There is a developing consensus among investors to support proxy access shareholder proposals — modeled on the SEC rule that was successfully challenged and invalidated on procedural grounds — that provide the access right to holders or groups of holders owning at least 3 percent of a company's shares for at least three years, allowing for the nomination of candidates for 20-25 percent of board seats. In 2014, three-year, 3 percent of shares, one-quarter of the board proxy access shareholder proposals received majority support at Abercrombie & Fitch, Big Lots, Boston Properties, International Game Technology, Nabors Industries and SLM Corp. Also, Nabors and Kilroy Realty adopted three-year, 5 percent proxy access bylaws, and McKesson Corp. agreed to propose a proxy access bylaw at its 2015 annual meeting.