Survey Results: Proxy Drafting Responsibilities & Time Consumed


1. The following takes the lead in drafting the proxy statement at our company (excluding the executive compensation disclosures): (Total responses: n=102)
(select all that apply, may total more than 100%)
n=65 (63.73%) In-house Securities Attorney
n=3 (2.94%) In-house Human Resource Staff
n=3 (2.94%) In-house Accounting Staff
n=8 (7.84%) General Counsel
n=21 (20.59%) Corporate Secretary/Assistant Corporate Secretary
n=7 (6.86%) Outside Counsel
n=2 (1.96%) Outside Consultant
n=2 (1.96%) Other

2. The following takes the lead in drafting the CD&A/other executive compensation disclosures at our company: (Total responses: n=83)
(select all that apply, may total more than 100%)
n=49 (59.04%) In-house Securities Attorney
n=27 (32.53%) In-house Human Resource Staff
n=4 (4.82%) In-house Accounting Staff, including CFO
n=10 (12.05%) General Counsel
n=16 (19.28%) Corporate Secretary/Assistant Corporate Secretary
n=9 (10.84%) Outside Counsel
n=4 (4.82%) Outside Consultant
n=1 (1.20%) Other

3. The following provides significant assistance in drafting the CD&A/other executive compensation disclosures: (Total responses: n=78)
(select all that apply, may total more than 100%)
n=29 (37.18%) In-house Securities Attorney
n=43 (55.13%) In-house Human Resource Staff
n=22 (28.21%) In-house Accounting Staff, including CFO
n=9 (11.54%) General Counsel
n=14 (17.95%) Corporate Secretary/Assistant Corporate Secretary
n=16 (20.51%) Outside Counsel
n=15 (19.23%) Outside Consultant
n=5 (6.41%) Other

4. The following are involved in reviewing and providing comments on the draft CD&A/other executive compensation disclosures: (Total responses: n=81)
(select all that apply, may total more than 100%)
n=37 (45.68%) In-house Securities Attorney
n=57 (70.37%) In-house Human Resource Staff
n=49 (60.49%) In-house Accounting Staff, including CFO
n=47 (58.02%) General Counsel
n=38 (46.91%) Corporate Secretary/Assistant Corporate Secretary
n=63 (77.78%) Outside Counsel
n=48 (59.26%) Outside Consultant
n=12 (14.81%) Other

5. For the lead drafter, the following is the estimated amount of time devoted to drafting proxy disclosures for this year: (Total responses: n=79)
(select only one)
n=21 (26.58%) Less than 100 hours
n=30 (37.97%) 100-200 hours
n=16 (20.25%) 200-300 hours
n=8 (10.13%) 300-500 hours
n=4 (5.06%) Too many hours to even estimate

6. For all those involved in drafting proxy disclosures (including the lead drafter as well as people outside the company), the following is the estimated amount of time devoted to drafting proxy disclosures for this year: (Total responses: n=81)
(select only one)
n=7 (8.64%) Less than 100 hours
n=17 (20.99%) 100-200 hours
n=16 (19.75%) 200-300 hours
n=20 (24.69%) 300-500 hours
n=5 (6.17%) 500-700 hours
n=16 (19.75%) Too many hours to even estimate

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