Latham & Watkins LLP and Georgeson partner again to discuss the topics that public companies and their advisors should know and do to prepare for the 2019 proxy season.
Latham & Watkins partners Steven Stokdyk and Bradd Williamson discuss SEC changes and updates, proxy disclosure issues and drafting tips and filing requirement updates. They also explore shareholder proposals, stock exchange developments and important executive compensation issues that will affect the 2019 proxy season including pay ratio. Viewers will also receive key proxy advisory firm updates that issues should be aware of in 2019.
Georgeson's EVP of Business Development and Corporate Strategy, Don Cassidy, covers 2018 proxy season trends that will likely impact the 2019 season, including shareholder proposals and proponents and institutional investor voting data.
The Russell 3000 (July 1, 2017 through June 30, 2018) saw the largest number of say on pay failures since 2012; 57 companies failed their say on pay vote. In this webcast, Georgeson reviews historical voting support for say on pay in the S&P 500 for each of the top 10 institutional investors by assets under management, and analyzes investor voting patterns on this proposal.
As we enter the 2019 proxy season, environmental, social and governance (ESG) issues are top of mind for both issuers and investors alike. As ESG issues become more mainstream, many investors now feel that ESG management and relevant risk management leads to better company performance and long-term value creation. They're also seeking more ESG disclosure and increasing the sizes of their stewardship teams. This program dives deeper into these topics.
This webcast also includes a review of the 2019 ISS and Glass Lewis U.S. policy updates that were released in the fall of 2018. It also covers BlackRock's 2019 proxy voting guidelines for U.S. securities, its stewardship engagement priorities and Larry Fink's letter to CEOs; Fidelity Management & Research Co.'s proxy voting guidelines updates and State Street's recent letter on corporate culture.
To learn more about important updates to BlackRock's 2019 proxy voting guidelines for U.S. securities, investor stewardship engagement priorities, 2019 Global Corporate Governance Guidelines & Engagement Principles and Larry Fink's letter to CEOs titled, "Purpose & Profit," see "BlackRock Asks Companies to Create Profit Through Purpose and Updates Proxy Voting, Governance and Engagement Guidelines."
Don Cassidy, Executive Vice President of Business Development and Corporate Strategy, Georgeson
Steven Stokdyk, Partner, Latham & Watkins
Bradd Williamson, Partner, Latham & Watkins
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This program was originally presented on January 30, 2019.
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