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	<title>Mick Beasley Archives - KSTK</title>
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		<title>Discretionary voting before Sealaska shareholders</title>
		<link>https://www.kstk.org/2014/05/20/discretionary-voting-before-sealaska-shareholders/</link>
					<comments>https://www.kstk.org/2014/05/20/discretionary-voting-before-sealaska-shareholders/#respond</comments>
		
		<dc:creator><![CDATA[Ed Schoenfeld, CoastAlaska News]]></dc:creator>
		<pubDate>Wed, 21 May 2014 00:51:00 +0000</pubDate>
				<category><![CDATA[Local News]]></category>
		<category><![CDATA[Syndicated]]></category>
		<category><![CDATA[discretionary voting]]></category>
		<category><![CDATA[Mick Beasley]]></category>
		<category><![CDATA[Nicole Hallingstad]]></category>
		<category><![CDATA[Sealaska]]></category>
		<guid isPermaLink="false">http://www.kstk.org/?p=9416</guid>

					<description><![CDATA[<img width="440" height="206" src="https://www.kstk.org/wp-content/uploads/2014/05/4-shareholders-proxyballot-cropped-e1400633224311.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" decoding="async" fetchpriority="high" /><p>A measure before Sealaska shareholders could alter the way board elections are held. And that could bring leadership changes.</p>
<p>The post <a href="https://www.kstk.org/2014/05/20/discretionary-voting-before-sealaska-shareholders/">Discretionary voting before Sealaska shareholders</a> appeared first on <a href="https://www.kstk.org">KSTK</a>.</p>
]]></description>
										<content:encoded><![CDATA[<img width="440" height="206" src="https://www.kstk.org/wp-content/uploads/2014/05/4-shareholders-proxyballot-cropped-e1400633224311.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" decoding="async" loading="lazy" /><p style="color: #333333;"><img decoding="async" class="aligncenter size-full wp-image-9417" src="http://www.kstk.org/wp-content/uploads/2014/05/4-shareholders-proxyballot-cropped-e1400633224311.jpg" alt="4 shareholders proxyballot cropped" width="480" height="225" /></p>
<p style="color: #333333;">A measure before Sealaska shareholders could alter the way board elections are held. And that could bring leadership changes.</p>
<p style="color: #333333;">The measure comes as 13 shareholders compete for four board seats in the Southeast Alaska regional Native corporation’s annual election.</p>
<p style="color: #333333;">The measure is a resolution proposing limits to what’s called <a href="http://www.sealaska.com/page/elections.html#directors" target="_blank">discretionary voting</a>.</p>
<p style="color: #333333;">That’s an option on Sealaska’s proxy ballot, which lists candidates for the board of directors.</p>
<p style="color: #333333;">When shareholders check a box, they give the board the power to cast their ballots for whomever they see fit. And the board votes for its slate of incumbents seeking re-election.</p>
<p style="color: #333333;">&#8220;It’s an unfair document because of the discretionary voting and that is what has kept all our directors in all of these years,&#8221; says Mick Beasley.</p>
<p style="color: #333333;">He&#8217;s a Juneau carver who’s campaigned against discretionary voting. He’s also one of this year’s six independent board candidates.</p>
<p style="color: #333333;">Beasley authored the resolution that would largely eliminate that ballot option. Then, shareholders would pick and chose from the full list of candidates, including incumbents and their challengers.</p>
<p style="color: #333333;">&#8220;If this resolution passes and we amend our bylaws, it will make it equal voting rights for all shareholders,&#8221; he says.</p>
<p style="color: #333333;">Sealaska&#8217;s board opposes Beasley’s measure.</p>
<p style="color: #333333;">&#8220;They would wipe out what Sealaska believes would otherwise be a valid vote,&#8221; says Nicole Hallingstad.</p>
<p style="color: #333333;">She is Sealaska’s communications vice president and corporate secretary.</p>
<p style="color: #333333;">&#8220;Those shareholders understand exactly what discretionary voting means and are offering their shares in support of the corporation. To remove that discretionary voting option would remove a choice that at least a quarter of our shareholders select on a regular basis,&#8221; she says.</p>
<p style="color: #333333;">The resolution does not completely eliminate discretionary voting.</p>
<p style="color: #333333;">Beasley says it would be allowed when an independent group challenges the board and issues its own ballot.</p>
<p style="color: #333333;">&#8220;If there are two slates, two proxies, then discretionary voting is fair game. When there is only one proxy, and that’s Sealaska’s, they cannot use discretionary voting,&#8221; he says.</p>
<p style="color: #333333;">Shareholders are rarely faced with two slates – and proxies. But this year, they are.</p>
<p style="color: #333333;">A group calling itself <a href="http://www.sealaska4.org/" target="_blank">4 Shareholders for Sealaska</a> has sent out <a href="http://www.sealaska4.org/assets/proxyballot.pdf" target="_blank">its own ballot</a> and posted it online.</p>
<p style="color: #333333;">Margaret Nelson, Carlton Smith, Ross Soboleff and Karen Taug say their combined business experience could help make Sealaska profitable after several years of <a href="http://www.ktoo.org/2014/05/15/sealaska-reports-35-million-loss/" target="_blank">operational losses</a>.</p>
<p style="color: #333333;"><a href="http://www.sealaska.com/docs/IO/2072/2014_Sealaska_Proxy_Card.pdf" target="_blank">The corporate ballot</a> lists board incumbents Sidney Edenshaw, Edward Thomas and Rosita Worl.</p>
<p style="color: #333333;">Spokeswoman Hallingstad says the three bring knowledge and history to Sealaska management.</p>
<p style="color: #333333;">&#8220;The stability of any corporation’s board is something that’s reviewed regularly by business partners (and) financial institutions. So, board stability is something that is of value outside of our shareholders,&#8221; she says.</p>
<p style="color: #333333;">Longtime board member Byron Mallott<a href="http://www.ktoo.org/2014/05/07/sealaskas-byron-mallott-good-time-leadership-change/" target="_blank"> is not seeking re-election</a> because he’s running for governor. That leaves an open board seat, with no incumbent, a rarity for Sealaska.</p>
<p style="color: #333333;">Six independent candidates, running outside of a slate, are also listed on the corporate ballot.</p>
<p style="color: #333333;">They’re Myrna Gardner, Michelle McConkey, Will Micklin, Edward Sarabia Jr. and Ralph Wolfe, in addition to Beasley.</p>
<p style="color: #333333;">&#8220;Everybody was trying to keep it to one or two independents this year. But we’re back to six or seven independents. It’s just the nature of our shareholders,&#8221; Beasley says.</p>
<p style="color: #333333;">The four top vote-getters will win  three-year terms on the 13-member board.</p>
<p style="color: #333333;">Results will be announced at Sealaska’s annual meeting June 28th in Seattle.</p>
<p style="color: #333333;"><a href="http://www.sealaska.com/docs/IO/2072/2014_Sealaska_Proxy_Statement.pdf" target="_blank">Read the full proxy ballot with information about the board slate and independent candidates. </a></p>
<p style="color: #333333;"><a href="http://www.sealaska4.org/" target="_blank">Read the 4 Shareholders for Sealaska website, with information about their candidate slate. </a></p>
<p>The post <a href="https://www.kstk.org/2014/05/20/discretionary-voting-before-sealaska-shareholders/">Discretionary voting before Sealaska shareholders</a> appeared first on <a href="https://www.kstk.org">KSTK</a>.</p>
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