Political Quotes

“As has been pointed out each year, public companies convene these shareholder meetings at which the companies' shareholders vote for the companies' directors and on other significant corporate actions that require shareholder approval. As part of this annual process, the Securities and Exchange Commission requires public companies to provide their shareholders with a proxy statement before those meetings. A proxy statement includes all important facts about the matters to be voted on at the meeting, including, for example, information on board of directors candidates, director compensation, executive compensation, related party transactions, securities ownership by management, and eligible shareholder proposals. The information contained in the statement must be filed with the SEC before soliciting a shareholder vote on the election of directors and the approval of these other corporate actions. Solicitations, whether by management or shareholders, must disclose all important facts about the issues on which the shareholders are being asked to vote. Institutional investors, including investment advisers to mutual funds and pension funds, typically hold shares in a large number of public companies. Each year, the investment advisers to these funds vote billions of shares on behalf of their clients on thousands of proxy ballot items. What you have heard about, really, was the theoretical way this is supposed to run.…”