Perspectives on SEC Reporting and Disclosure Requirements

In early March 2026, the NACD fielded a short survey to explore our members’ perspectives on current SEC reporting and disclosure requirements with a focus on the areas most likely to receive board attention, such as committee reports in the proxy or the MD&A in the 10-K. In addition, the survey explored the perceived value of requirements for reporting companies and investors, and perspectives on the shareholder-proposal process.

There were 189 responses to the anonymous 11-question survey with 83% of responses from independent directors and the balance of responses from non-independent directors, general counsel/corporate secretary, or other corporate executive roles.