You have the option to mail to those beneficial holders who have declined to receive meeting material.
For example, some issuers choose to mail to ALL beneficial holders in the case of a special meeting where shareholder representation is critical.
When Beneficial owners open a brokerage account, they must specify which materials they wish to receive from the Issuer. They can choose from the following material receipt options:
- A - they wants to receive all materials
- S - they want to receive material only for special meetings
- D - they decline to receive all material
In certain circumstances, you may want to send materials to owners coded "S" or "D" even though it is not a legal requirement. This option would be worth considering in circumstances where you are concerned that it may be difficult to reach quorum or where resolutions require a high percentage to pass.