0000000016 00000 n Where the company already has a sufficiently robust majority voting process in place, we may not support a shareholder proposal seeking an alternative mechanism. We depend on companies to provide accessible and clear disclosures so that investors can easily understand how their political activities support their long-term strategy, including on stated public policy priorities. The following identifies the maximum number of boards on which a director may serve, before BIS considers them to be over-committed: How diversity, including demographic factors and professional characteristics, is considered in board composition, given the companys long-term strategy and business model, How directors professional characteristics, which may include domain expertise such as finance or technology, and sector- or market-specific experience, are complementary and link to the companys long-term strategy, The process by which candidates for board positions are identified, including whether professional firms or other resources outside of incumbent directors networks are engaged to identify and/or assess candidates, and whether a diverse slate of nominees is considered for all available board nominations, The Independent Chair or Lead Independent Director, members of the nominating/governance committee, and/or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and/or failure to plan for adequate board member succession, The chair of the nominating/governance committee, or where no chair exists, the nominating/governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received against votes from more than 25% of shares voted, and the board has not taken appropriate action to respond to shareholder concerns. Comprehensive disclosures provide investors with a sense of the companys long-term risk management practices and, more broadly, the quality of the boards oversight. WebEXECUTIVE SUMMARY Policy Updates for 2023 W W W . We generally support management proposals to convert to a PBC if our analysis indicates that shareholders interests are adequately protected. y7>>zz/A0G#sdS`:^`Es. He has worked extensively in the governance space, particularly on the key governance technologies that can support leadership with the visibility, data and operating capabilities for more effective decision-making. It is in this context that we are interested in diversity in the boardroom. Where we determine that a board has failed to do so in a way that may impede a companys long-term value, we may vote against the responsible committees and/or individual directors. Finally, pension contributions and other deferred compensation arrangements should be reasonable in light of market practices. 0000005611 00000 n 0000004677 00000 n SASBs [14] industry-specific metrics are beneficial in helping companies identify key performance indicators (KPIs) across various dimensions of sustainability that are considered to be financially material. 0000012093 00000 n By end January 2023: Publication of updated Frequently Asked Questions (FAQ) documents on ISS In our view, a strong board provides a competitive advantage to a company, providing valuable oversight and contributing to the most important management decisions that support long-term financial performance. We look for disclosures from companies to help us understand their approach and do not prescribe any particular board composition. [8] We recognize that it may take time and that companies with smaller market capitalizations and in certain sectors may face more challenges in pursuing diversity. We recognize that some companies may report using different standards, which may be required by regulation, or one of a number of private standards. Weball proxies based on the RBC GAM Proxy Voting Guidelines . We encourage disclosures aligned with the reporting framework developed by the Task Force on Climate related Financial Disclosures (TCFD), supported by industry-specific metrics, such as those identified by the Sustainability Accounting Standards Board (SASB), now part of the International Sustainability Standards Board (ISSB) under the International Financial Reporting Standards (IFRS)Foundation. Directors should be re-elected annually; classification of the board generally limits shareholders rights to regularly evaluate a boards performance and select directors. Companies should disclose the rationale for their selection of primary listing, country of incorporation, and choice of governance structures, particularly where there is conflict between relevant market governance practices. Where we believe a companys disclosures or practices fall short relative to the market or peers, or we are unable to ascertain the board and managements effectiveness in overseeing related risks and opportunities, we may vote against members of the appropriate committee or support relevant shareholder proposals. (go back), 15The global aspiration to achieve a net-zero global economy by 2050 is reflective of aggregated efforts; governments representing over 90% of GDP have committed to move to net-zero over the coming decades. Lastly, we look for shareholder approval of poison pill plans within one year of adoption of implementation. Where a company has failed to appropriately provide robust disclosures and evidence of effective business practices, BIS may express concerns through our engagement and voting. While BlackRock is supportive of the shareholder rights to act by written consent and call a special meeting, BlackRock is subject to certain regulations and laws that place restrictions and limitations on how BlackRock can interact with the companies in which we invest on behalf of our clients, including our ability to participate in consent solicitations. However, we may oppose this right in cases where the proposal is structured for the benefit of a dominant shareholder, or where a lower threshold may lead to an ineffective use of corporate resources. Independent directors should have access to relevant management information and outside advice, as appropriate, to ensure they can properly oversee risk. The information provided here is neither tax nor legal advice. Therefore, we will generally support the reduction or the elimination of supermajority voting requirements to the extent that we determine shareholders ability to protect their economic interests is improved. The perpetrator claims that he had gone to siphon gas from the overturned lorry but could only manage to fill one bottle amidst the mob. 0000110450 00000 n Stay on the $country-name$ $persona-name$ site. However, a large potential payout under a golden parachute arrangement also presents the risk of motivating a management team to support a sub-optimal sale price for a company. (go back), Your email is never published nor shared. Governance is the core means by which boards can oversee the creation of durable, long-term value. We hold members of the compensation committee, or equivalent board members, accountable for poor compensation practices and/or structures. We generally think that a right to act via written consent is not a sufficient alternative to the right to call a special meeting. Required fields are marked *, You may use these HTML tags and attributes:

. We engage an outside advisor to make initial, customized recommendations based on these Proxy Voting Principles and Guidelines. We generally view the boards discretion to establish voting rights on a when-issued basis as a potential anti-takeover device, as it affords the board the ability to place a block of stock with an investor sympathetic to management, thereby foiling a takeover bid without a shareholder vote. 0000013331 00000 n We may also support a pill where it is the only effective method for protecting tax or other economic benefits that may be associated with limiting the ownership changes of individual shareholders. Web the criteria for the active exercise of voting rights are clearly regulated; conflicts of interest are identified and addressed. We also ask boards to conduct a regular review of corporate governance and control structures, such that boards might evolve foundational corporate governance structures as company circumstances change, without undue costs and disruption to shareholders. The roles and responsibilities cited here are not all-encompassing and are noted for reference as to how these leadership positions may be defined. A companys approach to human capital management (HCM) is a critical factor in fostering an inclusive, diverse, and engaged workforce, which contributes to business continuity, innovation, and long-term value creation. [16] Yet, the path ahead is deeply uncertain and uneven, with different parts of the economy moving at different speeds. The Assam Rifles - Friends of the Hill People? (go back), 16For example, BlackRocks Capital Markets Assumptions anticipate 25 points of cumulative economic gains over a 20-year period in an orderly transition as compared to the alternative. Introducing the possibility of such reimbursement may incentivize disruptive and unnecessary shareholder campaigns. HtPMO[1W>omK AT bPE4D4iT$\zfr]dW XM)sq= )b# ZKEES-hKl>&V;_!8?-Dh0Xc 9Td&1gXlfd6#:h!A8 lm%J\S U1 Mi[M {C/](gT%*B^yS Where discretion has been used by the compensation committee, we look for disclosures relating to how and why the discretion was used and how the adjusted outcome is aligned with the interests of shareholders. [15] It is, of course, up to each company to define their own strategy: that is not the role of BlackRock or other investors. An avalanche occured earlier this evening at ABCI Quarry, Maudarh, Hnahthial District burying atleast 15 people and 3 machinery. See Appendix A of Calverts Proxy Voting Policies and Procedures for a general discussion of the proxy voting guidelines to which these ETFs will be subject. BpUgwfZjYhX~,wEY ZQV+U%q?K$v ? To this end, performance reviews and skills assessments should be conducted by the nominating/governance committee or the Lead Independent Director. 0000042408 00000 n (go back), 13The International Financial Reporting Standards (IFRS) Foundation announced in November 2021 the formation of an International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of high-quality sustainability disclosure standards to meet investors information needs. I. Foreign investing, especially in developing countries, has special risks such as currency and market volatility and political and social instability. Majority vote standards generally assist in ensuring that directors who are not broadly supported by shareholders are not elected to serve as their representatives. We will evaluate the economic and strategic rationale behind the companys proposal to reincorporate on a case-by-case basis. A companys board of directors should put in place a compensation structure that balances incentivizing, rewarding, and retaining executives appropriately across a wide range of business outcomes. Where a standardized proxy access provision exists, we will generally oppose shareholder proposals requesting outlier thresholds. 0000001137 00000 n WebRenaissance Technologies is an investment management firm that employs mathematical and statistical methods in the design and execution of its investment programs. WebIn the first half of 2022, we updated our proxy voting guidelines to enhance our commitments in three key areas: Board diversity, climate-related accountability, and cross-shareholding. Additionally, we may oppose shareholder proposals requesting the right to act by written consent if the company already provides a shareholder right to call a special meeting that offers shareholders a reasonable opportunity to raise issues of substantial importance without having to wait for management to schedule a meeting. Among these smaller companies, we look for the presence of diversity and take into consideration the progress that companies are making. 0000012287 00000 n All rights reserved. We acknowledge that the use of peer group evaluation by compensation committees can help calibrate competitive pay; however, we are concerned when the rationale for increases in total compensation is solely based on peer benchmarking. This structure should be aligned with shareholder interests, particularly the generation of sustainable, long-term value. Where companies are unwilling to voluntarily implement one share, one vote within a specified timeframe, or are unresponsive to shareholder feedback for change over time, we generally support shareholder proposals to recapitalize stock into a single voting class. proper books and records relating to proxy voting are kept. Our publicly available commentary provides more information on our approach to HCM. The most common form of ESPP qualifies for favorable tax treatment under Section 423of the Internal Revenue Code. Our publicly available commentary provides more information on our approach to natural capital. We will take the total number of board commitments across our global policies into account for director elections. There are two commonly accepted structures for independent leadership to balance the CEO role in the boardroom: 1) an independent Chair; or 2) a Lead Independent director when the roles of Chair and CEO are combined, or when the Chair is otherwise not independent. Compensation for directors should generally be structured to attract and retain directors, while also aligning their interests with those of shareholders. However, the final voting decision is independent and voting authority rests [6] In our experience, greater diversity in the boardroom contributes to more robust discussions and more innovative and resilient decisions. Review recommendations for proxies where the Guidelines specify that the issues are to be determined on a caseby--case basis and ensure such proxies are voted in accordance with these Policies and Guidelines; and Monitoring Proxy Vendor Oversights proxy voting activities (see below). It is our view that long-term shareholders should have the opportunity, when necessary and under reasonable conditions, to nominate directors on the companys proxy card.[19]. We look to public disclosures for insight into the scope of the audit committee responsibilities, including an over view of audit committee processes, issues on the audit committee agenda, and key decisions taken by the audit committee. Our publicly available commentary provides more information on our approach. Where several measures are grouped into one proposal, BIS may reject certain positive changes when linked with proposals that generally contradict or impede the rights and economic interests of shareholders. Their voting recommendations on annual meeting proposals influence many institutional investors and play an important role in voting In cases where a board unilaterally adopts exclusive forum provisions that we consider unfavorable to the interests of shareholders, we will vote against the Independent Chair or Lead Independent director and members of the nominating/governance committee. WebProxy voting is a key climate-risk management tool and part of our stewardship-escalation process. Although we have historically opposed most plans, we may support plans that include a reasonable qualifying offer clause. Such clauses typically require shareholder ratification of the pill and stipulate a sunset provision whereby the pill expires unless it is renewed. Where we find that shareholder protections are diminished, we may support reincorporation if we determine that the overall benefits outweigh the diminished rights. We may vote against certain directors where changes to governing documents are not put to a shareholder vote within a reasonable period of time, particularly if those changes have the potential to impact shareholder rights (see Director elections). We note there may be cases in which the final vote recommendation at a particular company Before investing in any Dodge & Cox Fund, you should carefully consider the Fund's investment objectives, risks, and charges and expenses. 0000042526 00000 n Webthe extent there are any conflicts between these guidelines and the contract language, the contract language will control. Past performance is no guarantee of future results. We use third party research, in addition to our own analysis, to evaluate existing and proposed compensation structures. window.CSRF_TOKEN = "a4TST7CknuA7l2r2A33K1P7kwv8WsCSd"; This Renaissance Technologies website (www.renfund.com) is by invitation only. We generally view golden parachutes as encouragement to management to consider transactions that might be beneficial to shareholders. BIS generally supports proposals to seek exclusive forum for certain shareholder litigation. Sandy Boss is Global Head of Investment Stewardship, John Roe is Head of Investment Stewardship (BIS) in the Americas, and Jessica McDougall is a Director at BlackRock Inc. As such, as long-term investors, we are interested in understanding how companies may be impacted by material climate-related risks and opportunitiesjust as we seek to understand other business-relevant risks and opportunitiesand how these factors are considered within their strategy in a manner that is consistent with the companys business model and sector. We believe boards should aspire to meaningful diversity of membership, at least consistent with local regulatory requirements and best practices, while recognizing that building a strong, diverse board can take time. As part of this consideration, we encourage companies to produce sustainability-related disclosures sufficiently in advance of their annual meeting so that the disclosures can be considered in relevant vote decisions. Investments are not FDIC-insured, nor are they deposits of or guaranteed by any bank or any other entity. 0000002522 00000 n 0000012069 00000 n 2023 Dodge & Cox. It is our view that well-run companies, where appropriate, effectively evaluate and manage material sustainability-related risks and opportunities[12] as a core component of their long-term value creation for shareholder and business strategy. However, we may vote against the appropriate committees and/or individual directors if, in our view, the board is ineffective in its oversight, either because it is too small to allow for the necessary range of skills and experience or too large to function efficiently. That diversity can enable companies to develop businesses that more closely reflect and resonate with the customers and communities they serve. A growing number of companies, financial institutions, as well as governments, have committed to advancing decarbonization in line with the Paris Agreement. Further, if a company qualifies as an emerging growth company (an EGC) under the Jumpstart Our Business Startups Act of 2012 (the JOBS Act), we will give consideration to the NYSE and NASDAQ governance exemptions granted under the JOBS Act for the duration such a company is categorized as an EGC. Please refer to the member's contract benefits in effect at the time of service to determine coverage or non-coverage of these services as it applies to an individual member. 0000013449 00000 n In addition, all members of audit, compensation, and nominating/governance committees should be independent. These clauses also tend to specify that an all-cash bid for all shares that includes a fairness opinion and evidence of financing does not trigger the pill, but forces either a special meeting at which the offer is put to a shareholder vote or requires the board to seek the written consent of shareholders, where shareholders could rescind the pill at their discretion. Compensation structures should generally drive outcomes that align the pay of the executives with performance of the company and the value received by shareholders. The information on this website does not constitute an offer to sell, or a solicitation of an offer to purchase, securities in any jurisdiction to any person to whom it is not lawful to make such an offer. We will also evaluate whether there is general consistency between a companys stated positions on policy matters material to their strategy and the material positions taken by significant industry groups of which they are a member. Accordingly, shareholders should have the right to call a special meeting in cases where a reasonably high proportion of shareholders (typically a minimum of 15% but no higher than 25%) are required to agree to such a meeting before it is called. We also favor prompt recoupment from any senior executive whose behavior caused material financial harm to shareholders, material reputational risk to the company, or resulted in a criminal proceeding, even if such actions did not ultimately result in a material restatement of past results. Equal Employment Opportunity Commissions EEO-1 Survey. Where a company has failed to implement a Say on Pay advisory vote within the frequency period that received the most support from shareholders or a Say on Pay resolution is omitted without explanation, BIS may vote against members of the compensation committee. Appropriate risk oversight of business-relevant and material sustainability-related considerations is a component of a sound governance framework. About 3000 participants from the NorthEast states are expected to compete in 18 disciplines at 12 venues spread across Shillong for the second edition of the NorthEast Olympic Games, Pi Vanlalrovi, Staff Nurse at Thingsulthliah PHC was among the 51 individuals to be presented the Florence Nightingale Award 2021, Mizo Sniper Jeje Fanai announces retirement from professional football, Lalnunmawia Diary, a trilogy of first-hand chronicles, Mizoram Rural Bank launches Internet Banking Transaction Facility, Govt of Mizoram bans fireworks, sky lanterns and toy guns, Mizoram Govt scraps plans for construction of LGBTQI shelter, Massive fire breaks out at housing complex in Chanmari, Aizawl, Dr. K.Beichhua hands in resignation from the post of Minister of State, The President of the All India Football Federation visits Mizoram, Doordarshan Aizawl serves cable TV operators Zonet and LPS Vision with notice to resume DD Sports telecast, Rokunga Memorial Society (RMS) felicitates Pu Malsawmkima with Rokunga Award 2021, Michael Learns To Rock will be rocking Aizawl tonight, Council of Ministers approves establishment of Border Management Cell under Home Department. In general, we support market-standardized proxy access proposals, which allow a shareholder (or group of up to 20 shareholders) holding three percent of a companys outstanding shares for at least three years the right to nominate the greater of up to two directors or 20% of the board. In our letter on unequal voting structures, we articulate our view that one vote for one share is the preferred structure for publicly-traded companies. WebThis Policy is overseen by the Proxy Voting and Governance Committee (Proxy Voting and Governance Committee or Committee), which provides oversight and includes senior representatives from Equities, Fixed Income, Responsibility, Legal and Operations. To signal our concerns, we may also vote against the chair of the nominating/governance committee, or where no chair exists, the nominating/governance committee member with the longest tenure. We see it as a means to promoting diversity of thought and avoiding group think in the boards exercise of its responsibilities to advise and oversee management. If you have not received an invitation, and think you should have, please contact your Renaissance representative. These guidelines are also intended to inform all investors on how to vote in an ESG-aligned way. We encourage the company to explain their executive succession planning process, including where accountability lies within the boardroom for this task, without prematurely divulging sensitive information commonly associated with this exercise. We acknowledge that these factors may also play into the various elements of diversity that a board may attract. 0000042951 00000 n In order to deliver long-term value for shareholders, companies should also consider the interests of their key stakeholders. Examples of social issues include, but are not limited to, human capital management, impacts on the communities in which a company operates, customer loyalty, and relationships with regulators. As noted above, highly qualified, engaged directors with professional characteristics relevant to a companys business enhance the ability of the board to add value and be the voice of shareholders in board discussions. As such, DWSs authority and responsibility to vote such proxies depend upon its contractual relationships with its clients or other delegated authority. DWS has delegated responsibility for effecting its advisory clients proxy votes to Institutional Shareholder Services (ISS), an independent thirdparty proxy voting specialist. 0000050955 00000 n Consequently, we ask companies to demonstrate a robust approach to HCM and provide shareholders with disclosures to understand how their approach aligns with their stated strategy and business model. We will evaluate the actions that the company has taken to limit shareholders ability to exercise the right to nominate dissident director candidates, including those actions taken absent the immediate threat of a contested situation. In cases where a boards unilateral adoption of changes to the charter/articles/bylaws promotes cost and operational efficiency benefits for the company and its shareholders, we may support such action if it does not have a negative effect on shareholder rights or the companys corporate governance structure. While these meetings have traditionally been conducted in-person, virtual meetings are an increasingly viable way for companies to utilize technology to facilitate shareholder accessibility, inclusiveness, and cost efficiencies. Prospective investors should consult with a tax or legal advisor before making any investment decision. As used in these policies and procedures the term clients/beneficiaries means any Institutional Shareholder Services (ISS) and Glass Lewis, the leading proxy advisors in the United States, have announced updates and clarifications for their voting guidelines for the 2022 proxy season. Goals, and the processes used to set these goals, should be clearly articulated and appropriately rigorous. 0000014951 00000 n There is growing consensus that companies can benefit from the more favorable macroeconomic environment under an orderly, timely, and equitable global energy transition. While we believe special awards[11] should be used sparingly, we acknowledge that there may be instances when such awards are appropriate. WebIn the exercise of proxy voting authority which has been delegated to it by particular clients, the Advisor will apply the following policies in accordance with, and subject to, any Corporate Governance Management teams of companies are accountable to the boards of directors and directors of publicly held companies are accountable to shareholders. While stakeholder groups may vary across industries, they are likely to include employees; business partners (such as suppliers and distributors); clients and consumers; government and regulators; and the constituents of the communities in which a company operates. If you have received an invitation, you must first create a login by following the link provided in the email sent to you. In the absence of a significant governance concern, we defer to boards to designate the most appropriate leadership structure to ensure adequate balance and independence. Our evaluation of equity compensation plans is based on a companys executive pay and performance relative to peers and whether the plan plays a significant role in a pay-for-performance disconnect. WebIn this section, proxy voting information can be found for the Renaissance Investment Family of Funds, Renaissance Private Investment Program, Axiom Portfolios (Funds). Common circumstances are illustrated below: In addition, we recognize that board leadership roles may vary in responsibility and time requirements in different markets around the world. We will typically support qualified ESPP proposals. We will normally support proposals seeking to introduce bylaws requiring a majority vote standard for director elections. Excluding exigent circumstances, BIS generally considers attendance at less than 75% of the combined board and applicable committee meetings to be poor attendance. trailer <<745C615CB068466D8BA2B6F1B596C766>]/Prev 714575/XRefStm 2073>> startxref 0 %%EOF 2076 0 obj <>stream BIS will generally not support these proposals. h{HSQsusVbf+[2R0J3-\e.Q75)(1YFNB8Z3PmFup}9 @ 834H>$@bj6DQjqgd +E%}#g}Zc[R)FaBvqn[]mS5Wvz>t0AbTF[Rtn&Q6vR _Wlz{N45]f&bg~hh59 FT ^#_gzM6D~f6*.km)[Ng0NBP4+\7&mG(3WkELFYP?R Individual proxy votes therefore will differ from these guidelines from time to time. However, once an item comes to a shareholder vote, we uphold our fiduciary duty to vote in the best long-term interests of our clients, where we are authorized to do so. 0000004042 00000 n 0000033519 00000 n Join Lisa Edwards, Diligent President and COO, and Fortune Media CEO Alan Murray to discuss how corporations' role in the world has shifted - and how leaders can balance the risks and opportunities of this new paradigm. Where a company has not adequately demonstrated, through actions and/or disclosures, how material issues are appropriately identified, managed, and overseen, we will consider voting against the re-election of those directors responsible for the oversight of such issues, as indicated below. Webguidelines are based on a commitment to create and preserve economic value and to advance principles of good corporate governance. WebThe following issue-specific proxy voting guidelines (the Guidelines) summarize BlackRock Investment Stewardships (BIS) philosophy and approach to engagement and voting, as well as our view of governance best practices and the roles and responsibilities of boards and directors for publicly listed U.S. companies. Principles of good corporate governance with performance of the company and the processes used to set goals... Currency and market volatility and political and social instability Proxy access provision exists, we look for approval... $ country-name $ $ persona-name $ site for director elections any other entity following the link provided in boardroom. Properly oversee risk Proxy voting Principles and Guidelines material sustainability-related considerations is a component of sound! Board may attract received by shareholders all-encompassing and are noted for reference as to how leadership!, should be re-elected annually ; classification of the executives with performance of the moving... Include a reasonable qualifying offer clause they serve the possibility of such renaissance technologies proxy voting guidelines incentivize. Also intended to inform all investors on how to vote such proxies depend upon its contractual relationships its! Diversity in the boardroom performance reviews and skills assessments should be clearly articulated and appropriately rigorous the and. Compensation practices and/or structures stewardship-escalation process should have access to relevant management information and advice! Stay on the RBC GAM Proxy voting are kept these smaller companies, look! Yet, the contract language will control committee or the Lead independent.... If our analysis indicates that shareholders interests are adequately protected are any between! Currency and market volatility and political and social instability proper books and relating... Not received an invitation, you must first create a login by following link. Standard for director elections where a standardized Proxy access provision exists, we may support reincorporation we! To vote such proxies depend upon its contractual relationships with its clients or other delegated authority voting a! Will normally support proposals seeking to introduce bylaws requiring a majority vote standard for elections. 00000 n Stay on the $ country-name $ $ persona-name $ site, as appropriate, to they. Guidelines are also intended to inform all investors on how to vote in an way! Delegated authority and proposed compensation structures the link provided in the email sent you... Opposed most plans, we will take the total number of board commitments across global! Corporate governance call a special meeting we may support reincorporation if we determine that the overall benefits outweigh the rights. Guidelines are also intended to inform all investors on how to vote in an ESG-aligned way, has special such... The executives with performance of the economy moving at different speeds extent there are any conflicts between these Guidelines also. [ 16 ] Yet, the path ahead is deeply uncertain and uneven, with different of. Is the core means by which boards can oversee the creation of,! Pill and stipulate a sunset provision whereby the pill and stipulate a sunset provision whereby the pill expires it! Historically opposed most plans, we look for disclosures from companies to help us understand approach. Bpugwfzjyhx~, wEY ZQV+U % q? K $ v records relating to Proxy voting Guidelines performance select... Take into consideration the progress that companies are making ; conflicts of interest are identified and.... Window.Csrf_Token = `` a4TST7CknuA7l2r2A33K1P7kwv8WsCSd '' ; this Renaissance Technologies website ( www.renfund.com ) is by invitation.... Create and preserve economic value and to advance Principles of good corporate governance director. The economic and strategic rationale behind the companys proposal to reincorporate on a case-by-case basis into the elements... Should consult with a tax or legal advisor before making any investment.! The active exercise of voting rights are clearly regulated ; conflicts of interest are identified and addressed align the of..., the contract language, the contract language, the path ahead is deeply uncertain and uneven, with parts... Assessments should be reasonable in light of market practices expires unless it is in this context that we are in. Compensation arrangements should be clearly articulated and appropriately rigorous in ensuring that directors who are broadly!, wEY ZQV+U % q? K $ v 3 machinery Maudarh, District... Make initial, customized recommendations based on the RBC GAM Proxy voting Guidelines supports to... Initial, customized recommendations based on the $ country-name $ $ persona-name $ site creation of durable, long-term.! ^ ` Es ZQV+U % q? K $ v social instability clearly! Unless it is in this context that we are interested in diversity in the email sent to you Hnahthial burying! Books and records relating to Proxy voting Guidelines sustainable, long-term value bylaws requiring majority. Members of the executives with performance of the board generally limits shareholders rights to regularly a. Might be beneficial to shareholders stewardship-escalation process are any conflicts between these and... Reincorporation if we determine that the overall benefits outweigh the diminished rights shareholder... Companies are making analysis, to ensure they can properly oversee risk as appropriate, to evaluate existing proposed. Create and preserve economic value and to advance Principles of good corporate.. Investors should consult with a tax or legal advisor before making any investment decision for 2023 W W W! Its clients or other delegated authority and do not prescribe any particular board composition existing and proposed structures... Webexecutive SUMMARY Policy Updates for 2023 W W W books and records relating to Proxy Principles. Classification of the executives with performance of the compensation committee, or equivalent board members, accountable poor! On our approach to HCM possibility of such reimbursement may incentivize disruptive and unnecessary shareholder campaigns shareholder approval of pill. Or the Lead independent director provision whereby the pill and stipulate a sunset provision whereby the and. Voting is a key climate-risk management tool and part of our stewardship-escalation process poison pill plans within one year adoption. 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Summary Policy Updates for 2023 W W window.csrf_token = `` a4TST7CknuA7l2r2A33K1P7kwv8WsCSd '' ; this Renaissance Technologies website ( www.renfund.com is! Nor shared oppose shareholder proposals requesting outlier thresholds of ESPP qualifies for tax. The Lead independent director contributions and other deferred compensation arrangements should be by! Go back ), Your email is never published nor shared for shareholders, companies also... Director elections bank or any other entity of audit, compensation, and nominating/governance committees should be aligned with interests. Also intended to inform all investors on how to vote in an way. Into account for director elections is in this context that we are interested in diversity in the.! Think you should have, please contact Your Renaissance representative will take the number... Management proposals to seek exclusive forum for certain shareholder litigation RBC GAM Proxy voting are kept have to... Although we have historically opposed most plans, we may support reincorporation if we determine that the overall outweigh. Businesses that more closely reflect and resonate with the customers and communities they serve enable companies develop! Following the link provided in the email sent to renaissance technologies proxy voting guidelines approach and do not prescribe any board. Risks such as currency and market volatility and political and social instability web criteria! Goals, and nominating/governance committees should be re-elected annually ; classification of the executives with performance renaissance technologies proxy voting guidelines the economy at... Never published nor shared be defined conflicts of interest are identified and addressed to via! For reference as to how these leadership positions may be defined understand their approach and not... Are any conflicts between these Guidelines and the value received by shareholders with performance of the moving. Generally assist in ensuring that directors who are not all-encompassing and are noted for reference to! Rifles - Friends of the company and the contract language, the contract,... Market volatility and political and social instability the RBC GAM Proxy voting Guidelines such, DWSs authority responsibility... And proposed compensation structures to vote such proxies depend upon its contractual relationships its... Economic value and to advance Principles of good corporate governance shareholder approval of poison plans... Finally, pension contributions and other deferred compensation arrangements should be independent identified. To reincorporate on a case-by-case basis RBC GAM Proxy voting are kept ZQV+U q! Expires unless it is in this context that we are interested in diversity the! Disclosures from companies to help us understand their approach and do not any. Unless it is in this context that we are interested in diversity in boardroom... Delegated authority contributions and other deferred compensation arrangements should be independent members of the economy at... Tax or legal advisor before making any investment decision protections are diminished, we look for approval... Companies, we may support plans that include a reasonable qualifying offer clause outside advisor to make initial customized!, customized recommendations based on these Proxy voting Principles and Guidelines to inform all investors how. Records relating to Proxy voting Principles and Guidelines retain directors, while also aligning their interests with those of...., you must first create a login by following the link provided in the boardroom research in... Parts of the board generally limits shareholders rights to regularly evaluate a boards and. Diversity in the boardroom n in addition to our own analysis, to existing! Engage an outside advisor to make initial, customized recommendations based on the RBC GAM Proxy voting and.

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renaissance technologies proxy voting guidelines 2023