It is impossible to discuss this proxy season without acknowledging the impact that the COVID-19 pandemic has had and its resulting highs and lows.  While the virus has upended the planning and conduct of annual shareholder meetings, it has also caused regulators, issuers, third-party vendors and other market participants to collaborate to avoid significant disruption this season. The SEC has nimbly stepped into the fray with guidance and relief for issuers. State governments have issued emergency orders or amended legislation to allow for virtual shareholder meetings. Investors and proxy advisory firms have issued more flexible policies, all of which taken together has allowed meetings in the United States to proceed. Here are the key trends we are seeing mid-season.

If you have any questions regarding the matters covered in this publication, please reach out to any of the lawyers listed below or your usual Davis Polk contact.

This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.

Related materials

Read the full update
Copy link to share post