NETFLIX, INC. | Right To Act By Written Consent at NETFLIX, INC.

Status
Filed
Previous AGM date
Resolution details
Company ticker
NFLX
Lead filer
John Chevedden
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Shareholder rights
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Discretionary
Company HQ country
United States
Resolved clause
RESOLVED : Shareholders request that the board of directors take the necessary steps to permit written consent by the shareholders entitled to cast the minimum number of votes that would be necessary to authorize an action at a meeting at which all shareholders entitled to vote thereon were present and voting (without any unnecessary restriction based on length of stock ownership or the method by which shareholders hold their shares). 
Supporting statement
This includes shareholder ability to initiate any appropriate topic for written consent. This includes that any associated request for a record date shall have the lowest allowable percent of shares. This includes that written consent not include a solicitation clause mandating a certain percent of shares be solicited unless legally required. Shareholders acting by written consent and calling for a special shareholder meeting are 2 means that shareholders of a company can use to put forth a proposal on a timely basis without waiting for the annual shareholder meeting. This proposal topic won 52% support at the 2018 Netflix (NFLX) annual meeting. The 2018 shareholder proposal for a shareholder right to call for a special shareholder meeting also received more than 50% support at the same 2018 meeting and was adopted by NFLX. But this proposal topic has yet to be adopted. A shareholder right to act by written consent could incentivize NFLX directors to be more vigilant and more alert to face future opportunities and headwinds.

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