Annual Corporate Governance & Executive Compensation Survey

2018 Corporate Governance Survey

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SURVEY METHODOLOGY Shearman & Sterling LLP Survey Methodology | 105 SURVEY METHODOLOGY We reviewed the corporate governance and compensation practices of 100 of the largest U.S. public, non-controlled companies that have equity securities listed on the NYSE or Nasdaq. These companies were selected based on a combination of their latest annual revenues and market capitalizations, and are referred to as the "Top 100 Companies." Generally, we derived the data in this Survey from the annual proxy statements, compensation committee charters and corporate governance guidelines posted on the companies' websites and available as of June 1, 2018 (except where otherwise noted). Wendy Adelman Elizabeth Akinyemi Nicole Bennewies Melisa Brower Garland Chan Jane Collins Thomas Dicsi Thomas Eikenbrod Margaret Eleazar-Smith Larry Foote Jordan Franks Jai Garg Svetlana Grigoryeva Jake Glazeski Ian Hua Koye Idowu Rohan Jain Karen Jin Jun Kim SHEARMAN & STERLING WOULD LIKE TO ACKNOWLEDGE THE FOLLOWING INDIVIDUALS FOR THEIR CONTRIBUTIONS TO THIS SURVEY: Sonia Khandekar Natalie Ko Hyunsok Lee Jingjing Liang Janie Martin Jason Monroe Alex Muller Nauka Patel Nakia Prileau Polina Pristupa Jessica Riley Alessandra Rosales Ashley Shan Jae Hyong Shim Edia Uko Abir Varma Matthew Weston Chris White Kathryn White INDUSTRIES OF SURVEYED COMPANIES: SURVEYED DOCUMENTS: 7 15 18 13 28 19 Energy Financial Services Healthcare Industrials Retail/Consumer Products TMT 100 U.S. public companies surveyed Annual proxy statements Company charters and by-laws Board committee charters Corporate governance guidelines Corporate websites

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