Boards will always recommend to vote against shareholder proposals by default. 1000:1
Having a large shareholder indicate they will go with a shareholder proposal is the newsworthy part. It indicates there’s something that should be being addresssed by the board which isn’t already, which is publicly embarrassing for them.
I helped build a system that would estimate the vote for these large institutional investors because if a board tables a vote and a institutional investor votes against it, it’s a really bad look.
Having a large shareholder indicate they will go with a shareholder proposal is the newsworthy part. It indicates there’s something that should be being addresssed by the board which isn’t already, which is publicly embarrassing for them.
I helped build a system that would estimate the vote for these large institutional investors because if a board tables a vote and a institutional investor votes against it, it’s a really bad look.