Even before the pandemic, more and more companies were ‘going virtual’ to help increase accessibility and convenience for board members, executive leadership and shareholders by enabling them to attend the annual stockholder meeting online. As this technology moves into the mainstream, it’s important to work with a platform and provider that can make the process easy, convenient, resilient and straightforward.
Since the launch of Broadridge’s virtual shareholder meeting (VSM) platform in 2009 – the first commercial platform to make this technology available to companies – the industry had seen slow but steady growth in the adoption of virtual meetings. Over the last decade, the Broadridge platform has successfully hosted upwards of 1,500 virtual meetings for both large and small companies, giving the confidence to others that had to quickly make the switch to virtual.
When the pandemic forced most companies to switch to a VSM overnight, it presented a unique opportunity to drive further shareholder engagement and accessibility. The increase in the numbers of attendees, questions posed, votes cast and overall engagement that occurred in the 1,494 virtual meetings that were held on the Broadridge platform during the 2020 proxy season is evidence that this digital experience provided more shareholders with a meaningful way to engage with the companies they are invested in.
The ongoing outbreak of the virus throughout the country means virtual meetings will continue to be a great alternative to holding a physical meeting. But not all virtual meetings are built the same; they involve much more than a webinar or telecast. Solutions such as Broadridge's help maximize access and ensure your shareholders have the ability to vote and ask questions at the meeting. There’s a lot at stake, and it’s imperative to get it right.
Make sure access is easy for shareholders. It should take only two steps: enter the meeting URL and then enter the control number found in the proxy materials
Authenticate shareholders. Your VSM partner should have a reliable mechanism for authenticating all shareholders so that entry, votes and questions asked can be validated for shareholders
Execute best practices. Effectively communicate with shareholders before the meeting, provide ways for them to submit questions – pre-meeting, text box or phone – and vote, and establish rules to ensure everyone can fully participate
A successful meeting requires planning and preparation. Ensure your provider has the scale to support your meeting as well as the resources and expertise to guide your team through the experience from beginning to end
For more information about how we can help, please go to www.broadridge.com/vsm or contact Cathy Conlon, vice president of product strategy at Broadridge Corporate Issuer Solutions.
Broadridge, a global fintech leader and S&P 500® company with more than $4 billion 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.
