In this post: “Disclosure Considerations: Nasdaq Board Diversity Matrix,” Goodwin describes the various approaches to board diversity disclosures that Nasdaq-listed companies are taking this season in the absence of the Nasdaq board diversity matrix requirement, consisting of (i) no substantive changes (other than removal of any language that the matrix is required), (ii) use of narrative disclosure or inclusion of diversity as part of a board skills matrix in lieu of the Nasdaq matrix (see, e.g., i3 Verticals, Inc.; Texas Instruments Incorporated; F5), or (iii) removal of the Nasdaq matrix without additional board diversity disclosure (see, e.g., Adobe, Inc., Farmers & Merchants Bancorp and Broadcom Inc.).
The post reminds companies that Regulation S-K Items 407 (Nominating committee) and 401(e) (Business experience) may require diversity disclosure in a manner that is specifically responsive to those disclosure items.