News & Analysis as of

Shareholders Shareholder Approval New York Stock Exchange

Dorsey & Whitney LLP

NYSE American Amends Shareholder Approval Requirements

Dorsey & Whitney LLP on

The NYSE American stock exchange requires a listed company to obtain shareholder approval prior to issuing shares pursuant to (i) stock-based compensation plans, (ii) certain acquisitions and change of control transactions,...more

Mayer Brown Free Writings + Perspectives

NYSE Receives Approval to Limit Reach of Shareholder Approval Rule

On December 26, 2023, the Securities and Exchange Commission (“SEC”) approved an amended proposal submitted by the New York Stock Exchange (“NYSE”) that narrows the scope of the NYSE’s shareholder approval requirement for a...more

Stinson - Corporate & Securities Law Blog

NYSE Updates Shareholder Approval Rule

The NYSE amended its shareholder approval rules to make it easier for listed companies to sell securities to passive existing shareholders without obtaining shareholder approval.  The SEC approved the change on an accelerated...more

Cooley LLP

SEC approves amended NYSE proposal to relax shareholder approval requirements for certain equity sales

Cooley LLP on

Happy new year! In September last year, the SEC posted a new NYSE proposed rule change that would “modify the circumstances under which a listed company must obtain shareholder approval of a sale of securities to a...more

Cooley LLP

NYSE proposes to relax shareholder approval requirements for certain equity sales

Cooley LLP on

On Friday last week, the SEC posted a new NYSE proposed rule change that would “modify the circumstances under which a listed company must obtain shareholder approval of a sale of securities to a substantial security holder,”...more

Cooley LLP

Blog: NYSE proposes to amend calculation of “votes cast”

Cooley LLP on

Currently, where a matter requires shareholder approval under NYSE rules, the minimum vote required is a majority of the votes cast on the matter. But how do you count votes cast? Do you count abstentions? What about broker...more

Mintz - Securities & Capital Markets...

NYSE Amends Shareholder Approval Rules

In April 2021, the Securities and Exchange Commission approved amendments to the New York Stock Exchange’s shareholder approval rules for related party issuances and the issuance of 20% or more of a company’s stock. The...more

Cooley LLP

Blog: SEC approves NYSE amendment of shareholder approval provisions

Cooley LLP on

In December 2020, the NYSE proposed to relax the requirements for shareholder approval of related-party equity issuances and bring them into closer alignment with the comparable Nasdaq rules by amending Sections 312.03,...more

Stinson - Corporate & Securities Law Blog

NYSE Completes Amendments to Shareholder Approval and Related Party Requirements

The NYSE has amended the Listed Company Manual regarding shareholder approval requirements for the issuance of securities and certain related party matters. The SEC approved the amendments on an accelerated basis....more

Cooley LLP

Blog: NYSE proposes to amend shareholder approval requirements

Cooley LLP on

The NYSE is proposing to relax the requirements for shareholder approval of related-party equity issuances and bring them closer into alignment with the comparable Nasdaq rules. The proposal, which would amend Sections...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Cooley LLP

Blog: NYSE again extends temporary waiver of shareholder approval requirements for certain equity issuances

Cooley LLP on

In early April, the SEC approved and declared immediately effective an NYSE rule change to waive, through June 30, 2020 and subject to compliance with conditions, application of certain of the shareholder approval...more

Troutman Pepper Locke

NYSE Follows NASDAQ in Temporarily Exempting Some Private Offerings From Shareholder Approval

Troutman Pepper Locke on

On May 14, 2020, the NYSE adopted temporary rules that will permit its listed companies to issue more than 20% of their presently outstanding common stock in a private placement at a discount without the shareholder approval...more

Cooley LLP

Blog: NYSE provides temporary exception to certain shareholder approval requirements

Cooley LLP on

The SEC has declared immediately effective (yet another) proposed change to the rules of an exchange—this one from the NYSE. The NYSE has adopted new Section 312.03T of the NYSE Listed Company Manual, which will provide a...more

Cooley LLP

Blog: NYSE temporarily eases shareholder approval requirements for certain equity issuances

Cooley LLP on

After the 2008 financial crisis, many companies sought to raise capital by selling equity in private placements, often to existing major shareholders, but faced limitations resulting from the NYSE’s shareholder approval...more

Wilson Sonsini Goodrich & Rosati

NYSE Publishes Annual Guidance Memo for NYSE-Listed Issuers

Earlier this month, the New York Stock Exchange (NYSE) published its annual Listed Company Compliance Guidance for NYSE Issuers (guidance), which includes useful reminders of important rules and policies applicable to...more

Cooley LLP

Blog: SEC approves changes to NYSE shareholder approval rule

Cooley LLP on

On March 20, the SEC approved the 2018 NYSE proposal to amend Sections 312.03 and 312.04 of the NYSE Listed Company Manual, modifying the price requirements for purposes of determining whether shareholder approval is required...more

Troutman Pepper Locke

NYSE Proposes to Amend Certain Shareholder Approval Requirements Similar to Nasdaq

Troutman Pepper Locke on

The NYSE recently issued a proposal to amend Sections 312.03 and 312.04 of the Listed Company Manual (the “NYSE Manual”) to change the circumstances in which NYSE-listed companies are required to obtain shareholder approval...more

Pillsbury Winthrop Shaw Pittman LLP

New FAQs Clarify Shareholder Approval Rules For Stock-For-Tax Withholding

It has been close to a decade since the New York Stock Exchange (NYSE) last updated its set of frequently asked questions (FAQs) regarding equity compensation plans. On August 18, 2016, the NYSE released updated FAQs and,...more

Cooley LLP

Blog: SEC Receives A Response To Its Invitation For Comment On NYSE Proposal

Cooley LLP on

As discussed in this PubCo post, in early August, the SEC issued an Order instituting proceedings to determine whether to disapprove a proposal from the NYSE to amend Sections 312.03(b) and 312.04 (shareholder approval) of...more

20 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide