In this new memo: How to Avoid Bungling Off-Cycle Engagements With Stockholders, Cleary addresses the who, what, when, where, how & why of off-cycle (i.e., non-proxy season) shareholder engagement programs with a plethora of instructive guidelines and tips that may benefit both companies new to the off-season engagement scene, as well as those merely seeking to review and potentially improve upon current practices. Importantly, the memo observes that - while potentially hugely beneficial, "a poor off-cycle meeting can be more detrimental than no meeting."
Among the thought-worthy suggestions are to consider engaging the company's smaller (below the top 20) institutional investors - who tend to be among the most vocal and active, and publicly disclosing even non-material information shared in the engagement meetings, which may have attendant benefits in the form of institutional investor, proxy advisor and other stakeholder support.