In the wake of greater shareholder engagement resulting from say-on-pay, the Compensation Discussion & Analysis (CD&A) section of corporate proxy statements has become an important tool for reaching out to shareholders on pay matters.
In the 2014 proxy season, companies enhanced their disclosures in CD&As to provide information about their compensation practices and decisions that shareholders requested, said Michael Hermsen, a partner at Mayer Brown LLP in Chicago.
“More companies are using their CD&A as an opportunity to reach out to all shareholders and tell their compensation story the way they want to tell the story, rather than only complying ...
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