NOBO
Pronunciation: noh-boh
Also written as: NOBO — Non-Objecting Beneficial Owner
Non-Objecting Beneficial Owner — a beneficial owner who has consented to having their contact information disclosed to the issuer of the securities they hold.
Full Definition
A Non-Objecting Beneficial Owner (NOBO) is an investor who holds securities in street name through a broker but has indicated that they do not object to the broker releasing their name and address to the issuing company. This allows the issuer to communicate directly with NOBO holders for purposes such as sending proxy materials, annual reports, or other corporate communications. Transfer agents and proxy service providers use NOBO lists obtained from Broadridge Financial Solutions to facilitate direct mailings. The counterpart is the Objecting Beneficial Owner (OBO), who withholds consent and must be communicated with indirectly via their broker.
Usage
Usage note: Render as 'NOBO' (full caps) on first use. Always contrast with 'OBO' (Objecting Beneficial Owner) when the distinction is editorially relevant.
In Context
- "The company purchased the NOBO list to send the supplemental proxy materials directly to non-objecting beneficial owners." — Proxy distribution plan
- "Unlike OBO holders, NOBO shareholders may receive communications directly from the issuer." — Transfer agent service description