During our recent webcast – “Proxy Season Post-Mortem – 20 Things” – at the 11:01 mark, Allison Handy noted these tips to consider now that universal proxy is upon us:
– More companies should be thinking about proxy contests because universal proxy might reduce costs. Proxy contests won’t become an overnight sensation, but we may well see an increase.
– This is a good time to think about your proxy calendar and add in items related to a proxy contest under the new rules, such as deadlines for notices from and to the activist.
– Connect with proxy solicitors or other advisors you would use in the event of a proxy contest, especially if you haven’t used them in a few years. Make sure you have current contact information so you are ready to react quickly if needed.