The Shareholder Forum

convening decision-makers in support of long term enterprise value


The Shareholder ForumTM conducts programs to define and resolve issues for shareholder capital commitment and voting decisions, providing both investor and corporate participants with a means of impartial review and fair access to information as an alternative to reliance upon the reports of agents such as proxy advisors or professional activists. Functioning as an independent moderator according to tested policies that allow investors to participate either anonymously or visibly without acting in concert, the Forum provides a unique resource for fiduciaries who are responsible for informed decisions, and for those who can benefit from legitimate information advantages.

Initiated in 1999 by the New York Society of Security Analysts with Gary Lutin as guest chairman to address the professional interests of its members, and independently supported by Mr. Lutin since 2001, Forum programs have achieved wide recognition for their effective definition of issues and orderly exchange of the information and views needed to resolve them. The Forum's ability to convene all key decision-making constituencies and influence leaders has been applied to issues ranging from corporate control contests to the establishment of consensus marketplace standards for fair disclosure, and has been relied upon by virtually every major U.S. fund manager and the many other investors who have participated in programs that addressed their interests.

Requests for Shareholder Forum consideration of an issue may be initiated confidentially by any investor or by the subject company. Forum policies assure an initiator’s effective control of the definition of decision-making issues in terms that are relevant to the common interests of investors and corporate managers in long term enterprise value. (See “Initiating the Definition of Issues.”)


Current Programs



Investor Decisions

Public Interest

Marketplace  Decisions

Walgreen Co.

program to define issues relating to

Stock Buyback Policies

for shareholder consideration in

decisions about a proposed merger



Dell Inc.

special project of the public interest program for

Fair Investor Access

establishing support of

Appraisal Rights

for investor realization of intrinsic value

in a management buyout


see also

Appraisal Rights Investments


Buyout Value Realization

The Forum is actively considering new projects addressing proposed buyouts in which both regulated fund managers and individual investors may benefit from marketable appraisal rights investments for realization of the company's long term intrinsic value. Investors are invited to initiate confidential inquiries about possible attention to companies in which they have an interest.


Fair Investor Access

Establishing consensus marketplace standards

for improved investor access to

decision-making information


July 30, 2014 Forum Report

Supporting the Definition of Issues

to Be Considered by Investors


August 11, 2014 Forum Report

Corporate Responsibilities for

Issue Definition and Information Access


March 11, 2014 Forum Report

The Conference Board’s Task Force

Definition of Responsibilities

for Investor Access


This program was initiated to address

corporate and investor interests reported in

the Forum’s 2010 “E-Meetings” program

that established consensus standards for

Electronic Participation in Shareholder Meetings.

See also related communication issues

addressed in the Forum's

2008 "Say on Pay" program

and in these reports of Forum surveys:

December 14, 2009

Investor Voting Criteria

for Compensation Issues


October 6, 2010

Investor Communication Priorities

for Voting Decisions




Archive of Publicly Open Programs

Since 1999





Inquiries, requests to be included in email distribution lists, and suggestions of new Forum subjects may be addressed to

Publicly open programs of the Shareholder Forum are conducted for free participation of all shareholders of a subject company and any fiduciaries or professionals concerned with their decisions, according to the Forum’s stated "Conditions of Participation." In all cases, each participant is expected to make independent use of information obtained through the Forum, and participation is considered private unless the party specifically authorizes identification.

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.