Too Another proxy season has wrapped, but the signals it sent are just beginning to settle in. From shifting shareholder priorities to increasing demand for board transparency and improved communication design, the 2025 season offers valuable insights. Whether your company just filed or is preparing for next year, here’s what this season revealed and what boards and reporting teams should be thinking about now.
ESG proposals were down, but not out
Support dropped in 2025, but select ESG topics, particularly those linked to materiality and accountability, still earned meaningful votes. Avoiding ESG entirely could send the wrong message to long-term investors. According to recent analysis from Proxy Monitor, proposals linked to political spending, climate oversight, and diversity remained a significant part of the dialogue. Even if average support dipped, the focus did not disappear.
What to Do Now: Identify one or two ESG themes that align with your strategy, and plan to address them transparently with data and narrative in your next proxy.
Governance and board composition are still hot topics
Stakeholders expect greater visibility into director qualifications, diversity, and tenure. Boards need to demonstrate they are built for today’s risks and tomorrow’s growth. As outlined in the ISS Governance 2024 Insights Library, governance disclosures that clearly show board evolution and alignment with company strategy are gaining traction.
What to Do Now: Use your proxy to highlight board skills and evolution. Consider a visual skills matrix or annotated bios to make the case clear.
Say-on-pay votes revealed growing scrutiny
Support for executive compensation dipped as investors focused more on long-term value alignment and ESG-linked performance.
What to Do Now: Rethink how you tell your comp story. Simplify your summary page and clearly tie compensation outcomes to measurable impact.
Design and readability made a difference
Proxies that engaged readers with thoughtful layout, visual aids, and clear messaging stood out. It is not just what you disclose, but how you present it.
Start Here: Begin planning with design in mind. Partner early with your creative team to ensure your layout reinforces clarity and trust.
Planning ahead is no longer optional
The companies that avoided chaos this season started planning months in advance. Many began preparing before Q4 of the previous year.
Start Here: Schedule a cross-functional planning session this summer to identify what worked and what didn’t in your 2025 proxy process.
Proxy season is a mirror that reflects what matters to stakeholders and how well your governance story is being told. The companies that use this feedback to refine their message, process, and design are the ones that will gain trust and votes in 2026.
Interested in improving your next proxy statement?
Connect with our team to see how Curran & Connors helps public companies design and communicate governance clearly and credibly.