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May 15, 2023

Companies seek to limit officers’ liabilities this proxy season

Management proposals filed in response to change in Delaware law
Scores of Delaware-incorporated companies are sending proposals to a vote at their AGM this proxy season in an effort to limit their officers’ liabilities. According to Georgeson, 120 companies had filed such proposals as of mid-April and the consulting firm expects that number to rise as more proxy statements are finalized. By mid-April, 22 of those proposals had been voted on: 18 passed, three failed and one result was not disclosed. The average level of support was 92 percent of votes cast.

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Ben Maiden

Ben Maiden is the editor-at-large of Corporate Secretary , an IR Media publication, having joined the company in December 2016. He is based in New York. Ben was previously managing editor of Compliance Reporter , covering regulatory and compliance...
Editor-at-large, Corporate Secretary