Sentences with phrase «proxy access provision»

NBL NYSE — April 26, 2016 After receiving 42 % support on a shareholder proposal requesting proxy access that would allow an unlimited number of shareholders owning 3 % of shares for 3 years to nominate 25 % of the board at its last annual meeting, Noble Energy adopted a proxy access provision allowing a group of 20 shareholders owning 5 % of shares for 3 years the ability to nominate 20 % of the board.

Not exact matches

However, the shareholder proposal fails to address some of the more problematic provisions in Noble's proxy access bylaw, including a prohibition on the ability for shareholders to form compensation agreements with their nominees and a requirement that nominating shareholders provide a representation as to whether they intend to hold Noble's shares for one year following the meeting.

In situations where, in Glass Lewis» opinion, the existing laws, policies or regulations either provide shareholders with adequate proxy access rights or would prohibit a company's adoption of the requested provision, it will recommend that shareholders vote against such US - style proposals.