Update: Market Chatter: Microsoft Agrees to Keep Shareholder Proposal Rights Through 2027
Source: MT Newswires ·
(Updates with Microsoft's response to a request for comment in the fifth paragraph.) Microsoft (M
From the source
(Updates with Microsoft's response to a request for comment in the fifth paragraph.) Microsoft (MSFT) will maintain current eligibility thresholds for shareholder proposals through next year's annual meeting under an agreement with activist investor Paul Chesser, Reuters reported, citing a copy of the agreement. The agreement was reached amid proposed changes being considered by the US Securities and Exchange Commission to the shareholder proposal process, according to the report. Chesser, a director at the National Legal and Policy Center, told Reuters the agreement could give smaller investors an opportunity to have their proposals considered. Microsoft said in an emailed statement to Reuters that the one-year agreement provides a "clear and predictable process" while the SEC reviews its rules. "With the Securities and Exchange Commission announcing that its shareholder proposal regulatory framework is under review, we agreed to maintain the current eligibility thresholds for one…