The SEC commissioners voted 5-0 at a public meeting to allow companies to provide the annual proxy material electronically rather than requiring them to mail the bulky documents to shareholders. The proposal, which was opened to a 60-day public comment period, is expected to save U.S. corporations some $500 million a year or more in printing and postage costs.
It could be formally adopted by the SEC sometime after the comment period, but would not take effect until 2007.
