Gibson Dunn's "Shareholder Proposal Developments During the 2024 Proxy Season" covers shareholder proposal statistics, voting results, and key topics and trends for proposals submitted and reported, withdrawn, and voted, in ISS's databases from January 1 through June 1, 2024, for Russell 3000 annual meetings held on or before June 1, 2024, and noteworthy SEC no-action requests and determinations for the period October 1, 2023 - June 1, 2024.
The always-informative annual coverage also includes key insights on these and other hot topics:
- The ongoing rise in shareholder proposal submissions—and the rise in volume of and support for governance proposals in particular, coupled with ongoing low average shareholder support for environmental and social proposals
- The significant year-over-year increase in no-action requests and ongoing rise in the percentage of requests granted by SEC staff
- The continued proliferation of exempt solicitation filings
A summary of the top takeaways is here.
White & Case noted the top ten shareholder proposals submitted and voted during the 2024 proxy season as of June 30.
On the firm’s governance trends radar are the following additional proposal types: AI transparency proposals, proposals seeking the addition of a negligence trigger to executive clawback policies, and proposals seeking commitment to a fair process for consideration of shareholders’ director nominees.