Company: WCC
Filing Date: 2025-03-27
Form Type: PRE 14A
Source: 0001193125-25-065641
Chunk: 71

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-03-27
Form: PRE 14A
Chunk 71
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 with the Right to Request a Special Meeting of Stockholders66while only about 15% have adopted a 10% threshold. As further discussed under “Proposal 5 - Shareholder Proposal to Give Shareholders the Ability to Call for a Special Shareholder Meeting - Board of Directors’ Statement in Opposition to the Shareholder Proposal,” a 25% threshold serves the best interests of our stockholders as a whole by reducing the risk that one or a small minority of stockholders may pursue special interests not deemed critical by our stockholders generally. Providing a special meeting right at a lower threshold may give a small number of stockholders a disproportionate amount of influence over the Company’s affairs. The Board also believes that a 25% ownership threshold is appropriate and consistent with market practice for corporate governance programs.Implementation and Competing ProposalsThe proposed amendment to the Restated Certificate of Incorporation would establish the fundamental right of stockholders holding 25% or more outstanding shares to request a special meeting. If approved, the Board will also adopt certain amendments to ourBy-Lawsto implement appropriate procedural requirements and limitations (which may be updated or modified by the Board from time to time) regarding the exercise of this right, including that requesting stockholders must maintain their qualifying ownership (on a “net long” basis) through the meeting date, while also specifying circumstances under which the Secretary shall not call such meetings, such as when requests do not meet procedural requirements, relate to improper matters, duplicate recent or upcoming meetings, arrive during specified time periods, or would violate applicable laws.Stockholders are being asked to vote on two proposals regarding special meeting rights: this Proposal 3 and a shareholder proposal (Proposal 5) requesting a 10% threshold. If both proposals receive the requisite vote for approval, and Proposal 3 receives more affirmative votes than Proposal 5, only Proposal 3 will be implemented through amendments to the Restated Certificate of Incorporation andBy-Laws.This is because the proposals contain different and mutually exclusive thresholds for calling special meetings.If this Proposal 3 receives the requisite vote for approval and more affirmative votes than Proposal 5, the amendment to the Restated Certificate of Incorporation will become effective upon filing with the Secretary of State of the State of Delaware, which the Company would do following the Annual Meeting. Other than the proposed amendments to Article XI, the remainder of our Restated Certificate of Incorporation will remain unchanged. If our stockholders do not approve this proposal, then the proposed amendment will not be implemented or become effective.Vote Required and Recommendation