HEDGING AND
PLEDGING POLICIES
Shearman & Sterling LLP Hedging and Pledging Policies | 103
WHAT ARE THE TERMS OF THE PLEDGING POLICY?*
*Five of the Top 100 Companies provide for an outright prohibition other than in limited circumstances.
WHAT ARE THE TERMS OF THE HEDGING POLICY?
HEDGING AND
PLEDGING POLICIES
82 93
of the Top 100 Companies
maintain pledging policies
of the Top 100 Companies
maintain hedging policies
Require Approval
Outright Prohibition
All 93 of the Top 100 Companies Prohibit Hedging Outright
10
67
93
