Scores of Delaware-incorporated companies are sending proposals to a vote at their AGM this proxy season in an effort to limit their officers’ liabilities.
According to Georgeson, 120 companies had filed such proposals as of mid-April and the consulting firm expects that number to rise as more proxy statements are finalized. By mid-April, 22 of those proposals had been voted on: 18 passed, three failed and one result was not disclosed. The average level of support was 92 percent of votes cast. The three proposals that failed were due to companies needing supermajorities of shares outstanding to . . .
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