JetBlue Airways Corporation | Support for Special Shareholder Meeting Improvement at JetBlue Airways Corporation

Status
Omitted
AGM date
Resolution details
Company ticker
JBLU
Lead filer
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Shareholder rights
Type of vote
Shareholder proposal
Filer type
Shareholder
Company HQ country
United States
Resolved clause
Shareholders ask our Board of Directors to take the steps necessary to amend the appropriate company governing documents to give the owners of a combined 10% of our outstanding common stock the power to call a special shareholder meeting or the owners of the lowest percentage of shareholders, as governed by state law, the power to call a special shareholder meeting. Such a special shareholder meeting can be an online meeting. This proposal topic is all the more important at JetBlue due to its poor long-term stock performance. JetBlue stock has fallen from $20 in 2021 to $6 in late 2024 during a robust stock market. The best ideas for the turnaround of a company do not necessarily come from the existing shareholders. The fact that one shareholder or a group of shareholders can, with less difficulty, acquire more shares to call for a special shareholder meeting is an incentive for the JetBlue Board of Directors to avoid such a long-term stock price decline in the first place since the continued service of the least qualified JetBlue Directors could be terminated by a special shareholder meeting. This is a good incentive for JetBlue Directors to have.

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