Weekly Roundup: September 17

This roundup contains a collection of the posts published on the Forum during the week of September 17–23, 2021.

Why CEO Option Compensation Can be a Bad Option for Shareholders: Evidence from Major Customer Relationships

Posted by Claire Liu (University of Sydney), Ronald Masulis (University of New South Wales), and Jared Stanfield (University of Oklahoma), on Friday, September 17, 2021

Tags: Equity-based compensation, Executive Compensation, Firm performance, Risk, Shocks, Stakeholders, Stock options, Tariffs

Vermont’s Fossil Fuel Suit Underscores Climate-Change Pressures Faced by U.S. Companies

Posted by John F. Savarese, David M. Silk, and Jeffrey M. Wintner, Wachtell, Lipton, Rosen & Katz, on Friday, September 17, 2021

Tags: Climate change, Consumer protection, Disclosure, Environmental disclosure, ESG, Securities litigation, State law, Sustainability, Vermont

ESG in 2021 So Far: An Update

Posted by Marc S. Gerber, Greg Norman and Simon Toms, Skadden, Arps, Slate, Meagher & Flom LLP, on Saturday, September 18, 2021

Tags: Board composition, Boards of Directors, Climate change, Cybersecurity, Diversity, Environmental disclosure, ESG, EU, Europe, Executive Compensation, Institutional Investors, International governance, Shareholder activism, Sustainability, UK

Board Practices Quarterly: The Outspoken Corporation

Posted by Natalie Cooper (Deloitte LLP), Robert Lamm (Deloitte LLP), and Randi Morrison (Society for Corporate Governance), on Sunday, September 19, 2021

Tags: Boards of Directors, Engagement, ESG, Reputation, Stakeholders, Surveys

How the Best Boards Approach CEO Succession Planning

Posted by Maria Castañón Moats and Paul DeNicola, PricewaterhouseCoopers LLP, on Monday, September 20, 2021

Tags: Boards of Directors, Diversity, Executive turnover, Human capital, Management, Succession

Investors’ Response to the #MeToo Movement: Does Corporate Culture Matter?

Posted by Mary Billings, April Klein, and Yanting Shi (NYU), on Monday, September 20, 2021

Tags: #MeToo, Board composition, Boards of Directors, Corporate culture, Diversity, ESG, Institutional Investors, Misconduct, Reputation

The Activism Vulnerability Report Q2 2021

Posted by Jason Frankl and Brian Kusher, FTI Consulting, on Monday, September 20, 2021

Tags: Board composition, Boards of Directors, Diversity, ESG, Institutional Investors, Mergers & acquisitions, Proxy season, Shareholder activism, Shareholder voting

Revisiting Whistleblower Response Procedures

Posted by John F. Savarese, Ralph Levene, and Wayne M. Carlin, Wachtell, Lipton, Rosen & Katz, on Tuesday, September 21, 2021

Tags: Audits, Internal control, Misconduct, SEC enforcement, Securities enforcement, Securities regulation, Whistleblowers

SPACs: Insider IPOs

Posted by Usha R. Rodrigues (University of Georgia) and Michael Stegemoller (Baylor University), on Tuesday, September 21, 2021

Tags: Capital formation, Empty voting, Hedge funds, Institutional Investors, IPOs, Liquidity, Mergers & acquisitions, Shareholder voting, SPACs, Special purpose vehicles

Navigating ESG Disclosure Regulation for US Public Companies

Posted by Thomas Singer, The Conference Board, Inc., on Tuesday, September 21, 2021

Tags: Climate change, Disclosure, Engagement, Environmental disclosure, ESG, Materiality, Stakeholders, Sustainability

SEC Cyber Enforcement Actions: Lessons for Private Fund Managers

Posted by Jason Daniel, Jenny Walters and Natasha Kohne, Akin Gump Strauss Hauer & Feld LLP, on Wednesday, September 22, 2021

Tags: Cybersecurity, Private funds, Risk, SEC, SEC enforcement, Securities enforcement, Securities regulation

The Effects of Going Public on Firm Performance and Commercialization Strategy: Evidence from International IPOs

Posted by Gordon M. Phillips (Dartmouth), on Wednesday, September 22, 2021

Tags: Capital formation, International governance, IPOs, Profitability, Public firms

How Private Equity-Backed Companies Can Move the Needle on Sustainability

Posted by Mark Adams, Joy Tan, and Emily Taylor, Russell Reynolds Associates, on Wednesday, September 22, 2021

Tags: Climate change, ESG, Human capital, Institutional Investors, Management, Private equity, Sustainability

Delaware Supreme Court Eliminates “Dual-Natured” Direct and Derivative Claim

Posted by William Savitt and Ryan A. McLeod, Wachtell, Lipton, Rosen & Katz, on Thursday, September 23, 2021

Tags: Controlling shareholders, Delaware cases, Delaware law, Derivative suits, Minority shareholders, Securities litigation, Shareholder suits

The General Counsel View of ESG Risk

Posted by Michael J. Callahan, David F. Larcker, and Brian Tayan (Stanford University), on Thursday, September 23, 2021

Tags: Accountability, Environmental disclosure, ESG, General counsel, Inside counsel, Risk, Risk oversight

The Role of the CEO in Mergers and Acquisitions

Posted by PJ Neal, Russell Reynolds Associates, on Thursday, September 23, 2021

Tags: Boards of Directors, Corporate culture, Human capital, Management, Managerial style, Mergers & acquisitions

Weekly Roundup: September 17–23, 2021