Prudential has a history of being one of the best when it comes to proxy disclosure. No surprise since the wonderful Peggy Foran oversees that company’s disclosure.
One of the latest disclosure innovations from Pru is this director renominations discussion on page 17 of the company’s ‘24 proxy. The discussion includes a nice table listing six categories of considerations that the Corporate Governance & Business Ethics Committee evaluates. Pru is not alone with a “renomination table” as other companies have done that in recent years. Here it is:
But the bigger innovation from Pru is the “Director Commitments Oversight” section that follows the director renominations discussion. There has been a bit of a shift away from bright line overboarding policies as some investors instead are asking for a more qualitative review of the other commitments that directors have. Vanguard and other institutions have been honing in on director time commitments in their guidelines.
Here is that section from Pru’s proxy:
