Virtual Annual Meetings
Broadridge has released updated “Facts & Figures” on virtual shareholder meetings conducted in 2017. Some of the noteworthy statistics for meetings held in 2017 are:
- 236 companies held virtual annual meetings, 90% of these were virtual-only;
- 57% of the companies that held virtual meetings were small-cap, 26% were mid-cap, and 17% were large-cap;
- 97% of virtual-only meetings were conducted with live audio, just 3% with live video;
- 83% of hybrid meetings were conducted with live audio, with 17% using live video;
- 98% of companies allowed questions to be submitted online during the meeting, with 11% allowing questions to be submitted prior to the meeting and 10% allowing live questions telephonically during the meeting;
- Virginia and Wisconsin amended corporate laws to allow virtual-only meetings, bringing the total number of states that allow this format to 30. An additional 12 states permit hybrid meetings.
Broadridge anticipates an increase in virtual meetings in 2018, expecting to host at least 300 this year.
The full Broadridge report can be viewed here: Virtual Shareholder Meetings: 2017 Facts & Figures