Helen

Newsletter: Key Issues from the 2013 Proxy Season (Aug. 2013)


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During this year’s annual meeting season, issuers experienced better outcomes on say on pay (SOP) and shareholder resolutions, underpinned by a high degree of engagement and responsiveness to past votes. With SOP in its third year, companies addressed many of investors’ and proxy advisors’ pivotal compensation concerns, which was reflected in a modest improvement in …

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2013 Proxy Season Preview: Key Shareholder Proposals (March 2013)


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The 2013 annual meeting season may lack the drama of last year’s Occupy protests and impending presidential election but it will still have its share of challenges for issuers. Revisions to proxy advisors’ pay models and peer groups are already spawning another round of supplemental proxies on Say-on-Pay (SOP), while threats of compensation disclosure strike …

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Newsletter: Proxy Advisors on Majority-Supported Shareholder Proposals (Jan. 2013)


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‘Tis the season of shareholder proposal filings, but the new year may bring additional anxieties for issuers. Proxy advisors Institutional Shareholder Services (ISS) and Glass Lewis have announced in their 2013 policy changes that they are raising the bar on board responsiveness to shareholder resolutions that receive significant support. The potential impact on boards, in …

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(ALERT) The SEC Weighs in on Proxy Access Proposals


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The biggest losers were retail investors affiliated with the U.S. Proxy Exchange (USPX), who saw six of their non-binding resolutions ejected for two types of deficiencies. Proponent victors included Norges Bank Investment Management (NBIM) and Daniel Rudewicz’s Furlong Fund, whose proposals will move forward to a vote.   Download Now

Newsletter: 2012 Proxy Season Review: Shareholder Resolutions (Sept. 2012)


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The 2012 proxy season was a highly active one for shareholder proponents. Through August, over 1,000 shareholder proposals had been filed and nearly 500 were brought to a vote, well ahead of last year’s pace. Although two signature campaigns of the season—proxy access and audit firm rotation—were largely suppressed through company exclusions, shareholder activists more …

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Alliance Say-on-Pay 2012 Mid-Year Review


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This report, which will be updated at the conclusion of the calendar year, will point out some high-level trends in the voting data for companies with low SOP votes so far this year. Following our analysis of these data is a brief section on guidance for issuers, both how to recover from a failed SOP …

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Newsletter: 2012 Proxy Season Preview (March 2012)


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Against the backdrop of a stagnating economy, Occupy Wall Street protests, and a presidential election, 2012 has all the makings of a highly-charged proxy season. However, corporate pre-season actions, including increased shareholder engagement, governance and compensation reforms, and no-action challenges, are softening the polemic and lightening the load of shareholder proposals.With a year of votes …

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Newsletter: Debating Corporate Political Contributions (Jan. 2012)


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With a heated presidential election year underway, corporate political spending is expected to be a mainstay of 2012 shareholder campaigns. Following the 2010 Supreme Court decision in Citizens United v. Federal Election Commission, which lifted restrictions on political advocacy by corporations and unions, campaign finance has exploded, particularly through vehicles such as Super PACs and …

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2012 Proxy Season – What to Expect from Glass Lewis


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Many of the revisions deal with the same issues that Institutional Shareholder Services (ISS) addressed in its policy changes last month (see our Nov. 1, 2011 article), though with some distinctly different approaches. This article covers the key changes Glass Lewis is making for next year.   Download Now

2012 Proxy Season – Audit Firm Rotation


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In the wake of the financial crisis, regulators and shareholder activists alike have been revisiting the issue of auditor independence with a view towards requiring companies to periodically rotate their outside audit firms.   Download Now