SiliconBeat

Sometime in the last year, Apple seems to have changed the way it tallies shareholder votes.

At its annual meeting with investors in February, Apple announced that shareholders had voted down all investor-sponsored proposals, including a widely watched one that urged the company to allow shareholders to vote every year on its executive compensation practices.

The result was something of a surprise, given that a similar say-on-pay proposal had passed the previous year and the say-on-pay movement has been gaining strength ever since.

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Back in November the board of LookSmart, the San Francisco supplier of online advertising software, enacted an anti-takeover device known in governance parlance as a shareholder rights plan, more commonly called a “poison pill,” designed to be swallowed in the event of a hostile takeover bid.

Under the plan, current shareholders were given options to buy Read the rest of this entry »