"Key Proxy Statement Disclosure Trends - Corporate Governance" from Argyle and King & Spalding highlights good proxy disclosure across a broad range of corporate governance and board leadership topics. Each disclosure topic is presented with a number of 2020 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 2021 proxy season.
Coverage areas include:
- Messages from Leadership
- Shareholder Engagement
- Board Composition
- Director Skills & Qualifications
- Board Evaluations
- Risk Oversight
- Enhanced Committee Disclosures
- Corporate Governance Highlights (including examples showing alignment with the Investor Stewardship Group Corporate Governance Principles)
- Beyond the Boardroom (e.g., non-boardroom activities such as director education, site visits, shareholder/stakeholder engagement)
As is the case with other proxy disclosure resources we have highlighted, the corporate governance disclosures illustrate the extensive use of graphics, tables, color and other design elements that enhance readability and visual appeal.
Argyle's "COVID-19 Disclosures in Proxy Statements" similarly provides noteworthy examples of pandemic-related disclosure (often included in letters from the company leadership) spanning employee health and welfare; executive/director pay changes; community, customer, and vendor/supplier support; corporate recovery and resilience; and much more, based on 2020 proxy statements, which can inform companies' disclosure for the upcoming proxy season.
See last week's reports: "Effective Proxy Disclosure: Here's How!" and "Executive Compensation Disclosure: Practical Guidance" and numerous additional resources on our Proxy Statement page. This post first appeared in the weekly Society Alert!