The goal of the #UniversalProxyCards (#UPC) is to broaden the choices for a shareholder during a proxy contest and streamline the voting mechanics at the annual meeting. The new regulation attempts to simplify proxy ballot and voting logistics. The UPC’s will: – have the same formatting as the voting ballot used at the annual shareholder meeting, including the same notices and information – provide shareholders a more diverse and complete pool of candidates, allowing voters to choose both activist and company candidates instead of having to choose entirely one or the other – make voting by proxy as easy as voting in person – encourage less spending on proxy contests which will result in more nominations of candidates for boards of directors as well as more frequent proxy contests, allowing smaller activist funds to participate – create more personal contests that target individuals – require activists to solicit votes in an effort to obtain 67% of outstanding share votes UPC’s have been taken into effect since September 1st, 2022 though we look forward to seeing how UPC’s are applied during the current proxy season, and those yet to come. Click here to read more on UPC’s: How Activist Investors Can Use The Universal Proxy Card to Improve Proxy Contests. Join the conversation on LinkedIn and Twitter!