Shareholder proposal at Analog Devices receives overwhelming majority support
“Simple majority vote” proposal receives just under 90% support (without recommended support from management/board)
Analog Devices ADI 0.00%↑ received the following shareholder proposal from John Chevedden:
Shareholders request that our board take each step necessary so that each voting requirement in our charter and bylaws (that is explicit or implicit due to default to state law) that calls for a greater than simple majority vote be replaced by a requirement for a majority of the votes cast for and against applicable proposals, or a simple majority in compliance with applicable laws. If necessary this means the closest standard to a majority of the votes cast for and against such proposals consistent with applicable laws. This includes making the necessary changes in plain English.
The proposal received 89.6% support, the highest percentage support for any shareholder proposal thus far into 2024 (to my knowledge)
[Sidebar: Say-on-Pay received 72.5% support (vs 80.7% in ‘23)]
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