"Key Proxy Statement Disclosure Trends" from Argyle and King & Spalding very effectively showcases good proxy disclosure across a broad range of topic areas. Each disclosure topic is presented with a number of 2019 proxy statement excerpts that illustrate current trends and investor expectations (accompanied by a link to the full proxy), and King & Spalding's associated disclosure tips for the 2020 proxy season.
Coverage areas include:
- Messages from Leadership
- Shareholder Engagement
- Board Composition
- Board Evaluations
- Diversity and Human Capital Management
- Corporate Culture
- Corporate Purpose and Values
- ESG
- Risk Oversight/Cybersecurity
- Enhanced Audit Committee Disclosure
- Strategy
- Pay-For-Performance Alignment
- CEO/NEO Performance Scorecards
- Alignment with Investor Stewardship Group Governance Principles
- Proxy Voting Summaries
Although not addressed on a stand-alone basis, trends in the use of graphics, colors and other visual design elements to convey information in a way that promotes readability are apparent throughout.
See also these recent reports: "Proxy Statement Design & Disclosure: Best Practices & Trends," "Human Capital Management Disclosures" and "Guide to Effective Proxies: Samples Galore!" and numerous additional resources on our Annual Meeting/Proxy Statement page. This post first appeared in the weekly Society Alert!