Proxy Voting
Many investment committees and plan trustees bear fiduciary responsibility for proxy voting in connection with company stock held in employee benefit plans. In some cases, a proxy issue may create a conflict between the committee's fiduciary responsibilities under ERISA and the business interests of the plan sponsor. In such instances, Evercore Trust assumes responsibility for:
- • Overseeing the pass-through of voting on company stock allocated to plan participant accounts
- • Voting stock when voting instructions are not timely received by plan participants
- • Voting stock held in defined benefit pension plans