The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Mon, 08 Jun 2026 16:11:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Proxy Voting Outlook: Spotlight Turns to Governance in Transition Year – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Proxy Voting Outlook: Spotlight Turns to Governance in Transition Year https://corpgov.law.harvard.edu/2026/03/25/proxy-voting-outlook-spotlight-turns-to-governance-in-transition-year/?utm_source=rss&utm_medium=rss&utm_campaign=proxy-voting-outlook-spotlight-turns-to-governance-in-transition-year https://corpgov.law.harvard.edu/2026/03/25/proxy-voting-outlook-spotlight-turns-to-governance-in-transition-year/#respond Wed, 25 Mar 2026 11:32:03 +0000 https://corpgov.law.harvard.edu/?p=179787?d=20260324170122EDT Posted by Bob Herr, Landon Shea, and Cole Moore, AllianceBernstein, on Wednesday, March 25, 2026
Editor's Note:

Bob Herr is a Senior Vice President and Director of Corporate Governance, Landon Shea is an Investment Stewardship Associate, and Cole Moore is an Investment Stewardship Analyst and Engagement Lead at AllianceBernstein. This post is based on their AllianceBernstein memorandum.

What you need to know

The agenda is being reset for US shareholder meetings in 2026. Regulatory shifts have led to a steep decline in overall shareholder proposals while governance issues are becoming the biggest battleground. As companies gain new power to block shareholder proposals, investors may turn to other routes to make their voices heard. Research-driven independence and a focus on governance fundamentals can guide investors through a changing environment.

–36%
decline in total shareholder proposals for S&P 1500 companies in 2025
41%
rate of support for shareholder proposals on governance issues in 2025
14%
rate of support for shareholder proposals on environmental and social issues in 2025
| Director of Corporate Governance

Change is in the air as the 2026 US proxy voting season begins. Regulatory shifts and new voting dynamics will challenge investment firms to remain principled in their approach to stewardship.

The proxy pendulum is swinging. After several years in which environmental and social issues gained prominence, governance matters such as director elections and executive compensation have reentered the spotlight.

This year, ballots will be cast amid significant regulatory and legal moves. Proxy advisory firms are under intense scrutiny while state and federal laws and enforcement actions have added layers of complexity to governance decision making. We believe investment firms should enter proxy season with eyes wide open: aware of what’s changing yet guided by a materiality-based framework to vote independently with conviction.

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