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With the ability to hold successful Virtual Shareholder Meetings (VSM) now proven, your fund should consider how VSMs fit into your upcoming shareholder meeting plans.
There are three fundamental models to consider: an all-virtual meeting, a hybrid meeting that allows shareholders to attend in person or online, or a traditional in-person meeting format.
As of this publication, the only states that limit your choice of models are Massachusetts and New Mexico (limited to hybrid and in person) and South Carolina (in person, only)1. To identify the right model for your business, it is important to consider your shareholders. VSM and hybrid models offer greater transparency, plus the option to ask questions and vote without being physically in attendance.
Creating a VSM is more involved than creating a webinar or telecast. Meaning, you can’t just set up a video feed and some polling options. There’s a lot at stake, so it’s imperative that you get it right.
The right partner will model their VSM/hybrid meeting management on the most recent SEC staff guidance. They will keep you apprised of all new required developments, put you in control, and bring proven expertise to every meeting, keeping the process simple and shareholder friendly, from beginning to end.
When working with Broadridge, the VSM process begins with changing your meeting location. Instead of, or in addition to including a physical location, you will include a website address in your proxy statement or press release. Shareholders that request access will be validated, can submit pre-meeting questions, and will receive a unique event password to use on meeting day. While attending the VSM, shareholders can view materials, hear questions answered and cast their vote. During the meeting, your organization will have the ability to drive content, record activity for compliance, monitor attendance, post materials and chat with participants.
If you have been tasked with exploring your fund’s VSM options, please download our article, More Access. Less Risk. Top five considerations for choosing a VSM partner.
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