Delaware Courts Continue Strict Review of Compensation Matters; Practical Advice on Decision-Making Processes

On April 27, 2022, Vice Chancellor Sam Glasscock of the Delaware Court of Chancery issued an opinion, on a motion to dismiss, addressing several important governance topics about director and officer compensation—including where some members of management might constitute controlling stockholders. In this case—Knight v. Miller 1 —the plaintiff, a stockholder of Universal Health Services, Inc. (UHS…

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