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Institutional Investors Corporate Governance

Nelson Mullins Riley & Scarborough LLP

Modern Bonus Structures: The Rise of Multi-Factor Incentive Plans

As investor expectations shift, regulatory pressure mounts, and business models evolve, compensation committees are moving away from short-term incentive plans that rely solely on a single financial performance measure. The...more

Womble Bond Dickinson

Guide to Nevada Gaming Law for Institutional Investors

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Over the past several decades Nevada gaming law has permitted public companies, institutional investors and other financial entities to invest in Nevada gaming properties without obtaining a license or a finding of...more

Seyfarth Shaw LLP

Retail Money, Institutional Risks: The New Dynamic in Private Equity

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Private equity (PE) sponsors are increasingly seeking to broaden their investor base by offering retail access to traditionally institutional-only funds. Recently, statements by the SEC indicated the SEC staff will no longer...more

Stinson LLP

FTC and DOJ Provide Critical Clarity on Passive Investment Rules Under Antitrust Law

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In a significant development for institutional investors, the Federal Trade Commission (FTC) and Department of Justice (DOJ) have provided their first explicit statement confirming that engagement with companies on corporate...more

Cooley LLP

ISS’ Global Benchmark Survey: The Primary Questions

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Last week, ISS launched its latest annual ‘Global Benchmark Policy Survey’ – responses are due by August 22nd. Here are the primary questions (I didn’t include the multiple-choice answers)...more

Sheppard Mullin Richter & Hampton LLP

Plain Speaking Wins the Day with D.C. Court of Appeals: Proxy Advisors Are Not Subject to SEC Rule 14(A) Solicitation Prohibition

The United States Court of Appeals for the District of Columbia Circuit recently held that the Securities and Exchange Commission (“SEC”) and the securities industry were effectively “separated by a common language.” Giving...more

McDermott Will & Schulte

SEC hosts roundtable on executive compensation disclosure requirements

On June 26, 2025, the US Securities and Exchange Commission (SEC) hosted a roundtable attended by issuers, institutional investors, third-party advisors, and industry groups to discuss potential updates to current executive...more

Cooley LLP

Glass Lewis Previews Changes to Pay-for-Performance Model for 2026 Proxy Season

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Last week, Glass Lewis issued the client communication below previewing changes to its quantitative pay-for-performance (P4P) model that will become effective for shareholder meetings starting in 2026. The announcement...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2025

In this issue of The Informed Board, we go behind all the talk about companies reincorporating in states other than Delaware. In our lead article and our podcast, we point out that few companies actually moved, and we explain...more

Skadden, Arps, Slate, Meagher & Flom LLP

Making Sure Newly Cautious Shareholders Get the Information They Want

Key Points - Revised guidance from the SEC regarding ownership reporting is making institutional investors circumspect about raising issues with management. - Seeking to influence a company’s executive compensation, or...more

Fenwick & West LLP

Proxy Advisors, Institutional Investors Shift Diversity Policies and Mandates

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Some proxy advisors and institutional investors have made changes to their diversity policies and mandates, including the following ...more

Fenwick & West LLP

SEC Updates CDIs on Schedules 13D and 13G Eligibility

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The SEC published updated Compliance and Disclosure Interpretations on the filing of Schedules 13D and 13G/Shareholder Engagement....more

Latham & Watkins LLP

The Latham Global IPO Guide - 2025 Edition

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This is our global initial public offering guide. It will help you navigate the US portion of a global IPO – in other words, an IPO in which you sell locally listed ordinary shares to investors outside the United States under...more

DLA Piper

To Control or Not to Control: SEC Issues New Guidance Impacting Schedule 13G filers

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The US Securities and Exchange Commission (SEC) recently issued a new Compliance and Disclosure Interpretation, Question 103.12 (C&DI), that may significantly impact how public companies engage with their shareholders....more

Skadden, Arps, Slate, Meagher & Flom LLP

Prepare for Changes to the Shareholder Engagement Process

As companies prepare for engagement with their shareholders in connection with the 2025 annual meeting season, they should be prepared for a change in the approach followed by institutional investors. These changes are being...more

Cooley LLP

Special Time-Sensitive Complications for the 2025 Proxy Season

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As most public companies know, shareholder outreach is often an important part of the playbook when a company is seeking approval of compensation-related proposals at an annual meeting. A company may engage with shareholders...more

Cooley LLP

Policy Updates and Considerations for Proxy Season

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Public companies find themselves rethinking disclosures relating to the diversity of their board and their director recruitment practices as they head into proxy season, given recent developments – including the US Court of...more

Dorsey & Whitney LLP

SEC Division of Corporate Finance Updates C&DIs Related to the Eligibility to File Schedule 13G

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On February 11, 2025, the Securities and Exchange Commission Division of Corporate Finance (Corp Fin) posted two Compliance and Disclosure Interpretations (C&DIs): revised Question 103.11 and new Question 103.12 related to a...more

Latham & Watkins LLP

Shareholder Engagement Practices Under New SEC Guidance on Schedule 13G Eligibility: FAQs

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The SEC Staff recently issued new guidance (C&DI 103.12) on how a shareholder’s engagement with a company’s management could disqualify the shareholder from using the SEC’s short-form Schedule 13G....more

Cooley LLP

SEC Staff Adopts Significant New Guidance Affecting Shareholder Proposals and Engagement

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On February 11 and 12, 2025, the staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission (SEC) provided a pre-Valentine’s Day treat for public companies and shareholders to digest in the...more

Morrison & Foerster LLP

2025 ESG + Sustainability Predictions

In 2024, challenges to environmental, social, and governance (ESG) and sustainability initiatives in the United States proliferated internationally. This proved true, even as Europe promoted additional ESG and climate/social...more

Latham & Watkins LLP

It’s in the Stars - HM Treasury Recasts and Pushes Forward PISCES

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The world’s first regulated private/public crossover market is significantly redesigned as a friction-free “private up” rather than “public down” market with rethought approach to disclosure and market abuse....more

Venable LLP

ISS Releases 2025 Policy Survey

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Institutional Shareholder Services Inc. (ISS) recently released its Annual Benchmark Policy Survey (the "Policy Survey"). In keeping with its prior practice, ISS seeks responses from institutional shareholders, issuers,...more

Cooley LLP

Surprising pushback on Delaware proposed amendments

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Recently, the Council of the Corporation Law Section of the Delaware State Bar Association proposed some amendments to the Delaware General Corporation Law, as they do with some regularity. (See this Alert from the Delaware...more

Goodwin

What’s in a Name? Why Your “Dual Class” IPO Should Be a “Dual Series” IPO Instead

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We recently represented Klaviyo, Inc. (NYSE: KVYO), in its $576 million initial public offering on the New York Stock Exchange. As has been extensively reported in the media, Klaviyo’s very successful offering represented the...more

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