Exchange Act Rule 14a-4(a)(3) concerns the "unbundling" of separate matters that are submitted to a shareholder vote by a company or any other person soliciting proxy authority. These Compliance and Disclosure Interpretations ("C&DIs") comprise the Division's interpretations of Rule 14a-4(a)(3) generally. For guidance on the application of Rule 14a-4(a)(3) in the specific context of mergers, acquisitions, and similar transactions, refer to the Compliance and Disclosure Interpretations (Regarding Unbundling under Rule 14a-4(a)(3) in the M&A Context. The bracketed date following each C&DI is the latest date of publication or revision.