Preparing for Proxy Season 2025

Preparing for Proxy Season 2025, an Equilar Publication, analyzes the annual proxy statements and CD&As of companies in the Equilar 100—the top 100 U.S.-listed companies by revenue—over the last five fiscal years. The publication highlights proxy design trends and analyzes issues related to shareholder proposals, ESG and more. DFIN provides expert commentary and actionable guidance to help companies optimize their proxy design while navigating the most pressing governance issues to watch in 2025.

About the Report

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Key Findings

• The number of Equilar 500 shareholder proposals focused on social and environmental issues increased by over 127% since 2020
• ESG proxy disclosures at Equilar 100 companies jumped 64.4% since 2020
• In 2024, 95% of Equilar 100 companies addressed their shareholder engagement efforts
• The percentage of women appointed to new Russell 3000 directorships has declined by 16.1% since 2020