/biz/ - Business & Finance

Two distractions down, more will pop up. Be warned.

>Tomorrows recap, today

GameStop asking to exclude 8 shareholder proposals at the annual meeting
>Including 6 proposals submitted by household activist investors
>SEC yet to respond
>Accepted proposals will be revealed in 2023 Proxy Materials
>Accepted proposals can include similar, but better formulated proposals
>Accepted proposals can include proposals about different topics

Proposal 1: asking to spin-off GME Entertainment property
>Bases for exclusion
>Impermissibly vague, 14a-8(i)3, 14a-9
>Not signifcant: accounts to operations for less than 5% of total assets, net earnings and gross sales, 14a-8(i)5
>Deals with ordinary business operations, 14a-8(i)7

Proposal 2: asking for public display of number of DRS shares
>Number of shareholders, insider shares, Cede & Co. shares
>Additions and reductions to each type of ownership
>Proposal also asks to nominate Susanne Trimbath to the board of directors
>Bases for exclusion
>Seeks to include specific individual for election to the board, 14a-8(i)
>Deals with ordinary business operations, 14a-8(i)7

Proposal 3, 4, 5, 6, 7, 8: asking for a NFT dividend 1:1 with outstanding GME shares
>All proposals, done by different individuals, mention issuing a NFT dividend for each share held
>Bases for exclusion
>Relates to specific amount of cash or stock dividends, 14a-8(i)(13)
>Deals with ordinary business operations, 14a-8(i)7