ISS STOXX finds AI-related shareholder proposals have grown for five years even as environmental and social proposals declined. Investors now question whether disclosed AI oversight is adequate, and may turn to dialogue and proxy votes if proposal rules tighten.
Reality
- Evidence35
- Adoption
- Insufficient
- Hype gap+10
- Incentives55
- Confidence35
Silicon Valley 150 companies averaged 89.2% say-on-pay support in 2026 against 88.1% at the S&P 100, a Fenwick & West survey found. The Valley also had more failed pay votes and weaker director floors, so its boards have a wider range of outcomes to plan against for 2027.
Reality
- Evidence66
- Adoption
- Insufficient
- Hype gap0
- Incentives30
- Confidence62
Norges Bank Investment Management, a minority owner in more than 7,000 listed companies, says the race for listings is weakening investor protections. It says it will step up engagement on the issue, so exchanges that relax rules to win listings, and the companies that adopt those rules, face more pressure from a large minority holder.
Reality
- Evidence40
- Adoption
- Insufficient
- Hype gap+15
- Incentives65
- Confidence55
CARB heard broad support for GHG Protocol alignment and a phased Scope 3 start across six SB 253 listening sessions in August and September. Its caveat that some voluntary protocol elements may need to become mandatory sets the limit on how far the rules can bend.
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap+5
- Incentives
- Insufficient
- Confidence55
Delaware's Court of Chancery barred Verisk from exiting its $2.35bn AccuLynx deal because its own willful conduct primarily caused the FTC delay. That conduct was an ordinary decision to end talks with a rival, so the clauses governing signing to closing are now a board matter.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+15
- Incentives50
- Confidence58
S&P 500 boards appointed 364 new independent directors in 2026, the fewest since 2016, and 37% of them were CEOs, the highest share since 2012. Chief executives gained seats even as the class shrank, so functional executives seeking a first board are competing for fewer openings.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+5
- Incentives
- Insufficient
- Confidence60
Cravath partners say divisive mergers under Texas and Delaware law let companies split business lines without assigning each contract one by one. Creditors keep their fraudulent-transfer claims, so the plan of division sets each new entity's exposure.
Reality
- Evidence58
- Adoption
- Insufficient
- Hype gap+10
- Incentives35
- Confidence60
SEC rules proposed on September 16 would let issuers with a Form 10-K on EDGAR stop preparing and mailing a separate annual report with the proxy. Dropping a 20-business-day delivery deadline would also loosen merger calendars once final rules are adopted.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap0
- Incentives35
- Confidence58
Public companies and their trade groups supplied over 40% of the $2.5 billion raised by party 527 committees in 25 years, a Wharton-CPA primer finds. Its authors want boards to govern that giving on purpose before possible post-midterm investigations.
Reality
- Evidence35
- Adoption
- Insufficient
- Hype gap+20
- Incentives70
- Confidence40
Teneo found 87% of S&P 500 companies that issued sustainability reports last year did so again in 2026, even as demographic disclosure fell to 64% from 92%. The reporting that survives is quieter and built more closely around EU and ISSB frameworks, and boards will plan their 2027 reports from that version.
Reality
- Evidence55
- Adoption60
- Hype gap+15
- Incentives40
- Confidence55
Pay Governance found just 19% of S&P 500 pay plans opposed by both ISS and Glass Lewis failed in 2026, down from 50% in 2022. The weight now sits with the five largest asset managers, whose own voting frameworks backed pay 95.6% of the time.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+12
- Incentives40
- Confidence60
SEC exemptions issued September 17 let permissioned AMM pools trade tokenized US stocks for five years without exchange, ATS or dealer registration. The order is interim and open to comment, so teams building now are designing to AMM-only, OFAC-screened terms the SEC can still rewrite.
Reality
- Evidence60
- Adoption
- Insufficient
- Hype gap+5
- Incentives
- Insufficient
- Confidence58
The Court of Chancery found that a pleaded record of leaked valuations and a recused CEO who still received committee materials put Delaware's 2025 cleansing statute out of reach at the pleading stage. Sidley's partners say process and disclosure now decide it.
Reality
- Evidence72
- Adoption
- Insufficient
- Hype gap+10
- Incentives65
- Confidence58
Russell Reynolds mapped 196 European exits and found that a single chief executive change tracks almost no difference in average hold period, while the delayed and repeated ones are where the risk sits.
Reality
- Evidence55
- Adoption62
- Hype gap+18
- Incentives76
- Confidence56
A Compensia review of Form 10-K filings from January 2024 through June 2026 found 118 companies running restatement-triggered recovery analyses, and 19 of them disclosed an actual clawback of executive pay.
Reality
- Evidence62
- Adoption58
- Hype gap+5
- Incentives60
- Confidence55
Sidley Austin counts 28 contingent value rights across 59 announced public life sciences deals last year, a record share, with the contingent piece averaging 39% of the upfront price. The first half of 2026 ran near half that rate.
Reality
- Evidence62
- Adoption80
- Hype gap+18
- Incentives68
- Confidence64
Three Delaware Chancery opinions, all from one vice chancellor, and the 2025 amendments to Section 144 sit behind a Mayer Brown memorandum on what a designated director owes the company and what the appointing fund risks.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+18
- Incentives62
- Confidence55
Average pay at risk for S&P 1500 chief executives reached 78% in 2023, up from 46% in 1993, while target pay converged on the industry median. Compensation Actually Paid is the first figure that lets a committee check whether that design pays for performance.
Reality
- Evidence52
- Adoption72
- Hype gap+20
- Incentives62
- Confidence48
Frederick Alexander is telling executives and investors to write a private substitute for the shareholder proposal rule now, while the federal version still exists to trade against.
Reality
- Evidence42
- Adoption
- Insufficient
- Hype gap+20
- Incentives62
- Confidence48
A memorandum from the pay consultancy FW Cook argues that the shareholder conversations able to influence next year's incentive design happen months before the proxy is filed, and that stewardship teams can tell when a company has left it late.
Reality
- Evidence34
- Adoption
- Insufficient
- Hype gap+14
- Incentives68
- Confidence54
Earlier coverage
- Personal security spread to a majority of S&P 500 CEOs within a single year
Leadership · September 15, 2026 · 1 publisher
- A Goodwin memo puts crypto treasury companies on the shareholder activist target list
Leadership · September 14, 2026 · 1 publisher
- The SEC's Form 10-S would hand boards a reporting cadence decision they remake every year
Leadership · September 13, 2026 · 1 publisher
- Atkins rejects the idea that AI-readable filings justify wider disclosure mandates
Leadership · September 12, 2026 · 1 publisher
- The SEC would let a crypto asset leave securities status once its issuer certifies development has ceased
Leadership · September 11, 2026 · 1 publisher
- Twenty years of French buyout data link pay compression to workforce turnover after buyouts
Leadership · September 10, 2026 · 1 publisher
- Investor appetite for ESG data pushes competing raters to cover the same ground
Leadership · September 9, 2026 · 1 publisher
- SEC moves to rescind the pay-to-play rule behind advisers' blanket contribution bans
Leadership · September 9, 2026 · 1 publisher
- DOJ retires the 1987 letter that underwrote ISS's antitrust comfort
Leadership · September 8, 2026 · 1 publisher
- Researchers quantify the board-strategy gap Elliott alleged at Norwegian Cruise Line
Leadership · September 8, 2026 · 1 publisher
- SEC tells 13G filers they can take the issuer's call without losing passive status
Leadership · September 7, 2026 · 1 publisher
- 2026 proxy season shows mixed shifts: independent chair and GHG support diverge from volume, while written consent proposals see both rise
Leadership · September 4, 2026 · 1 publisher
- Founder-led boards now price litigation predictability against a tailored charter
Leadership · September 2, 2026 · 1 publisher
- Shareholders approved thirteen of 334 proposals this proxy season
Leadership · September 1, 2026 · 1 publisher
- A 51-deal review finds almost nothing material in supplemental merger disclosures
Leadership · September 1, 2026 · 1 publisher
- 115 signatories contest the SEC's plan to end internal-control audits below $2bn of float
Leadership · August 29, 2026 · 1 publisher
- Boards absorbed committee work into the standard director retainer
Leadership · August 28, 2026 · 1 publisher
- The 95 percent habit: comp committees are being told to stop defaulting to PSUs
Leadership · August 26, 2026 · 1 publisher
- Boeing's directors were shielded by their own paper trail, not by a good outcome
Leadership · August 26, 2026 · 1 publisher
- Board refreshment stalls at 364 new S&P 500 directors, and CEOs took more of them
Leadership · August 24, 2026 · 1 publisher
- Three In Four Plan Agentic AI, One In Five Can Govern It
Leadership · August 21, 2026 · 1 publisher