State the amendments made to Rule 14(a) in 1983 with respect to exclusion of a shareholder proposal

What will be an ideal response?

The Securities and Exchange Commission amended Rule 14(a) in 1983 to allow management to exclude a shareholder proposal if:
a. under the particular state law governing the corporation, the proposal would be unlawful if agreed to by the directors;
b. it involves a personal grievance;
c. it is related to ordinary operational business functions;
d. it is a matter not significantly related to the company's business (the commission has defined this criterion as matters accounting for less than 5 percent of the assets, earnings, and sales of a company);
e. the stockholder making the proposal has not owned more than $1,000 worth of stock or
1 percent of the shares outstanding for a period of 1 year or more (although several shareholders may accumulate shares to meet this criterion); and
f. the shareholder proposal received less than 5 percent of the votes when submitted in a previous year.
Furthermore, shareholders are limited to one proposal per annual company meeting.