Hospitality Properties Trust board abolishes annual director elections, defying years of investor votes, reports UNITE HERE

Less than two months before Hospitality Properties Trust [Nasdaq: HPT] was to begin annual director elections for its entire board of directors – for the first time in its history – the board abruptly reversed course, reinstating multi-year, staggered terms for directors.

HPT’s move comes as a slap in the face to investors who voted for five years in support of annual director elections, then voted for three years to protect this right from a Maryland state law loophole. Read more

Citing a “Troubling Lack of Responsiveness” at Hospitality Properties Trust, ISS recommends shareholders vote the Blue Card, says UNITE HERE

UNITE HERE announced today that proxy advisory firm Institutional Shareholder Services (ISS) recommends shareholders of Hospitality Properties Trust (NYSE: HPT) vote the BLUE proxy card FOR the UNITE HERE’s proposal to opt out of Maryland’s Unsolicited Takeovers Act (MUTA) and require prior shareholder approval to opt in, thereby securing shareholders’ right to annual director elections at the June 1st annual meeting.

ISS recommends PNK shareholders vote FOR six proposals protecting shareholder rights in the event of a spin-off

NEW YORK–(BUSINESS WIRE)–UNITE HERE announced today that proxy advisory firm Institutional Shareholder Services, Inc. (ISS) recommends shareholders of Pinnacle Entertainment, Inc. [NYSE: PNK] support six shareholder proposals aiming to protect shareholder rights in the event of a spin-off. The proposals address shareholder rights at any spin-off company, including management’s proposal to spin-off real estate assets into a new REIT, or Gaming and Leisure Properties, Inc.’s (NASDAQ: GLPI) alternative plan to spin-off an operating company and then acquire the remaining real estate assets. UNITE HERE submitted the package of corporate governance proposals for the May 19 Annual Meeting.