder proposal
Shareholder proposal passes with 62% support
Early last week, I posted a piece that NB had gone the unconventional route of filing a shareholder proposal at Lions Gate Entertainment (LGF). In that piece I highlighted: (1) that the company had (equally unconventionally) offered no recommendation on the proposal for one-share-one-vote; and (2) that NB had filed a solicitation disclosing they’d received positive vote recommendations from both ISS and Glass Lewis.
This evening, the company filed vote results from yesterday's AGM:
In addition to NB’s one-share-one-vote shareholder proposal receiving **over 62%** support, Say-on-Pay received just under 66% support (which will trigger additional ‘responsiveness’ expectations from both ISS and Glass Lewis next AGM).
Also notable, the designee director of Liberty Global Incorporated Limited (Michael T. Fries) received 79% support.
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