Avid Bioservices Inc (CDMO)

[Big On Tarvy]

Moby, Thanks for your post 27496. Good information

When you say that “your shares can be voted by the broker if you do not vote yourself,” is it correct to add that this is only true for “routine” matters?

I’m still trying to figure out how a vote on a r/s can be considered “routine” when Delaware law says it requires a higher vote than most matters – i.e. an absolute majority of the votes entitled to be cast, not just a relative majority of the votes actually cast. See Section 242(b)(1) of the Del. General Corporation Law.

Doesn’t this section of Del. law in effect define a r/s vote to be a “non-routine” matter?