UPS Adopts Proxy Bylaw
November 17 2017 - 4:15PM
UPS (NYSE:UPS) today announced its board of directors has
adopted amended bylaws that incorporate current best practices and
changes in Delaware law, including proxy access, which allows
eligible shareowners to include their own director nominees in the
company’s proxy materials.
The board adopted proxy access as part of its ongoing commitment
to strong corporate governance practices, following thoughtful
discussions with shareowners through the Company’s long-standing
outreach program. “We engaged with our shareowners and
carefully considered their feedback on this important issue,” said
David Abney, UPS Chairman and Chief Executive Officer.
Proxy access provides a single shareowner, or group of up to 20
shareowners, who has owned at least three percent of UPS’s
outstanding stock continuously for at least three years, the
ability to include director nominees in UPS’s proxy materials for
an annual meeting of shareowners. Shareowners may include
the-greater-of 20 percent of UPS board seats or two directors in
the proxy materials.
“Proactively implementing proxy access is appropriate and
consistent with UPS’s high governance standards,” said William R.
Johnson, UPS Independent Lead Director. “The board of directors is
committed to best practices in corporate governance and taking
actions in line with shareholder feedback.”
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. The company can be found on the web
at ups.com or pressroom.ups.com and its
corporate blog can be found at longitudes.ups.com. To
get UPS news direct, follow @UPS_News on
Twitter.
Glenn Zaccara
404-828-7123
gzaccara@ups.com
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