For us at Gryphon Advisors and FrontLine Advisors, 2019 marks a momentous leap forward. Since the commencement of our operations earlier this year, we have been fortunate enough to have worked alongside many of the same partners who have supported us in the past. While a lot has changed for us, our mandate has not. We remain committed to generating value for all of our clients for years to come. This summer, we spent a significant amount of time collecting and analyzing data through a new approach. In this report, we have distilled what we believe to be the most interesting nuggets occurring this past proxy season.
• To date, 2019 has been a landmark year for activism, with 30 campaigns recorded thus far
which is four more than all of 2018.
• Transactional activism has kicked into high gear, representing 37% of all activism campaigns.
• Seven months into the year, there had only been a single formal hostile bid launched, compared
to five in the year prior.
• Average and median Say-on-Pay support levels have declined year-over-year but adoption rate
continues to increase with 22 new adopters.
• The uptick in environmental and social shareholder proposals means that they now represent
approximately 45% of all shareholder proposals submitted at Canadian public companies.
To read the full report.
Thank you to Gryphon Advisors and FrontLine Advisors for providing this report to our community, Darren Stewart, President