December 23, 2020
Golden Parachutes: BlackRock Refines Voting Guideline
– Lynn Jokela
A couple of weeks ago, it was a bit of a surprise when BlackRock released its 2021 Stewardship Expectations and updated proxy voting guidelines, which are effective January 2021. There are quite a few updates in BlackRock’s guidelines and this PJT Camberview blog summarizes key takeaways from BlackRock’s updates to its voting guidelines. Yesterday I blogged about some of the governance-related nuggets found in the updates on our Proxy Season Blog – here’s a refinement relating to compensation:
– Removal of language stating that BlackRock will normally support advisory proposals on golden parachutes, indicating that it may be less supportive of such proposals