January 21, 2016

Nasdaq May Propose “Golden Leash” Disclosure Requirement

According to this Jones Day memo, it’s possible that Nasdaq is planning to propose new rules that would require disclosure of any compensation arrangements with those who serve as dissident director candidates. This would fuel the debate over “golden leash” payments made by activists to their director nominees in a proxy fight. The memo outlines the arguments both for – and against – such payments…