Shareholder Proposal No-Action Responses Issued Under Exchange Act Rule 14a-8
Nov. 21, 2019
The Division of Corporation Finance receives requests from companies to state its informal, non-binding views on whether it concurs that there is a legal basis to exclude shareholder proposals under Exchange Act Rule 14a-8. Incoming Rule 14a-8 no-action requests can be found on the Rule 14a-8 Incoming No-Action Requests page.
For information on the Division's processing of Rule 14a-8 no-action requests, see our informal procedures regarding shareholder proposals.
As indicated in our Announcement Regarding Rule 14a-8 No-Action Requests, beginning with the 2019-2020 shareholder proposal season, the staff may not respond by letter to every no-action request submitted. The staff’s responses to Rule 14a-8 no-action requests issued on or after November 21, 2019 will be publicly disclosed through our Shareholder Proposal No-Action Responses Chart below.
Materials relating to no-action responses issued under Exchange Act Rule 14a-8 are archived below. Pursuant to the Federal Information Security Management Act of 2002 and OMB Memorandum M‑07‑16, we have removed, to the maximum extent practicable, personally identifiable information from the materials.