Glass Lewis’ U.S. research analysts have examined the vote results from the more than 21,000 proposals on which they provided recommendations during the 2012 proxy season. Their findings have been condensed into a highly accessible and informative report, “United States Season Review 2012.” The report analyzes shareholder voting for director elections and governance-related proposals, as well as Glass Lewis’ vote recommendations.
We also provide an in-depth review of the issues surrounding some of the season’s most high-profile meetings—Chesapeake, Wal-Mart, JP Morgan Chase and Nabors Industries. And we discuss trends in the areas of dual-class structures, exclusive forum provisions, action by written consent and supermajority vote requirements.
In addition, the report summarizes results for say-on-pay votes and shareholder proposals. We also examine equity award proposals that failed to receive majority support and briefly look at the compensation practices of the S&P 500 companies reviewed during proxy season.
While the 2012 proxy season may have seemed “ho-hum” compared to 2011—the first year of say-on-pay—the report identifies several instances where shareholders made significant strides in gaining important rights at their companies, as well as others where the shareholders have more work to do.
Glass Lewis clients can access the 2012 issue of the United States Season Review 2012 at GlassLewis.net, or they can contact their Client Services Manager.
All others who wish to view the report can send a request to purchase the report via email@example.com