Village Profile

Quorum Requirement Vote - 2017 Annual Meeting

Calista Corporation Shareholders are voting whether to change the quorum requirement at the 2017 Annual Meeting of Shareholders

The Board of Directors recommends a Yes vote approving this resolution. At least 2/3rds (66.67%) of voting shares (present in person or by proxy) must vote Yes for this resolution to pass. In 2016, 59.1% of Shareholders voted yes.

On average, only 50.15% of Shareholders vote for each annual meeting.

Quorum: Definition 

Quorum is the minimum percentage of outstanding shares needed to hold a valid meeting. For Alaska Native Corporations like Calista Corporation, more than 50% are needed to be represented in person or by proxy.

 

Quorum: YK Tribes Have 31% Average Requirement 

For your Tribes in the YK Delta, 33 shared their quorum requirement with Calista. The average quorum requirement for your Tribes is 31%.

 

Quorum: Calista's Average is Only 50.07% 

The average Shareholder voter participation for all past Annual Meetings is only 50.15%, which is very close to not meeting quorum.

 

Quorum: Yes Vote Means What 

Voting Yes for the quorum reduction resolution means Calista's quorum requirement will change from a majority (over 50%) to 1/3 (33.33%). If Calista doesn't meet quorum the Annual Meeting will need to be rescheduled.

 

Quorum: What if quorum isn't reached 

What happens if too few Shareholders vote? Nothing, if the meeting is canceled. The Annual Meeting isn't valid. Your votes don't count. The meeting must be rescheduled, which can exceed $100,000 (printing, postage, advertising, etc.).

 

Quorum: Why vote yes 

Voting Yes to change the quorum requirement makes it easier for Calista to achieve quorum and hold valid Annual Meetings of Shareholders. If too few Shareholders vote, Calista cannot conduct important business at the annual meetings.

 

Quorum: Expensive to reschedule 

Over $100,000. Rescheduling an Annual Meeting of Shareholders can cost over $100,000 (printing, postage, advertising, etc.).

 

Quorum: How does Calista encourage voting 

Calista encourages Shareholder voting several ways. Making it easier by offering online voting. Lots of prizes: Calista has one of the highest total cash prizes of any Alaska Native Corporation. And advertising: on Facebook, YK Delta paper/radio, faxes to village corporation/Tribal offices.

 

Quorum: Young people are not voting 

Younger people aren't voting. In the 2014 State of Alaska general election, only 40.5% of 18-34 year-old registered voters actually voted. (Source: State of Alaska Division of Elections)

 

Quorum: It's a national problem, too 

According to the National Congress of American Indians, the turnout rate for Native "registerd voters is 5-14% lower than the rate of many other racial and ethnic groups."

 

Quorum: 2/3rds must vote Yes 

For this resolution to pass, Calista needs a Yes vote from 2/3 (66.67%) or more of voting shares present in person or by proxy at the 2017 Annual Meeting of Shareholders.

 

Quorum: Online proxy prizes, too 

Shareholders who proxy vote (paper or electronic) qualify for cash prizes.

 

Quorum: If quorum isn't met 

If too few Shareholders vote (and Calista's average quorum is only 50.15%) and the meeting is canceled, the costs to reschedule the Annual Meeting can be well over $100,000 (printing, postage, transportation, etc.)

 

Quorum: Annual Meeting is July 9 

When is the quorum requirement vote? It's for the 2017 Annual Meeting of Shareholders. 

 

Quorum: Vote online to qualify for more prizes 

Shareholders who vote online at CalistaVote.com are eligible for additional prizes! Online voting info will be in your voting packet. The mailing date has not yet been set.


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