kaal:claim:5583610-031

Boards can use LER to build shareholder backing for corporate political activity, airdropping utility rewards to holders who vote for management-backed PAC funding or lobbying resolutions.

Source quote, verbatim

LER enables incumbent boards to incentivize shareholder support for corporate PACs or lobbying efforts by airdropping utility rewards to shareholders who vote in favor of management-backed initiatives.

From

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025), 7.3. Political Spending and Lobbying Incentives, p. 28
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

Holds when

post Citizens United corporate political spending
SEC disclosure of reward terms

Classification

designsupport: assertedrisk-and-incentives

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