January 2012 Think like a reader, show aligned interests in your next Proxy Statement
Your Proxy Statement, at the heart of the Shareholder Meeting process, is a unique opportunity to communicate performance, and to show how your corporation's governance and executive compensation programs are aligned with shareholder interests.
Last year's Proxy season saw companies add an Executive Summary of their CD&A or the entire document, as well as graphics and charts to communicate complex data and break up dense sections of text. This is more than just a courtesy for readers; clear summaries and well chosen graphics can convince and mobilise voting shareholders by attracting attentionto broader performance metrics than TSR.
Our 'Thought Partner' advisory service shows how your Proxy Statement can improve shareholder education and understanding of how governance and compensation are aligned with their interests. Our personalized audits and recommendations cover:
- Summarized content: Executive Summaries of your Proxy Statement, CD&A or Governance.
- How to influence reader behavior: attract your readers to the pages and sections of the Proxy Statement which you want them to read.
- Compensation: present how your pay progam is aligned with shareholder objectives.
- Governance: how to present Directors' roles, skills and expertise in a manner which inspires confidence.
- Dialogue: how your Proxy can promote year-round dialogue with shareholders.
- Graphics: present clear graphics to enhance reader understanding.
Contact us for a personalized audit, or a copy of our 2011-2012 'Proxy Statement Guidelines'.
December 2011 Show how you are creating shareholder value with your Proxy Statement
After the recent ISS Policy Call, corporations are getting down to preparing for the 2012 Proxy Season, with a focus on showing how they are creating shareholder value.
Proxy Statements can contribute to an improved relationship between corporations and their voting shareholders. In a climate of misunderstanding, activism and mistrust, Proxy Statements should make it very clear how governance and executive pay programs are aligned with shareholder interests.
This isn't always the case; legacy Proxy Statements are dense and difficult to read, do a poor job of explaining Board qualifications and selection processes, and often don't include any useful performance metrics to give context to pay packages.
At Labrador, we offer advisory support to help our clients prepare, file and print effective Proxy Statements. We monitor trends, benchmark, meet Proxy Advisors and Voting Committees to propose personalized recommendations which engage readers and avoid shareholder misunderstanding. Our teams advise on:
- A Proxy Summary to resume 'need to knows' and performance
- Effective content for an Executive Summary of your CD&A
- How to best present Board qualifications
- Graphics to highlight how you are creating shareholder value
- Elements to reinforce your relationship with shareholders
Contact us for more information!
November 29, 2011President Laurent Rouyrès rings the Euronext opening bell
November 2011 Labrador publishes 2011-2012 Proxy Statement Guidelines
'How to Create Useful Disclosure'
Proxy Statements are no longer a simple exercise in compliance for a straight-forward annual meeting. In recent years, Notice & Access has reduced retail shareholder participation, SEC Rule 452 has eliminated favorable blocks of broker votes and the annual meeting has been further complicated by the Dodd-Frank Act.
Recent legislation and recurring "Say on Pay" votes require that corporations redouble their efforts to engage with investors.
Today, Proxy Statements are dense governance documents which discourage readers. As a result, when IROs or Solicitors call on investors to drum up positive votes, all too often fund managers admit that they have not read the Proxy Statement, or that they have had difficulty understanding what is being said.
A clear, easy to read Proxy Statement goes beyond compliance to create investor outreach with tangible benefits. When corporations make their SEC disclosure compelling and understandable, investors reach the positive conclusion that management, knowing and understanding its business, is in turn seeking to be understood.
Our guidelines show you how to create a Proxy Statement which:
- Contributes to support for your governance and pay program;
- Can overcome Dodd-Frank risk;
- Is simple to navigate and understand for your readers;
- Is less expensive to produce;
- Enhances the value of your corporation.
Contact us for your copy!
October 2011 What graphics in my Proxy Statement?
When voting shareholders read your Proxy Statement they should see clearly how your governance functions, and how your executive pay program is aligned with shareholder interests.
Legacy Proxy Statements are dense, and long narratives conspire to make it even more difficult for even an expert reader to understand. Graphics are a great tool to present performance and data in a manner which is clear and easy to understand. Consider:
Graphics to highlight management successes
- Revenue growth over time
- Growth in EPS
- Dividends over time
- Share performance over time
Graphics to give context to management pay
- Short term vs. long term compensation mix
- Pay vs. EPS
- Pay percentile vs. peer group
September 2011 Improve your Proxy, simple first steps
Your Proxy Statement can cost less and have a positive effect on shareholder participation, especially if you follow these basic principles to engage readers and inspire confidence. Better layout makes your document less expensive to produce, more likely to be read and easier to navigate. Better content and language ensure that when readers find what they are looking for, they understand it.
Download the article in PDF format
September 2011 Article on US and European Regulatory Disclosure
Laurent Rouyrès, CEO of Labrador, publishes an article discussing the transparency of the disclosure published by US and European corporations.
Download the article in PDF format
August 2011 What makes Labrador different
You should be in control of your SEC reporting process, and not the other way around. With Labrador eXchange, our proprietary online SEC Publishing Platform, reporting teams enjoy 'one version' collaborative document management in an online workspace, accelerating the corrections process and ensuring accuracy.
Download the article in PDF format
August 2011 Labrador opens a third US Office in Los Angeles
Since 1992, Labrador has been showing corporations how to modernize and improve disclosure, save time and reduce costs.
To complement the success of our Atlanta and New York offices, we are delighted to open a Los Angeles office to serve our West Coast clients.
Our Los Angeles team would be happy to show how your SEC disclosure can be more than just compliance if you make use of the latest thinking and technology, all based on rigorous research and delivered by subject experts.
Contact us for more information!
July 2011 Labrador Security Measures
At Labrador, complete protection of our clients' confidential information underpins our production processes, whilst our online tools make it easy to communicate with production team members and to access documents.
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June 2011 XBRL Pain Points, and how to overcome them
For too long, SEC disclosure has been frustrating experience for all involved, and XBRL has made things even worse. Legacy processes make the production of SEC filings inefficient and fraught with risk. Labrador offers modern, common-sense solutions to make your SEC disclosure less painful for your corporation, and more useful for your readers.
Download the article in PDF format
May 2011 About Labrador
We enable Corporations to eliminate risk, and to reduce frustration and cost in the production of their regulatory compliance. Our modern, easy to use tools simplify the preparation of EDGAR and XBRL filings, whilst our proprietary, SEC approved layouts reduce pagination and please analysts and investors.
Download the article in PDF format
January 5, 2011 Labrador Presents Benchmark Proxy Study at NIRI Atlanta
On December 16, 2010, Labrador Regulated Information Transparency, Inc. (Labrador) presented its benchmark study of U.S. issuer proxy statements to members and guests of the National Investor Relations Institute (NIRI) Atlanta Chapter.
