Business
Innovative Solutions & Support, Inc. Urges Shareholders to Vote Ahead of Annual Meeting
Independent proxy advisory firms ISS and Glass Lewis Both Recommend Approval of All Items EXTON, Pa.--(BUSINESS WIRE)-- Innovative Solutions & Support, Inc.
About this update from Innovative Solutions And Support, Inc.
[{"type":"text","content":"\nIndependent proxy advisory firms ISS and Glass Lewis Both Recommend Approval of All Items\n\n EXTON, Pa.--(BUSINESS WIRE)--\nInnovative Solutions & Support, Inc. (“IS&S”) (NASDAQ: ISSC) today issued a reminder to shareholders regarding the importance of their vote at its 2023 Annual Meeting, which will be held on April 13, 2023 at 10:00 AM EST. Shareholders are encouraged to refer to the voting instruction forms they received to vote by telephone or internet by the deadline of April 12, 2023 at 11:59 PM EST.\n\nIS&S’s Board unanimously recommends that its shareholders vote in favor of all agenda items. Proposal 1, which amends IS&S’s articles to use a majority, rather than a super-majority, voting standard, to provide the Board with more flexibility to exercise its business judgment to evaluate and pursue future opportunities in the Company’s growth and development. This proposal needs the approval of 65% of all shares outstanding. Consequently, the vote of all shareholders, regardless of how many shares they each own is extremely important.\n\nIS&S also announced that ISS and Glass Lewis, the world’s two leading independent proxy advisory firms, have both recommended that their institutional clients vote FOR all agenda items.\n\nRegarding Proposal 1, the ISS report opined that “The reduction in the voting requirement to a majority of the common stock from 65 percent of the outstanding shares is a step in the positive direction for the company and represents an enhancement in the company's corporate governance structure.”\n\nIn its recommendation for that proposal, Glass Lewis cited its belief that “supermajority vote requirements act as impediments to takeover proposals and impede shareholders’ ability to approve ballot items that are in their interests.”\n\nFor more information on the Company’s Notice of Annual Meeting of Shareholders filing, please visit the Investor Relations page on the IS&S website, or click here.\n\nAbout Innovative Solutions & Support, Inc.\n\nHeadquartered in Exton, Pa., Innovative Solutions & Support, Inc. (www.innovative-ss.com) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for Original Equipment Manufacturers (OEM’s) and retrofit applications. The company supplies integrated Flight Management Systems (FMS), autothrottles and advanced GPS receivers...