“Universal Proxy” is full-steam ahead

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Here’s a note from Andrew Droste:

The Universal Proxy Card era is going to have—and is already having—a staggering impact in boardrooms. The Aimco (Apartment Investment and Management Company) -vs- Land & Buildings (dissident) contest took place on December 16 and resulted in the first UPC era dissident nominee (that I’m aware of) to win a board seat over an incumbent. (See 8-K results filed this evening.)

This was a particularly interesting contest to watch as ISS had been supportive of the dissident nominee over the incumbent director that failed to garner requisite support. (See the DFAN14A filing below where the dissident released these recommendations to investors on October 5.)