Proxy Access: Second Use of Access Bylaw to Nominate Director!

Well, it’s been over two years since the first filing of a Schedule 14N at National Fuel Gas. You’ll recall that was Gamco’s failed attempt to utilize proxy access. But we finally have a second Schedule 14N filed yesterday for “The Joint Corp.” By looking at the name, I thought this company would have something to do with legalized marijuana. But it’s actually a chiropractic franchise… The Interesting Back Story for this Schedule 14N From what I can glean, here’s the back story for this Schedule 14N at “The Joint Corp”: 1. A shareholder proposal to adopt proxy access was approved – with 96.05% support – at the company’s annual meeting on June 1st of this year (there were a lot of broker no-votes – nearly one third). A few months after, the board amended the bylaws to adopt proxy access. As you can see from the company’s proxy statement, the board had not made a recommendation for…

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