Preparing for Proxy Season 2026

Preparing for Proxy Season 2026, an Equilar Publication, analyzes the annual proxy statements and CD&As of companies in the Equilar 100 and Equilar 500—the top 100 and 500 U.S.-listed companies by revenue—as well as the Russell 3000, the largest 3,000 publicly traded companies in the U.S., over the past 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 2026.

Key Findings

• The number of Equilar 500 shareholder proposals decreased by 27.9% since 2024
• Equilar 100 ESG proxy disclosures dropped 18.2% since 2024
• In 2025, 85% of Equilar 100 companies  addressed their shareholder engagement efforts
• The percentage of women appointed to new Russell 3000 directorships declined 41.8% since 2021