GE Adopts Proxy Access Bylaw, Company Says in SEC 8-K Filing

General Electric Co. Feb. 11 said it has amended its bylaws to allow proxy access.

In a Form 8-K filing, the company said its new bylaw—which took effect Feb. 6—allows a shareholder or a group of up to 20 shareholders that own 3 percent or more of stock for at least three years to nominate and include in the company’s proxy materials directors constituting up to 20 percent of the board.

John Olson, a Washington-based partner at Gibson Dunn & Crutcher LLP, told Bloomberg BNA that GE’s move might persuade other companies to consider proxy access.

“GE has long been ...