Charles Schwab No Longer Utilizing Proportionate Voting (Mar. 2020)

In July of 2019 one of the largest retail brokers in the United States, Charles Schwab, announced it will no longer apply proportionate voting to routine ballot items at shareholder meetings. Alliance Advisors expects that this change will have an impact on issuers in all sectors and of all market caps for the upcoming 2020 proxy season. Alliance recommends that issuers consult with their advisors on how this change will impact voting before their next shareholder meeting.

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