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Expert Analysis

How Occasional Activists Have Reshaped Proxy Fights

By Spencer Klein, Tyler Miller and Lulu Sun ( October 14, 2025, 8:33 PM EDT) -- Shareholder activism by investors that are not dedicated activist funds and do not regularly use activist tactics — such as institutional investors and individuals, including company insiders, or other first-time activists — continues to be an important theme in 2025 proxy contests. While 2024 proved to be a peak year for so-called occasional activism and activist campaigns in general, the landscape of shareholder activism is still evolving in 2025 despite a slight decline in overall activity....

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