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Your business is moving fast. You need to assess new developments quickly, determine if they apply to your business, and act accordingly. The Ticker is designed to focus your attention on key developments in the areas of SEC compliance, capital markets, corporate governance, executive compensation and other matters important to public companies and their officers and directors. Below are summaries of recent developments in these areas.
With half of the year completed, commentators are noting trends in 2016 proxy season voting results. Overall, shareholder support in director elections declined in 2016 compared to 2015, and shareholder proposals involving proxy access were the shareholder proposals most likely to garner majority shareholder support. According to a joint report by PwC and Broadridge, 151 directors at 64 different companies failed to achieve majority shareholder support so far in 2016, compared to 126 directors for the same period last year. The Manhattan Institute’s Proxy Monitor noted that social policy shareholder proposals constituted almost half of all proposals by type, with environmental and political spending concerns leading the way. For the first time, one shareholder proposal concerning corporate political spending received majority shareholder support over board opposition, the first such result among 455 proposals at large U.S. public companies in the past 11 years. Read various 2016 Proxy Monitor reports.