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Apple proposed the preferred stock amendment, the CEO said, after a broader review of its corporate governance practices and that the proposal is meant to eliminate the possibility of issuing so-called "blank check" preferred stock.
WSJ: Apple Calls Proxy Fight a 'Silly Sideshow'
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An even more complex and expensive method is when an insider in a consulate steals blank official passports from the stock before names or pictures have been added and then sells them to illicit brokers who customize and sell them.
CENTERFORSECURITYPOLICY: passport5
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"There are numerous examples of proxy proposals that combine multiple changes to a single corporate document, including elimination of the 'blank check' authority to issue preferred stock, " Apple stated.
CNN: Apple claims Einhorn holding investors hostage
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This loose-leaf book, the work of a retired estate planner, has fill-in-the-blank pages for everything from bank and stock accounts, to life insurance policies, to family medical history and funeral preferences.
FORBES: Organized from Beyond the Grave