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Higher turnout at annual meetings and new SEC reporting rules are forcing bankers and activist shareholders to spend more time, money swaying voters in proxy fights.
May 24 -
Recent proxy battles show that the high-stakes clashes are getting pricey for management teams and irate shareholders.
June 4 -
Harvard Illinois Bancorp's management and board have prevailed in their proxy battle with an activist investor.
May 24 -
Avoid the bluster and the defensiveness, and focus on communication and steps to improve the bank, veterans of activist investor fights like John Palmer of PL Capital advise.
May 17
For the
The $170 million-asset company disclosed in a regulatory filing Thursday that Mark Saladin, Stilwell's nominee for the board, fell 140,033 votes shy of unseating an incumbent director. The meeting was held on May 23.
Stilwell has spent recent years pressuring Harvard Illinois to sell itself. He has also sought to replace David Seyller, the company's president and chief executive.
Harvard Illinois' nominees were Michael Feeney, William Schack and Steven Garrels.
