|Staples, Inc. Enhances Corporate Governance with Proxy Access|
“Our decision to adopt proxy access reinforces the Board’s commitment to
enhancing our governance standards to align with evolving best
Proxy access provides an opportunity for shareholders to nominate director candidates in Staples’ proxy statement. The by-law amendment allows for a stockholder, or group of up to 25 stockholders, to include in Staples’ proxy materials director nominees constituting up to two individuals or 20% of the board, whichever is greater, provided that the nominating stockholder(s) own a number of shares representing 3 percent or more of the total voting power of the Company’s outstanding shares of capital stock entitled to vote in the election of directors continuously for at least three years. The proxy access procedure will be first available to stockholders in connection with Staples’ 2016 annual meeting of stockholders.
For further information please see Staples’ amended and restated by-laws posted on the corporate governance section of Staples’ website.