Heads Up for the 2015 Proxy Season: ISS Spotlight on Independent Chair Shareholder Proposals and Equity Compensation Plans
In a much anticipated decision, the Staff of the SEC’s Division of Corporation Finance granted no-action relief to Whole Foods Market, Inc. to allow the exclusion from its proxy statement of a shareholder proposal on proxy access. The Staff agreed with the company that the shareholder proposal was excludable because it “directly conflicts” with the company’s own proposal.
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