{"id":39682,"date":"2023-08-29T05:21:56","date_gmt":"2023-08-29T09:21:56","guid":{"rendered":"https:\/\/allianceadvisors.com\/post-shareholder-meeting-shareholder-engagement-proxy-logistics-shareholder-meeting-advisory-retail-outreach\/"},"modified":"2025-03-17T18:24:52","modified_gmt":"2025-03-17T22:24:52","slug":"post-shareholder-meeting-engagement","status":"publish","type":"post","link":"https:\/\/allianceadvisors.com\/zh-hans\/post-shareholder-meeting-engagement\/","title":{"rendered":"Case study: Say on Pay &#8211; Stock Option Plan"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row remove_bottom_col_margin=&rdquo;true&rdquo;][vc_column]<style>.vcex-heading.vcex_68e4541fbdcf8{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e4541fbdcf8\"><span class=\"vcex-heading-inner wpex-inline-block\">Assignment and Challenges<\/span><\/h2>[\/vc_column][\/vc_row][vc_row css=&rdquo;.vc_custom_1682408560766{background-color: #eaeaea !important;}&rdquo;][vc_column][vc_column_text css=&rdquo;.vc_custom_1692782680260{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;}&rdquo;]In 2022, in its first year as a public company SPCE struggled to get enough votes for its shareholder meeting and the vote came in only two days before the meeting date.\n<p>SPCE in 2023 was facing a difficult vote on proposals for <a class=\"glossaryLink cmtt_&#8220;Say on Pay&#8221; provisions\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Say on Pay&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; A corporate governance provision that gives shareholders the right to vote on executive...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/compensation-advisory-case-study\/&amp;quot;&gt;Case Study: Previously, Failed Say on Pay Proposal Compensation Advisory, Shareholder Meeting Advisory&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/apac-power-generation-company\/&amp;quot;&gt;Case Study: EGM &amp;#8211; Shareholder Engagement&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/say-on-pay\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/say-on-pay\/\"  href=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/say-on-pay\/\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Say on Pay<\/a> and a vote to approve the company&rsquo;s stock option plan. To add another layer of difficulty the shareholder base is skewed towards retail holders who are notoriously apathetic voters.[\/vc_column_text][\/vc_column][\/vc_row][vc_row equal_height=&rdquo;yes&rdquo;][vc_column]<\/p><div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:25px;\"><\/div>[\/vc_column][\/vc_row][vc_row css=&rdquo;.vc_custom_1693488688463{margin-bottom: -15px !important;}&rdquo;][vc_column]<style>.vcex-heading.vcex_68e4541fbedeb{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e4541fbedeb\"><span class=\"vcex-heading-inner wpex-inline-block\">Solution<\/span><\/h2>[vc_column_text css=&rdquo;.vc_custom_1742250286093{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;background-color: #eaeaea !important;}&rdquo;]Alliance Advisors designed a 4-phase, year-round <a class=\"glossaryLink cmtt_Institutional Shareholder Engagement\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Shareholder Engagement&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; The process of establishing and maintaining communication and relationships between...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/%e8%81%94%e7%b3%bb%e6%96%b9%e5%bc%8f\/&amp;quot;&gt;&#32852;&#31995;&#26041;&#24335;&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/compensation-advisory-case-study\/&amp;quot;&gt;Case Study: Previously, Failed Say on Pay Proposal Compensation Advisory, Shareholder Meeting Advisory&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/shareholder-engagement\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\" data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/shareholder-engagement\/\" href=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/shareholder-engagement\/\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Shareholder Engagement<\/a> program designed to take the guess work out of the shareholder meeting process.\n<p><strong>Phase 1<\/strong>: Post-Shareholder Meeting Engagement. This phase starts as a postmortem on the 2022 meeting. We analyze who the largest institution and retail shareholders are and compile stats on how they voted. This is followed by an outreach campaign to position the company in front of and communicating with its largest shareholders. The data collected from Phase 1 allows Alliance Advisors to project how compensation proposals will be received for the next shareholder meeting, before they are put before shareholders.<\/p>\n<p><strong>Phase 2:<\/strong> <a class=\"glossaryLink cmtt_Proxy Logistics\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Proxy Logistics&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; The process of managing the distribution, collection, and tabulation of proxy materials and...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/%e4%bb%a3%e7%90%86%e5%90%8e%e5%8b%a4%e5%92%8c%e8%99%9a%e6%8b%9f%e8%82%a1%e4%b8%9c%e4%bc%9a%e8%ae%ae\/&amp;quot;&gt;&#20195;&#29702;&#21518;&#21220;&#21644;&#34394;&#25311;&#32929;&#19996;&#20250;&#35758;&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.com\/zh-hans\/%e8%81%94%e7%b3%bb%e6%96%b9%e5%bc%8f\/&amp;quot;&gt;&#32852;&#31995;&#26041;&#24335;&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/proxy-logistics\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/proxy-logistics\/\"  href=\"https:\/\/allianceadvisors.com\/zh-hans\/glossary-index\/proxy-logistics\/\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Proxy Logistics<\/a>. This is a single source solution that allowed the company to rid themselves of details such as regulatory filings, printing meeting documents, arranging for distribution of materials and set up for a Virtual Meeting.<\/p>\n<p><strong>Phase 3:<\/strong> Shareholder Meeting Advisory. In this phase we coordinate outreach to institutions including setting up calls, preparing management to dialogue with institutions. We provide investor dossiers, identify proxy advisory firms (ISS\/Glass Lewis) influence on voting decisions, and coordinate investor follow up.<\/p>\n<p><strong>Phase 4:<\/strong> Retail Outreach. Since SPCE has a significant percentage of its shares held in retail hands we use proprietary technology to reach registered and NOBO investors. We gather votes on digital voting platforms via phone campaigns, emails and text messages.[\/vc_column_text][\/vc_column][\/vc_row][vc_row equal_height=&rdquo;yes&rdquo;][vc_column]<\/p><div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:25px;\"><\/div>[\/vc_column][\/vc_row][vc_row remove_bottom_col_margin=&rdquo;true&rdquo;][vc_column]<style>.vcex-heading.vcex_68e4541fbf79e{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e4541fbf79e\"><span class=\"vcex-heading-inner wpex-inline-block\">Results<\/span><\/h2>[vc_column_text css=&rdquo;.vc_custom_1693488623295{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;background-color: #eaeaea !important;}&rdquo;]Despite some institutions choosing to not support the Say on Pay proposal, Alliance Advisors strategy of coordinated solicitation across the entire shareholder base worked. All proposals passed by a majority vote.[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Virgin Galactic, Inc \u2013 NYSE ( SPCE )<\/p>\n","protected":false},"author":9,"featured_media":39823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[223],"tags":[363,272,362],"post_series":[],"ppma_author":[459],"class_list":["post-39682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies-zh-hans","tag-shareholder-meeting-advisory-retail-outreach-zh-hans","tag-shareholder-engagement-zh-hans","tag-proxy-logistics-zh-hans","entry","has-media"],"authors":[{"term_id":459,"user_id":9,"is_guest":0,"slug":"nthomas","display_name":"Nick Thomas","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/b13c51d67934aa5957c1ce7fa0b768b9bfe3a377d9d110466cd3131b1c32362a?s=96&d=mm&r=g","author_category":"","first_name":"Nick","last_name":"Thomas","user_url":"https:\/\/www.grid24.co.uk\/","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/posts\/39682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=39682"}],"version-history":[{"count":7,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/posts\/39682\/revisions"}],"predecessor-version":[{"id":56585,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/posts\/39682\/revisions\/56585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/media\/39823"}],"wp:attachment":[{"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=39682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=39682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=39682"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/post_series?post=39682"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/allianceadvisors.com\/zh-hans\/wp-json\/wp\/v2\/ppma_author?post=39682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}