Issue link: https://digital.shearman.com/i/1512772
Shearman & Sterling LLP 79 | Director Recruitment Board's approach to identifying diverse director candidates 24 23 43 40 Instruct a search firm to identify diverse candidates Internally generated list through company's diversity committee No specific details on how diverse candidates are identified 24 6 of the Top 100 Companies have added one or more female directors since its prior proxy was filed of the Top 100 Companies have headquarters/principal executive offices in California companies have added one or more female directors since its prior proxy was filed Of those 24 companies: California Corporations Code Section 301.3 required publicly traded corporations headquartered in California to have one or more female directors, depending on board size. The law was overturned in May 2022 and is currently under appeal. Data Director Recruitment 5 5 of the Top 100 Companies committed to a percentage or number of diverse representation on the board. Board commitments to always consider diverse candidates in connection with identifying new director nominees (Rooney rule) Board commits to always consider diverse candidates Board commits to seeking diverse candidates for consideration No specific commitment 53 34 13 Of these companies, 3 committed to 30% gender diversity, 1 committed to 15% increase in women and underrepresented minorities in leadership (including directors) and 1 committed to 1/3 representation by people from underrepresented groups in leadership (including directors).