kaal:claim:5583610-029

Traditional golden leash arrangements pay activist-nominated directors and generate conflicts of interest, whereas LER offers non-transferable utility-only rewards that induce activists to withdraw nominations without any cash flowing to directors.

Source quote, verbatim
Unlike traditional golden leash arrangements, which may involve financial payments to activist-nominated directors and raise conflicts of interest,116 LER offers non-transferable, utility-only voucher rewards to encourage activists to withdraw nominations
From

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025), 6.2. Co-Opting Activists Through Utility Rewards, p. 25
https://ssrn.com/abstract=5583610 · source PDF

Cite as

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610

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Classification

designsupport: arguedcorporate-governance

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