Here we stand, three months (less five days) since the last shareholder meeting. Nine months remain until the next meeting. 

At the last meeting, proposals for stockholder rights to call a special meeting AND stockholder ability to act by written consent were both passed by a majority of votes. Boards don’t typically act quickly but I sense the clock is ticking on these proposals.

Ignoring the proposals, as is TPL board tradition, will continue to provoke the ire of proxy voting advisors which could have a substantial impact on the next round of elections with 6 out of 10 board members up for re-elections. 

With substantial time needed for preparations for the next meeting (proxy statement prep, proposal vetting, etc), the actual time to act is limited to a fairly small ~6 month window. I’m on the edge of my seat!