Fewer Campaigns, but Much to Observe from the 2025 Proxy Season

While the number of overall shareholder activism campaigns cooled in the 2025 proxy season compared to years past, the season has been marked by its fair share of fireworks and headlines, as well as unique events and disruptions. The season has also provided many takeaways for companies as we look ahead to the 2026 proxy season. Read here as Sidley’s Kai Liekefett, Derek Zaba, and Leonard Wood discuss the lessons that will carry over into the 2026 proxy season.