Implications of Governance Changes on Shareholder Rights

ABC Corp, a publicly traded company, has recently gone through a series of governance changes stemming from the latest annual shareholders' meeting. During this meeting, a contentious decision was made regarding board member elections and the proposed compensation packages for key executives. Shareholder advocates are concerned that the voting mechanism employed by the management may dilute the rights of minority shareholders.

The new bylaws stipulate that only shareholders owning over 5% of the company's shares have the right to propose agenda items at future meetings. Furthermore, management's ability to implement 'poison pills' remains intact. Analyze the implications of these governance practices in the context of shareholder rights and identify which of the following statements accurately reflects a potential violation of shareholder rights.