We are pleased to share our 2024 Silicon Valley 150 Corporate Governance Report, which reviews the corporate governance practices and disclosures of the Valley’s largest public companies. The report includes information regarding board matters, officer matters, defensive measures, proxy statement disclosures, environmental, social, and governance (ESG) and sustainability reporting, stockholder proposals, activism, and executive compensation of the SV150 companies. In addition, with companies now required to file their Dodd-Frank-compliant clawback policies as an exhibit to their annual reports, we examine for the first time the clawback policies of SV 150 companies, both in response to the rules and in addition to them.
Among the key takeaways from this year’s report:
- The presence of women in the boardroom and executive suites has remained on par with previous years (33.9% of directors and 21.0% of executive officers in 2024), and ethnically diverse directors constitute on average 28-30% of all directors this year, similar to our findings last year
- Virtual annual meetings are now the norm for most companies (89%)
- Over three-quarters of companies include disclosure in their proxy statements regarding ESG/sustainability (80.7%) and, to a slightly lesser extent, include disclosure regarding human capital (74.7%)
Other key takeaways from this report are set forth in the Conclusion section.
The report uses the Lonergan SV150, which ranks the top 150 public companies with headquarters in the Silicon Valley by annual sales. For more information on the methodology used to prepare the Lonergan SV150, please visit https://lonerganpartners.com/assets/pdfsdownloads/2024-LSV-150-Company-Ranking.pdf.
