{"id":15857,"date":"2026-06-04T04:07:00","date_gmt":"2026-06-04T02:07:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=636da5db523bb91a19e19450d31890e8"},"modified":"2026-06-04T04:07:00","modified_gmt":"2026-06-04T02:07:00","slug":"iss-and-glass-lewis-recommend-for-board-declassification-proposal-at-penn-entertainment","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=15857","title":{"rendered":"ISS and Glass Lewis Recommend FOR Board Declassification Proposal at PENN Entertainment"},"content":{"rendered":"<p>\n<i>UNITE HERE Welcomes Support from Leading Proxy Advisors Ahead of PENN\u2019s June 16 Annual Meeting<\/i><\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260603992736\/en\/552568\/4\/logo_UNITEHere.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260603992736\/en\/552568\/4\/logo_UNITEHere.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260603992736\/en\/552568\/4\/logo_UNITEHere.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260603992736\/en\/552568\/21\/logo_UNITEHere.jpg\" \/><\/a><p>NEW YORK--(BUSINESS WIRE)--UNITE HERE today announced that Institutional Shareholder Services (\u201cISS\u201d) and Glass Lewis &amp; Co. (\u201cGlass Lewis\u201d) have both recommended that PENN Entertainment, Inc. (NASDAQ: PENN) shareholders vote FOR the shareholder proposal to declassify the Company\u2019s Board of Directors ahead of PENN\u2019s June 16, 2026 Annual Meeting of Shareholders.<\/p><p>\nThe recommendations delivered by these two major proxy advisory firms represent significant independent support for enhancing shareholder rights and board accountability at PENN.<\/p><p>\n\u201cWe are pleased that ISS and Glass Lewis have both concluded that shareholders should support annual elections for all PENN directors,\u201d said UNITE HERE Director of Gaming Industry Research, Michael Hachey. \u201cThese recommendations reinforce what shareholders have communicated for years: that annual director elections enhance board accountability and are a fundamental governance best practice.\u201d<\/p><p>\nPENN shareholders previously supported board declassification in 2010, yet the Board has not implemented that outcome. Today, annual director elections are widely recognized as a governance best practice among public companies and institutional investors. According to data cited in UNITE HERE\u2019s shareholder communications, declassification proposals in 2025 received average shareholder support of 77.9% and passed at an 86% rate.<\/p><p>\nThe shareholder proposal is non-binding, and it does not call for immediate implementation. Rather, it requests that the Board take the steps necessary to declassify the Board in a manner consistent with applicable law and gaming regulatory requirements.<\/p><p>\nIn its communications to shareholders, UNITE HERE has noted that many leading gaming companies\u2014including MGM Resorts International, Caesars Entertainment, and Boyd Gaming\u2014already maintain annual director elections despite operating in the highly regulated gaming industry environment cited by PENN in opposition to the proposal.<\/p><p>\nUNITE HERE believes annual elections would:<\/p><ul class=\"bwlistdisc\">\n<li>\nSupport long-term value creation by reinforcing confidence in Board oversight;<\/li>\n<li>\nEnhance accountability and responsiveness during a period of significant change in the gaming industry;<\/li>\n<li>\nReduce entrenchment risk and better align PENN with prevailing governance standards and shareholder expectations.<\/li>\n<\/ul><p>\nWith less than two weeks remaining before PENN\u2019s June 16, 2026 Annual Meeting, UNITE HERE urges PENN shareholders to cast their vote FOR the proposal to declassify the Board.<\/p><p>\n<b>YOUR VOTE IS IMPORTANT<\/b><\/p><p>\nThis is not a solicitation of authority to vote your proxy. Please do not send us your proxy card, as it will not be accepted.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nQuestions or want to discuss? Please contact Michael Hachey, Director of Gaming Industry Research, UNITE HERE, at <a  href=\"mailto:mhachey@unitehere.org\" rel=\"nofollow\" shape=\"rect\">mhachey@unitehere.org<\/a> or (703) 344-4778.<\/p>","protected":false},"excerpt":{"rendered":"<p>UNITE HERE Welcomes Support from Leading Proxy Advisors Ahead of PENN\u2019s June 16 Annual MeetingNEW YORK&#8211;(BUSINESS WIRE)&#8211;UNITE HERE today announced that Institutional Shareholder Services (\u201cISS\u201d) and Glass Lewis &amp; Co. (\u201cGlass Lewis\u201d) have both rec&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15857","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15857"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15857\/revisions"}],"predecessor-version":[{"id":15858,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15857\/revisions\/15858"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}