On November 17, shareholder engagement and activism head Elizabeth Gonzalez-Sussman moderated the panel “Governance and Shareholder Activism” as part of Practising Law Institute’s 23rd annual Directors’ Institute on Corporate Governance. The panel addressed practices and pitfalls from the 2025 proxy season, current trends in shareholder activism, risks and benefits of board-level engagement with activist investors, off-season activist engagements and considerations for the 2026 proxy season and beyond.