Nasdaq's newly released report based on its review of S&P 100 companies' most recent proxy statement disclosures revealed these and other noteworthy takeaways:
- Board composition & evaluation
- 53% of proxies disclosed a “combined” diversity figure representing both gender diversity and additional attributes such as race, ethnicity, nationality or place of birth.
- 59% included high-level disclosure of their board evaluation topics; 22% shared examples of how the results led to changes.
- Information technology/cyber
- 85% included IT in a skills matrix or in their director qualifications narrative.
- 52% say their boards have cybersecurity expertise.
- 82% formally charge a board committee with oversight of cybersecurity - most commonly, the audit committee.
- Human capital management
- 56% emphasized the importance of diversity & inclusiveness.
- 51% disclosed HCM as a priority.
- 48% noted board-level experience on talent matters or - more broadly - HCM.
- Environmental matters and business sustainability
- 80% of companies - nearly all of which have a dedicated sustainability-focused website - highlight environmental or sustainability efforts as a priority.
- 91% have a posted sustainability report.
- 71% have at least one board committee charged with oversight of sustainability-related matters.
The report includes sample disclosures throughout, and a tabular summary of disclosure practices on page 12.
See also "Evolving proxy statements reflect board’s changing role, Nasdaq study says" from Corporate Secretary, and additional resources on our Annual Meeting/Proxy Statement and Proxy Season pages. This post first appeared in the weekly Society Alert!