BSNC was formed in 1972 as the Alaska Native Claims Settlement Act (ANCSA) regional Alaska Native Corporation (ANC) for the Bering Strait region. BSNC began with 6,333 original shareholders. Today, through gifting and inheritance, BSNC’s shareholder base has grown to more than 8,200 shareholders.
A 1991 amendment to ANCSA expanded the ways ANCs could evolve by granting corporations, through a shareholder vote, the discretion to modify shareholder eligibility criteria. This amendment allowed ANCs to enroll direct lineal descendants of original shareholders. Since then, six of the twelve regional corporations have elected to issue new shares to descendants.
In 2012, the Board of Directors established the Open Enrollment Subcommittee to explore the feasibility of opening shareholder rolls to descendants of original shareholders. Since then, the Board has conducted thorough evaluations, incorporating shareholder feedback, financial analysis, and the long-term vision for BSNC’s future.
Over the years, multiple shareholder surveys have been conducted to assess support for open enrollment. The responses show growing support among shareholders for expanding the rolls. BSNC’s steady financial growth has contributed to this shift, offering shareholders greater confidence in the Corporation’s ability to provide benefits to an expanded shareholder base.
In December 2024, in response to overwhelming shareholder support, the BSNC Board voted unanimously to present opening enrollment for a shareholder vote on the 2025 proxy. The resolution details were carefully developed based on shareholder feedback from the surveys, ensuring that the proposed amendments reflect the priorities and concerns of Our People. This decision reflects the Board’s commitment to shareholder input and its responsibility to ensure BSNC remains responsive to the needs of Our People. By placing the vote on the proxy, the Board empowers shareholders to determine the future of BSNC’s enrollment policies, ensuring alignment with the corporation’s mission, values and long-term sustainability.
For more information visit beringstraits.com/OEresolution.