{"id":8237,"date":"2026-09-17T16:26:00","date_gmt":"2026-09-17T20:26:00","guid":{"rendered":"https:\/\/seciblog.pli.edu\/?p=8237"},"modified":"2026-09-17T16:26:02","modified_gmt":"2026-09-17T20:26:02","slug":"sec-proposes-proxy-and-shareholder-proposal-changes","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/sec-proposes-proxy-and-shareholder-proposal-changes\/","title":{"rendered":"SEC Proposes Proxy and Shareholder Proposal Changes"},"content":{"rendered":"<p>On September 16, 2026, the SEC published two proposed rules which would change the proxy process.<\/p>\n<p>A proposed rule titled \u201c<a href=\"https:\/\/www.sec.gov\/files\/rules\/proposed\/2026\/34-106383.pdf\">Rescission of Rule 14a-8\u2019s Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4<\/a>\u201d would rescind Rule 14a-8 and essentially leave all aspects of the shareholder proposal process to state law. This follows the August 14, 2026, staff <a href=\"https:\/\/www.sec.gov\/newsroom\/speeches-statements\/corpfin-statement-rule-14a-8-process-081426\">announcement<\/a> that they would stop responding to all shareholder proposal no-action letter requests. \u00a0This proposed rule would also change how a company could exercise discretionary voting authority for proposals that were not included in proxy materials.\u00a0 This proposal will have a 60-day comment period that begins after Federal Register publication.\u00a0 You can read more in this <a href=\"https:\/\/www.sec.gov\/files\/34-106383-fact-sheet.pdf\">Fact Sheet<\/a>.<\/p>\n<p>A second proposed rule titled \u201c<a href=\"https:\/\/www.sec.gov\/files\/rules\/proposed\/2026\/33-11439.pdf\">Proxy Solicitation Modernization<\/a>\u201d would make several changes to the proxy process including:<\/p>\n<ul>\n<li>Eliminating the proxy rule requirement for an annual report to shareholders,<\/li>\n<li>Eliminating the delivery deadline when documents are incorporated by reference into a proxy statement,<\/li>\n<li>Eliminating Notices of Exempt Solicitation,<\/li>\n<li>Shortening the minimum broker search period from 20 to five business days, and<\/li>\n<li>Revising the cover pages of Schedules 14A and 14C.<\/li>\n<\/ul>\n<p>This proposal will also have a 60-day comment period that begins after Federal Register publication.\u00a0 You can read more in this <a href=\"https:\/\/www.sec.gov\/files\/33-11439-fact-sheet.pdf\">Fact Sheet<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 16, 2026, the SEC published two proposed rules which would change the proxy process. A proposed rule titled \u201cRescission of Rule 14a-8\u2019s Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4\u201d would rescind Rule 14a-8 and essentially leave all aspects of the shareholder proposal process to state law. This follows the August &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/sec-proposes-proxy-and-shareholder-proposal-changes\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">SEC Proposes Proxy and Shareholder Proposal Changes<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[96,256],"tags":[],"coauthors":[154],"class_list":["post-8237","post","type-post","status-publish","format-standard","hentry","category-sec-hot-topic","category-sec-news"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/8237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=8237"}],"version-history":[{"count":1,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/8237\/revisions"}],"predecessor-version":[{"id":8238,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/8237\/revisions\/8238"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=8237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=8237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=8237"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=8237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}