Reasons - and examples - for crafting usable proxy statements

1. “Take Two”
Broc Romanek
Editor, TheCorporateCounsel.net
Episode 5: “Usable Disclosure”

2. Why Bother?
 Tell your story better to earn more votes
 Tell your story better to others
(employees, proxy advisors, etc.)
 Dramatically reduce length of your proxy
statement
 Pride in what you do

3. Telling the Story
 Annual report wrap to address issues up
front
 Use formatting/graphics to clearly make
your points
 Weatherford: “Audit Committee Oversight
& Engagement” section
 Chesapeake Energy: Revised CD&A

4. The Results
 Weatherford reduced proxy length
from 63 to 48 pages (25% drop)
 Weatherford reduced comp
disclosure length from 33 to 20
pages (40% drop)
 Weatherford‟s „13 vote far more
favorable than „12 (eg. 40% SOP
boost)