Apple Inc., Cupertino, Calif., shareholders will be able to use corporate proxy materials to nominate up to 20% of the company's board of directors, the company announced in a Securities and Exchange filing on Monday.
The new proxy-access bylaws apply to single shareholders, or groups of up to 20 shareholders, who have owned at least 3% of Apple stock for three continuous years.
The largest institutional shareholders of Apple stock are Vanguard Group, with 5.97% of stock, and BlackRock, at 5.74%.
Apple spokesman Josh Rosenstock said in an e-mail that the company has no further information to add to the filing.
