Human capital proposal filings fell 37% from 2025 and nearly 60% from 2024. Over the past two years, governance proposal filings grew by about 18%. Shareholder proposal filings overall retreated twenty percent from last year’s levels and thirty-three percent from their peak in 2024. Matteo Gatti, Professor of Law at Rutgers Law School, said, "Governance proposals continued to stand out in a lower-volume proxy season. AI-related shareholder proposal filings increased modestly—from eighteen last year to twenty-four this cycle—reaching a three-year high but remaining rare overall.