iA Financial Group | Improve shareholder participation in annual general meetings (AGMs) at iA Financial Group

Status
Filed
AGM date
Previous AGM date
Proposal number
1
Resolution details
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
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the Board of Directors take the following steps to protect the organization and prevent risks associated with disengagement of savers and investors, who are often individual retail shareholders: 1. Improve the voting experience — Work with transfer agents to simplify the voting process and make it more accessible, including voting at meetings (virtual or in person) and proxy voting. — Demystify the issues on the agenda with interactive guides and explanatory videos — Send personalized reminders or nudges to encourage voting — Modernize communications — Make communications clearer, more eye-catching and more targeted to individual retail shareholders — Speed up the adoption of technological solutions (simplified electronic voting) — Optimize online voting platforms to make them more user-friendly on mobile devices — Improve accessibility to information for shareholders who are less familiar with digital technologies (paper copies of newsletters, telephone help lines, etc.) 2. Target engagement by theme and generation — Incorporate strategic or societal issues likely to generate greater interest among young investors (climate, inclusion, AI, etc.) — Use a simplified format to emphasize shareholder proposals and corporate governance issues — Document participation — Disclose in the circular, in a dedicated section, including a summary table, detailed information on participation at meetings, broken down by in-person and virtual attendance, presented from a multiyear historical perspective going back to at least the pre-COVID period, including where applicable and where possible: i. ii. the number of votes cast in absolute terms (and not only as a percentage) the quorum iii. the number of outstanding voting shares (broken down by category, including multiple voting shares) iv. v. the number of shareholders (individuals or corporations, objecting or non-objecting beneficial owners (OBO/NOBO)) in attendance the number of proxies (individuals) representing them.
Supporting statement
The ongoing decline in shareholder participation, particularly among individual retail shareholders, raises several questions, particularly regarding its causes. A continuous downward trend has been observed for several years and is well documented. A worrying finding: Data from the Broadridge Proxy Pulse Canada(1) reveal: Voting participation by shareholder segment 84.0% 29.4% 29.4% 29.6% 2020 30.8% In 2025, Transat A.T. Inc. had to postpone its annual meeting due to a lack of quorum. Incidents like this, which received media attention(2), create uncertainty in the market and raise concern among interested parties (stakeholders). Several TSX-V mining companies are facing similar situations. By boosting the participation of small shareholders, the Bank will reinforce its democratic legitimacy, improve the quality of dialogue with all holders of its securities and affirm its leadership in terms of modern and inclusive corporate governance. (1) (2) https://www.broadridge.com/_assets/pdf/broadridge-proxypulse-2023-proxy-season-review.pdf https://ici.radio-canada.ca/nouvelle/2161434/assemblee-transat-interrompue-quorum-insuffisant

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Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

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