About this episode

The episode discusses the results of AGMs in 2026, focusing on shareholder proposals, voting outcomes, and the state of proxy contests.

What are the overall results from AGMs in 2026? How did companies and shareholders do in AGM votes? Shareholder proposals Many fewer E&S Same or slightly more corp gov  Voting outcomes similar to past years(?) Proxy contests Many fewer compared to earlier years Activists prevailed at roughly the same rate, perhaps a little lower Many more settlements Notable activist situations ESG proposals Proxy contests Almost no really big ones Biglari lost two, CBRL and JACK Two mergers terminated CORZ, CoreWeave STAA Withhold campaigns didn’t work CBRL, JACK VSCO - started as a proxy contest Several smaller ones, where in all but one activists won no seats Important settlements LULU-Wilson WEX-Impactive TRIP-Starboard RGR-Beretta KMX-Starboard Still several to go for 2026, though FRMI-Neugebauer Regulatory actions - AML comments SEC State level Can’t avert our eyes from SPCX IPO, either Ownership Corp gov Trading So, what have we learned so far in 2026? The Key Takeaways: SHPs Total shareholder proposal submissions fell significantly from 951 in 2025 down to approximately 789 in 2026 . Despite the SEC granting companies broader power to exclude rogue proposals, corporate boards…

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