Shareholders / Annual Meeting

Annual Shareholder Meeting

Each year, shareholders gather to elect directors and conduct the business of the corporation. Every share has a voice, whether you attend in person or by proxy.

The Meeting

The annual shareholders meeting of Northway Natives, Inc. is held at a date, time, and location set by the Board of Directors. Before the meeting, every shareholder is mailed a notice of annual meeting, a proxy statement, a proxy form, and the annual report, as required by Alaska law and the corporation's bylaws.

At the meeting, shareholders elect members of the Board of Directors and may conduct any other business properly brought before the meeting.

51% of the total 20,600 shares must be present, in person or by proxy, to form a quorum.

A quorum is the minimum number of shareholders legally needed before the corporation can conduct business. Without a quorum, the meeting and election cannot go forward, which is why returning your proxy matters.

Mountains rising above a river valley in the Upper Tanana region
Proxy Voting

Not every shareholder can attend in person, and it would be practically impossible to reach a quorum if personal attendance were required. A proxy is a written document that authorizes someone to represent you at the meeting.

General Proxy

The person holding your proxy may vote in your place, using their best judgment.

Special Proxy

States exactly how your votes must be cast, such as for certain directors in the amounts you specify, or "yes" or "no" on certain questions. The holder must vote exactly as directed.

Valid Proxies

  • A proxy must be written, signed, and dated, and must name who is authorized to represent you.
  • If you sign and submit a proxy without naming a proxy holder, you designate the Board of Directors to submit your votes.
  • You may sign more than one proxy, but only the last one signed is counted.
  • Parents who are custodians of their children's stock may also execute a proxy for that stock.
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Deadlines & Oversight

Filing dates for proxies are set by the Board of Directors and announced in the notice of annual meeting. They apply to all proxies filed for the meeting.

The NNI proxy form meets all legal requirements under the Alaska Administrative Code and Alaska Statutes. If you use a different form, it must follow the same guidelines.

Inspectors of election monitor the entire election process and are present at each annual meeting to process the voting and announce the results.

Electing Directors

Cumulative Voting

NNI's bylaws use cumulative voting to elect directors. The number of votes you can cast equals the number of shares you own multiplied by the number of director seats being filled at that election.

You may cast all of your votes for one candidate or spread them among several. Provided a quorum is present, the three candidates with the most votes are elected.

Example 100 shares × 3 seats = 300 votes

Cast all 300 for one candidate, or divide them among several candidates however you choose.

The Board of Directors

9 Directors
3 Year terms
3 Seats elected each year
  • Terms are staggered so that only three seats are up for election each year.
  • To serve on the board, you must be a voting shareholder of NNI and at least 18 years of age.
  • Directors attend several board meetings each year, set the overall direction of the corporation, select the administrator, elect board officers, and appoint board committees.

Need a Proxy Form?

Contact the NNI office at P.O. Box 401, Northway, Alaska 99764.

Call (907) 778-2298