Corporate Governance Update
In just two years, 40% of companies in the S&P 500 have adopted proxy access, proving again that shareholders are effective in using private ordering to secure additional shareholder rights. Based on the speed with which companies are adopting proxy access, we expect proxy access to become a majority practice among the S&P 500 within the next year.
As a follow-up to our previous Sidley Corporate Governance Reports on proxy access, this report provides an update on voting results on shareholder proxy access proposals in 2016 as well as recent developments in the area. It also includes an Appendix which highlights, on a company-by-company basis, the various detailed terms of proxy access provisions adopted by 118 companies in 2015 and 123 companies so far in 2016.