Despite factors that might have otherwise presented challenges for activists, shareholder activism in Canada proved resilient in 2025. The passing of a year marked by geopolitical and economic uncertainty – a trend which...more
In April 2017, we released our inaugural comprehensive survey of Corporate Governance Trends in the Public REIT Sector: An Evolving Landscape, updated in 2019, which measured and reported on an array of corporate governance...more
Here’s an excerpt from an entry on “Cooley’s M&A Blog” penned by Jamie Leigh, Sean Brownridge, Bill Roegge, Kevin Cooper, Lucas Wherry and Simon Trisk about recent shareholder activism trends and what to expect this year:...more
AI has become a regular boardroom topic as its applications proliferate and its evolving capabilities pervade daily life. Boards are formalizing AI oversight and signaling that AI is integral to long-term strategy. Nearly...more
A “short attack” is a campaign in which a short seller publishes a critical report about a target company in order to profit from the ensuing decline in the company’s share price....more
Activists enjoyed a banner year in 2025. From proxy contest wins at blue-chip companies to a partnership with Taylor Swift’s fiancé, engaged shareholders once again demonstrated their capabilities, creativity and readiness....more
Companies continue to be pressured to move away from the conglomerate model and toward simplified and targeted strategies and risk profiles....more
Shareholder activism in the public real estate investment trust (REIT) sector has accelerated in recent years, with over 100 public campaigns and related engagements launched since 2020. As M&A markets regain momentum and...more
Effective shareholder engagement is a business imperative. Companies that do it well are more likely than others to build investor trust, anticipate investor expectations, protect against activism, and earn support for...more
Public company boards are operating in a tougher environment. Regulators expect more, investors are better organized, and activists have better tools. The old practice of checking an “independent” box once a year and...more
2025 has been a reasonably active year for the public M&A market in the UK. It started strongly, with the first half experiencing the highest deal volumes in any six-month period for several years, although the volume of...more
If precatory proposals are not a guaranteed option, proponents could look to submit binding shareholder proposals under Rule 14a-8 as an alternative, which in practice means binding bylaw proposals that would have direct...more
Wilson Sonsini’s 2025 Silicon Valley 150 Corporate Governance Report reviews the corporate governance practices and disclosures of Silicon Valley’s largest public companies. The report includes information regarding board...more
Public companies in the U.S. could soon be freed of the obligation to report financial information every quarter. The Securities and Exchange Commission (SEC) has indicated it will support shifting to a semiannual reporting...more
Heading into an initial public offering (IPO), companies spend significant time considering board and committee composition, capital structures, shareholder rights and other governance matters. ...more
Stockholders submitted more proposals at Silicon Valley’s 150 largest public companies this year, but those proposals were less successful, according to our analysis of 2025 proxy season results among the SV 150 and the S&P...more
Shareholder activism in the banking sector is on the rise in the United States. To date in 2025, there have been 13 activism campaigns against banks, already surpassing the 10 campaigns from 2024. Importantly, 10 of the 13...more
Engaging with shareholders and responding to shareholder activism continue to be top-of-mind for public companies. These situations present opportunities for management teams and boards of directors to work together to...more
I’ve blogged a few times about how the SEC Chairman Paul Atkins has delivered a speech in which he stated that one of his top priorities is to make being a public company an attractive proposition, with eliminating precatory...more
In the headlines today, it is common to see announcements about activist campaigns or activists taking equity positions in public companies. Nonetheless, full-scale proxy fights have become relatively rare. Most public...more
Major proxy advisory firm Glass Lewis announced that it will stop offering its standard benchmark proxy voting guidelines in 2027, and transition clients to differentiated client frameworks. Glass Lewis’ change comes amid a...more
Exxon Mobil Corporation (Exxon) has begun implementation of its retail voting program, following the receipt of no-action relief from the Securities and Exchange Commission (the SEC). In support of this program, Exxon will...more
Withhold campaigns are not new. However, according to Diligent Market Intelligence, 33 distinct activist withhold campaigns took place in the 12 months ended June 30, 2025, up from 23 in the same period of 2023–24 and 24...more
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
Join us for the next KPMG Board Leadership Center quarterly webcast as we discuss trends from the 2025 proxy season. Topics to be discussed include: - A look at proxy voting trends and outcomes - The board’s story and...more