The proxy and annual reporting season has begun, with relatively few changes in reporting requirements from last year. Here are some tips to take you through the season and prepare for changes to come.
1. Consider the readability of your disclosure documents, particularly the proxy statement. While it is tempting just to mark up last year’s proxy statement, it is always better to take a fresh look for content and style. Make sure your company’s current strategies are reflected in the overall organization of the disclosure. Consider adding an executive summary to the proxy statement and links throughout the document to take the reader from one section to another.
2. Make sure your company’s website and social media strategies are consistent with its disclosure. The message conveyed on your company’s website and in its social media postings may not be the one you want to present to investors, and (in a worst case scenario) there could be some leakage of material trend information before it is otherwise disclosed. Make sure that the message is consistent and that there is sufficient oversight and review of social media postings.
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Topics: Annual Reports, Audits, Compensation Committee, Conflict Mineral Rules, Disclosure Requirements, Electronic Spiders, Hedging, Independence Rules, Iran Threat Reduction and Syria Human Rights Act, Pledges, Political Contributions, Proxy Statements, Say-on-Pay, SEC, Social Media, Social Media Policy
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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