This Week in AGMs

This past and upcoming week in AGMs and special meetings - what happened, what to look out for

This past week: if you missed it, catch last week’s TWAGM here

• Shareholder proposals at…

  • Sysco (SYY): a notable 31% support for re-establishing a policy for eliminating or reducing gestation crates in the Company’s pork supply chain

    

• Low director election support at…

  • Global Clean Energy (GCEH):

    • FAILED majority support for Timothy J. Iezzoni (34.6%) and Amy K. Wood (34.7%)

    • Plurality voting in place at GCEH (thus they’ll remain on the board)

    • Both directors were appointed to the GCEH board by ExxonMobil Renewables LLC, a sub of XOM, which owns 31% of the company

      

  • Tilray Brands (TLRY):

    • LID, Chair of Nom Gov Renah Persofsky: 72.4%

  • Regional Health Properties (RHE)

    • Michael J. Fox: 50.5%

    • David A. Tenwick: 73.8%

    • Kenneth W. Taylor: 78%

  • Consumer Portfolio Service (CPSS):

    • William W. Grounds: 76.8%

    • William B. Roberts: 77.6%

    • Gregory S. Washer: 79.3%

    • All significant provided management and the board own ~68%

      

• Low compensation-related items at…

  • Resmed (RMD): 81% support for Say-on-Pay proposal

  • Lumentum (LITE): FAILED Say-on-Pay (48.6%); and 71% support for the Amended and Restated 2015 Equity Incentive Plan proposal

  • Kimball Electronics (KE): 53% support for 2023 Equity Incentive Plan

  • IF Bancorp (IROQ): 55.8% support for Say-on-Pay

  • Tilray Brands (TLRY): 73.7% support for Say-on-Pay

• Interesting/Miscellaneous…

  • Netcapital (NCPL): 84.6% support for auditor ratification proposal

This upcoming week:

• Holly Energy Partners (HEP) and HF Sinclair (DINO) owners will vote on a merger agreement, outlining that Holly Apple Holdings LLC (a sub of HF Sinclair) will merge with Holly Energy Partners, making it a wholly-owned sub of HF Sinclair. (HEP shares will be converted into DINO stock and cash: After merger, former HEP shareholders will own ~10% of DINO.)

• Splunk (SPLK) shareholders will vote on the proposed merger with Cisco Systems (CSCO). (Merger consideration: $157/share cash.)

• Paylocity Holding (PCTY)

• Performance Food (PFGC)

• Cantaloupe (CTLP)

• Premier (PINC)

  • 71.4% support last AGM for Say-on-Pay; will need to show adequate responsiveness according to Glass Lewis

    

    From the DEF 14A: https://www.sec.gov/Archives/edgar/data/1577916/000119312523258470/0001193125-23-258470-index.html

• DMK Pharmaceuticals (DMK)

  • No longer a proxy contest:

    

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