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E-Proxy Stats: Hybrid Approach Reaped Most Savings

Melissa Klein Aguilar | October 7, 2008

While the overwhelming majority of companies that used the the Securities & Exchange Commission’s notice-and-access, or “e-proxy” rule, were happy with the results, the expected cost savings fell short for some. That’s according to the latest data on e-proxy usage during the 2008 proxy season reported by the National Investor Relations Institute and The Society for Corporate Secretaries and Governance Professionals.

NIRI Chart

Among 519 NIRI and SCSGP members responding to a joint survey, 44 percent implemented some form of the notice-and-access proxy distribution model. Among them, 95 percent said notice-and-access met its objective. However, only 70 percent reported cost savings.

Most companies (67 percent) said they saved roughly what they expected to save; however, 23 percent...

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