Last year, insurgents got enough votes to replace two incumbents, but the election failed for lack of a quorum. We expect this year to be similar but with significantly different procedures and bigger turnout. Here is how we plan to cover it. Please forward this to interested friends and neighbors and suggest they sign up to receive their own email updates.
We will report on the new, tighter processes and deadlines in effect this year and any issues or controversies that arise. We will reach out to management to get answers to frequently asked questions, such as whether Company funds or staff time may be used to support any candidate or harvest proxies. We will also ask whether incumbent Board members may endorse or use their personal time, money, and energy to campaign for themselves or others.
We will publish as much information as we can about the candidates and their platforms. We will attempt to interview them all and provide links to their online materials such as bios, candidacy statements, and websites. We will report on their campaign communications such as mailings, flyers, and yard signs.
If we can get information in the days before the meeting about progress toward making a quorum, we will publish that.
Unlike last year, the meeting this year may be held entirely in person. If there is a Zoom option, we will report that, including how shareholders can vote if not physically present in the meeting. We will have a post explaining “cumulative voting,” which is very rarely used elsewhere but is mandatory for Crestview. Cumulative voting makes our proxy and voting procedures more complicated and dilutes the advantages of incumbency and being in the majority.
We will report highlights of the Annual Meeting itself. Was there a quorum, and who won? What is the status of our two well projects. What other reports were given by officers? What issues were discussed by shareholders? In addition to the election, were there votes on other matters? When and how can shareholders get official results? If, after the results are official, the Board holds an “organizational meeting,” who will be our officers for the next year?
Could we do more? Please put your suggestions in a comment below.