“All printed proxy statements shall be in roman type at least as large and as legible as 10-point modern type”

typewriter.

Amazingly, that is one of the many retentive guidelines the SEC published regarding the production of your proxy document in 2017. Although, judging by the work we produce for our clients, holding to the intent and spirit of the font guideline is acceptable… aka: yes, you can use Arial and Helvetica now, too. 

That’s just one of the details companies must work through annually. Our SEC Reporting Rules Guidebooks has 325 pages JUST on proxy materials. Request your free books HERE. (These are hardcopy books that we ship to you)

Layout guidelines, Rule 14a-5, include:

(a) The information included in the proxy statement shall 
be clearly presented and the statements made shall be 
divided into groups according to subject matter and the 
various groups of statements shall be preceded by 
appropriate headings. The order of items and sub-items  
in the schedule need not be followed. 

Where practicable and appropriate, the information shall 
be presented in tabular form. All amounts shall be 
stated in figures. Information required by more than one 
applicable item need not be repeated. No statement need  
be made in response to any item or sub-item which is 
inapplicable.

(d)(1) All printed proxy statements shall be in roman 
type at least as large and as legible as 10-point modern 
type, except that to the extent necessary for convenient 
presentation financial statements and other tabular data, 
but not the notes thereto, may be in roman type at least 
as large and as legible as 8-point modern type. All such 
type shall be leaded at least 2 points.

(2) Where a proxy statement is delivered through an 
electronic medium, issuers may satisfy legibility 
requirements applicable to printed documents, such as 
type size and font, by presenting all required information 
in a format readily communicated to investors.

Beyond font considerations, companies are creating proxy documents that boldly cross over from mere SEC compliance into true shareholder communications. In fact, in EY’s most recent survey on corporate disclosures, 41% of issuers reported they were reducing flat text narrative in favor of graphs, charts and infographics.

All of the discussions and recommendation we are now having within the planning stage with our clients have started with our 2017 Proxy Design Templates guide.

700_email-banner-proxy

 

As you’ll learn, we’ve streamlined many of visual decisions companies need to address – allowing investor relations teams, corporate secretaries and counsel to focus on the financial tables’ content and not the table’s header color.

Corporate brand and shareholder engagement, once the mantle of the annual report, now reside in the proxy.  

One response to ““All printed proxy statements shall be in roman type at least as large and as legible as 10-point modern type”

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