Southern Company’s 2021 proxy statement was named the top company in the country for transparency and disclosure. The designation was made as part of the third annual U.S. Transparency Awards, sponsored by Labrador, a global communications firm specializing in regulated disclosure documents.
The rankings compared the efficacy of corporate disclosure documents among the top S&P 250 companies trading on the New York Stock Exchange or Nasdaq, as determined by market capitalization.
Proxy statements provide investors with the information needed for informed decision-making in advance of a company’s annual shareholders meeting. The U.S. Transparency Awards focus on the criteria of accessibility, accuracy, comparability and availability. Southern Company’s proxy statement stood out by including a shareholder engagement section outlining how many shareholders were contacted, who from the company participated in the discussions and the topics discussed.
“It is a tremendous honor to be recognized once again for excellence in transparency and corporate disclosure,” said Jim Kerr, executive vice president, chief legal officer and chief compliance officer for Southern Company. “We take great pride in engaging with our stakeholders, which includes producing clear and comprehensive disclosures that help investors better understand our company and priorities.”
Southern Company has been recognized as a leader in corporate transparency each year since the inaugural U.S. Transparency Awards in 2019.
“Each year, the Awards criteria evolve and address more issues as the needs of the investor community grow. This year, we added a new award, Most Efficient Plain Language - Proxy Statement, because as disclosure grows in length and complexity to meet stakeholders’ evolving expectations, it also must grow in clarity. Stakeholders are more likely to read, understand, believe, and remember content written in plain language,” says Molly Doran, director of advisory & design services at Labrador. “Because of our extensive set of criteria and comprehensive methodology, the Awards recognize the quality and completeness of information that top U.S. companies make available.”
Labrador, the creator and organizer of the Transparency Awards, is an independent agency specializing in communicating compliance. After two decades in Europe and 10 years in the U.S., Labrador’s mission remains the same – to design and publish reader-centric documents that generate shareholder trust and reinforce their investment decisions. Focusing exclusively on corporate disclosure documents, and with over 300 clients worldwide, Labrador provides a unique insight into industry trends and best practices, and award-winning innovation and initiatives.