For the second consecutive year, corporate governance activist John Chevedden was the top sponsor of proxy proposals at U.S. companies.
The Los Angeles-based retired engineer sponsored or co-sponsored 80 14a-8 proposals for annual meetings held during 2012.
Chevedden sponsored proposals on a variety of governance and shareholder rights issues, ranging from executive and director compensation,
requiring an independent board chair, proxy access, eliminating supermajority vote requirements, and providing shareholders the right to call special meetings
or act by written consent. Overall, individual investors were the leading sponsor of proxy proposals in 2012. Individual investors sponsored
or co-sponsored 332 total proxy proposals, representing approximately 42% of the 794 publicly disclosed 14a-8 proposals for the year.
Interestingly, just six individuals, Chevedden, father and son William and Kenneth Steiner, Gerald Armstrong, Evelyn Davis, and James McRitchie were responsible
for 64% of the proposals sponsored or co-sponsored by individual investors (212 out of 332 proposals).