Notice & Access Support Services
The “Notice and Access system” has resulted in significant cost savings for public companies, amounting to billions of dollars. This system eliminates the need for printing hundreds of thousands of tons of shareholder meeting materials and saves millions in postage annually.
Approved by the SEC in 2007, the amended proxy rules empower companies to provide proxy materials to most shareholders via the Internet. While some employee-plan trustees may insist on paper documents for certain participants, most plans accept Notice and Access (N&A).
Rather than automatically mailing a hard copy set of proxy materials, including an Annual Report, Notice of Meeting, Proxy Statement, and Proxy Card or Voting Instruction Form (VIF), companies may opt for a “Notice of Internet Availability of Proxy Materials” (the “Notice”).
The Notice must include the Internet website address for accessing proxy materials online, instructions for requesting hard copies, and the option to permanently elect to receive physical materials for future shareholder meetings across all companies where they hold shares.
Companies choosing the Notice and Access option must post meeting materials on a publicly accessible website, adhering to the same format and content as hard-copy materials. Unfortunately, some companies disregard this rule, potentially harming the shareholder experience and risking the loss of significant savings.
One downside of Notice and Access is that individual investors may neglect to vote when the required materials aren’t directly provided to them. This is crucial as individual investors often align their votes with management recommendations, influencing outcomes significantly.
To maximize Notice and Access savings and individual investor votes:
Understand Shareholder Demographics: Recognize the varied voting preferences based on shareholder demographics. Tailor your approach to suit the preferences of your specific company.
Stratify Mailings: Seek advice from trusted providers on how to stratify mailings effectively. Consider mailing full sets to shareholders with a “meaningful investment” while sending Notices to smaller holders.
Ensure User-Friendly Website Content: Make sure the materials on your website are user-friendly to encourage shareholders to vote. Consider the readability on tablets and mobile devices, as voting via mobile devices is on the rise.
Optimize Design and Delivery: Explore practical tips on designing and delivering shareholder-friendly materials, both in print and online. Engage skilled providers to optimize your spending on shareholder materials effectively.
By implementing these strategies, companies can harness the benefits of Notice and Access while ensuring a positive experience for shareholders and maximizing cost savings.
Listings: Notice & Access Support Services
Notice & Access Support Services
Broadridge supports all proxy communications options, including Notice and Access. We will work with you to determine which distribution model offers the greatest combination of benefits for your particular situation. Many issuers will choose a hybrid approach, sending full packages to certain shareowners, while sending the Notice to others.
In addition to creating an individualized project plan, timeline analysis and notice design, print and mailing, your Broadridge representative will help you determine the breadth of services you require for implementing Notice and Access, which may include:
- Annual Report and Proxy Statement conversions with enhanced interactive navigation for an improved user experience Customized shareowner landing page and portal
- Web hosting
- Inventory management, warehousing and fulfillment
- Online options to collect shareowner future delivery preferences; paper or electronic
- Cost benefit analysis
- Customizable Notice templates and forms
- Windowed notice envelopes that can showcase colorful, double-sided inserts with messaging customized to your needs
- Voting through proxyvote®.com for beneficial, registered and employee shareowners
- Shareowner stratification analysis based on shares, geographic region and voting criteria
- Pre-record date shareowner mailing to identify paper or electronic delivery preference
Ron Schneider
Director, Corporate Governance Services
Harness the DFIN’s regulatory expertise, service excellence and online toolset to simplify your annual meeting process, help you better connect with your shareholders, and take full advantage of the SEC’s Notice & Access rule.
A single point of contact throughout your proxy event streamlines the process.
- A dedicated project manager partners with all members of the working group to expertly manage every aspect of the issuer’s event, and determine quantities and requirements under the Notice & Access rule
- Comprehensive checklists, calendar and project plans are in place to manage each task through completion, provide clear communication throughout the process, and help you meet required deadlines
- Assistance composing the Notice of Internet Availability, mailing and merging shareholder records, printing personalized copies and hosting the materials, along with providing the platform for fulfilling full-set proxy requests from shareholders
Custom-branded electronic voting and document-hosting sites enhance your shareholder communications
- Branded sites reflect an issuer’s image and corporate profile and complement the stylized proxy
- Custom-hosting sites are SEC-compliant, touch/tablet enabled, and designed to auto-fit wide screens, and link to social media and voting sites; they also include interactive components, such as visual image sliders, tabbed panels, reminder/info fly-outs, embedded video, and Google maps
- Telephone voting services include a dedicated 1-800 number with a customized greeting
Real-time, online reporting provides up-to-the-minute updates and an evaluation of voting results
- Master tabulator services included
- Choice to log in to the online tabulation tool or receive scheduled reports via email
- Online system reflects both voted and un-voted results
Notice & Access made easy!
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