Technology increases company shareholder participation through online annual meetings, according to a report issued on Thursday by CalSTRS, the California State Teachers’ Retirement System.
The report—titled “Guidelines for Protecting and Enhancing Online Shareholder Participation in Annual Meetings”—lists the benefits of online shareholder participation in meetings, while providing models for best practices. According to the report, companies should first evaluate shareholder needs and costs, then determine whether meetings should be virtual-only, exclusively in-person or a “hybrid” of the two.
States vary widely in allowing virtual participation in meetings, but the trend of using technology to allow increased shareholder participation is growing.
Twenty-two states currently allow virtual-only shareholder meetings. Eleven states require a physical location for shareholder meetings, but allow remote participation in such meetings via the Internet (i.e., a hybrid meeting). California allows virtual-only meetings, with certain other conditions.
To obtain a digital copy of this report, visit www.calstrs.com.