Under the new Universal Proxy Card (UPC) regulation for #proxyvoting , there is an expected personal quality to come along with its use. #boardmembers and their nominees (incumbents) will be scrutinized more closely by shareholders at the time of voting in order to identify each nominee’s individual skills and qualifications as well as their contributions, overall value, and diversity that they may or may not be providing to the company. UPC’s create a sense of urgency in regard to the board of director (BOD) refresh, making it difficult for companies to hold onto their weakest incumbents, as voting #shareholders are now able to vote on individual candidates. The pressure is on for incumbent board members seeking to maintain their seat at the table if activist #investors (dissidents) have a well-suited board with a solid set of skills and backgrounds. Placing individual nominees directly side by side via the UPC template allows shareholders (voters) one glance to compare between each candidate. When shareholders are given the opportunity to compare the two boards on one ballot it provides the shareholder with the opportunity to vote for a board with the strongest mix of dissident and incumbent nominees. The party with the most compelling slate of director nominees will hold a greater advantage. This emphasis on individual company and dissident nominee credentials will in turn create a stronger board composition. UPC’s have begun to take effect this month, how will they be used in proxy season 2023? Follow us on LinkedIn and Twitter to stay updated on the ever-changing proxy voting news and regulations.