Writing on the Wall for Shareholder Approval of Equity Plans?
ISS’ Friday Report runs a story about how five companies recently had trouble trying to obtain shareholder approval for equity-based plans. Charter Municipal Mortgage Acceptance Company has had to reconvene its annual meeting two times so far (to solicit more votes) – and two other companies have scheduled a reconvened meeting. Two other companies – LightPath Technologies and Sysco – also failed to receive approval but did not reconvene their meetings.
All the more reason why the transcript of the NASPP webcast on this topic is so valuable. If you are not a NASPP member, to gain immediate access to the archived audio or transcript, take advantage of the no-risk trial membership (you can obtain a full refund with no questions asked).
Cuts in Analyst Coverage
For those who were still eating turkey, the Friday edition of the WSJ had an interesting article about the cuts in analyst coverage over the past year.
A Greenwich Associates survey revealed that 29% of respondents said they had lost coverage by analysts (respondents were mostly large companies). Most revealing was a Reuters Research survey that indicated that 37% of tech companies had lost coverage – and those are the type of companies with above average trading volume that probably has been the least impacted by reduced coverage.