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The Effect of Staggered Boards on Firm Value for Real Estate Investment Trustee Did Thesis in The John Olson School of BusinessPresented in Partial Fulfillment of the Requirements For the Degree of
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Staggered boards refer to a governance structure where members of the board of directors are divided into classes and serve staggered terms, meaning not all members are up for election at the same time. This can lead to more stability in governance. Long-term typically refers to goals or strategies that are planned and executed over an extended period, usually exceeding one year.
Publicly traded companies are typically required to disclose information regarding staggered boards and long-term strategies in their filings with regulatory bodies, like the Securities and Exchange Commission (SEC).
Companies must provide detailed documentation regarding their board structure, terms of office, and any long-term strategies or plans in the appropriate SEC forms, such as Form 10-K or 8-K, making sure to follow specific guidelines outlined by the SEC.
The purpose of staggered boards is to prevent hostile takeovers and ensure continuity in governance, while long-term strategies aim to foster sustainable growth and stability within the company.
Companies must report the structure of their board, the length of terms for each class of directors, any provisions for succession planning, and the overarching long-term strategic objectives of the organization.
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