Any Issues Voting?

tpltblogger13 Comments

Below is a letter from a reader. I’m posting to see if anyone else uncovered any issues in voting for the upcoming “meeting”.

Everything was smooth my end. Accounts at two different brokerages presented my prior votes to me. I made no changes.

Hi from Canada.
Two days ago I received voting instructions via snail mail, for May election, for 4 of the 5 accounts in which I own TPL. I voted by phone these 4 accounts. In every case I was informed my shares had already been voted, but I was allowed to change them.
The fifth account where most of my shares are held did not get voting instructions via snail mail. However approximately 1 month ago I received via e-mail voting instructions for TPL. Today I attempted to vote these shares, turns out this was my fifth and largest account. The site was not live, however it said these shares had already been voted, and I was not allowed to change the vote whatever it was. I have contacted the company for assistance.
Seems all my shares were voted by someone other than me. Thought I’d put this out there to see if anybody else has had the same experience. Thanks.
Reader

13 thoughts on “Any Issues Voting?”

  1. The bank trust department with my account said they have received nothing on TPL since the proxy voting last fall.

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  3. My shares also showed that I had already voted when I logged in. TDAmeritrade

    Regards, Joe

    >

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  5. My understanding is that the May meeting is voting on the same proposals as the 2022 Annual meeting? IF so, then it appears that our prior votes will stand unless we change them. At least that is what it looked like in my Schwab account. Am I missing something?

    Is this Mngt trying another route to get what they wanted?

    Liked by 2 people

  6. I think they are still trying to push thru the same votes as the earlier annual meeting. You probably have to contact your broker to adjust your vote, though probably – like all intelligent investors – readers of this blog have already voted no.

    Liked by 1 person

  7. This is off topic, but I’m growing increasingly concerned with HK and their risk management around crypto. They’d be forced sellers of TPL if there were any issues around crypto, though I know they have some interesting ways of playing it.

    Let’s just say they’re are a crypto friendly fund company and if people pull assets past a certain point, they’ll have to sell their largest holding.

    SVB, SI, Circle, etc etc etc making the front page every day isn’t good for HK.

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  8. This is off topic, but I’m growing increasingly concerned with HK and their risk management around crypto. They’d be forced sellers of TPL if there were any issues around crypto, though I know they have some interesting ways of playing it.

    Let’s just say they’re are a crypto friendly fund company and if people pull assets past a certain point, they’ll have to sell their largest holding.

    SVB, SI, Circle, etc etc etc making the front page every day isn’t good for HK.

    Like

  9. I found that often shares in fee based managed accounts are by default voted with ISS or other groups. Whomever they hired.

    Shares can often be journaled to non managed account before record date. In some cases firm will will you opt out and vote your own.

    Liked by 1 person

  10. On another note: the recent end to HK’s purchases could be because they may have hit 23.5% ownership of TPL. Wording in the proxy statement seems to currently cap HK ownership at that level.

    The guys at Special Situation Investing have been following TPL closely and giving good insights.

    https://specialsituationinvesting.substack.com/p/tpls-governance-battle#details

    https://specialsituationinvesting.substack.com/p/texas-pacific-land-revisited

    https://specialsituationinvesting.substack.com/p/texas-pacific-land-847#details

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