Strategies and best practices to implement a winning virtual shareholder meeting in 2021
The Covid-19 pandemic has reshaped how we work and interact. Zoom and WebEx meetings are now ubiquitous. Millions work remotely. And virtual conferences are commonplace.
So it’s no surprise the annual shareholder meeting is changing, too. Last year Broadridge hosted 1,957 successful virtual shareholder meetings (VSMs) – with nearly 100,000 investors participating from myriad locations:
Explore the complete 2020 VSM recap here.
Issuers enjoyed a smooth transition Most companies had little trouble making the switch to virtual because our proven infrastructure was already in place and ready to go. Broadridge pioneered the first commercial technology and has hosted VSMs since 2009. With more than a decade of experience, we had the capacity to onboard hundreds of new clients (well beyond our original planned capacity of 400 for 2020).
In addition, survey data confirms that most shareholders found the experience productive and rewarding. This is because the VSM platform makes it easy for issuers to organize and address shareholder questions.
Management enjoys full visibility into the questions asked before the meeting and in real time. Investors, for their part, said they appreciated the simplicity of the Q&A format and took full advantage of the opportunity to ask questions.
Step up to the next-generation VSM platform For 2021, Broadridge is rolling out several upgrades to our industry-leading platform, which will significantly improve the experience for both issuers and shareholders. Here’s what you can expect.
Enhanced meeting management: Issuers said they want more customization when it comes to presenting information during the event, so we enhanced the platform to include a modular roles-based organizer experience that lets users showcase documents, screenshares, videos and speakers in whatever arrangement they prefer. This gives users more control over speakers, questions and the flow of the event.
Simpler navigation: Now participants enjoy a truly intuitive experience with zero learning curve. In only one or two clicks, shareholders can easily vote and ask questions during the meeting. At the same time, directors and management have a better view of who is speaking and can quickly respond when circumstances call for their participation.
Maximum transparency: Although most participants said they were pleased with the level of engagement, we found an opportunity to improve the Q&A process even further. Our new approach enables issuers to more easily manage, organize and address shareholder questions. In addition, there are more options for issuers to tailor the Q&A experience for their meeting and their shareholders.
Let us help you implement VSM best practices Technology is only one piece of the puzzle. Broadridge is also committed to helping clients implement VSM best practices. Recently, the Center for Corporate Law and Governance at Rutgers University Law School released its Report of the 2020 Multi-Stakeholder Working Group on Practices for Virtual Shareholder Meetings. This comprehensive annual study is produced in partnership with the Society for Corporate Governance and the Council of Institutional Investors.
The purpose of the report is to ‘outline expectations, as well as evolving practices’ for implementing VSMs. Although worth reading in its entirety, the report is 30+ pages in length – so to save you some time we created an eBook that summarizes the main principles that emerged from the report and explains how you can put those best practices into practice.
Ultimately, Broadridge want clients to go beyond best practices and set new standards for transparency, engagement and participation. Download the free eBook here.
Great minds think aligned When it comes to corporate governance and your annual shareholder meeting, we’re mindful of the pressures you face. Technology shouldn’t be one of them. Our innovative, modular and customizable Virtual Shareholder Meeting platform gives you the tools you need to create the meeting you want.
It’s intuitive technology for interactive communication. It’s a meeting of minds.
Discover how easy it is to take your next meeting virtual. Visit Broadridge.com/MeetingOfMinds or call +1 844 364 4966 to get started.
Broadridge, a global fintech leader and S&P 500® company with more than $4 bn in revenues, enables corporate governance, powers capital markets and grows wealth management. We drive business transformation with solutions for enriching engagement, navigating compliance and optimizing efficiency. With our proprietary data and technology we support insight, compliance and governance while enhancing the shareholder experience – with the industry’s only single-source solution for corporate disclosure and communications. As the leading proxy solutions provider to the Fortune 500 and one of the largest Edgar filers with the SEC, we are uniquely positioned to help corporations get ahead of today’s challenges and capitalize on what’s next.
