Michael Herman, senior vp and basic counsel at Regency Facilities Corp. (Nasdaq: REG), sat down for a video interview at Nareit’s REITwise: 2026 Instructional Convention in Hollywood, Florida, March 24-26.
Herman described a interval of speedy and overlapping change in company governance. He pointed to the “sheer quantity” of shifts—from evolving SEC priorities to altering shareholder dynamics—as unprecedented.
A key disruption is the transfer from human to AI evaluation of proxy statements, he mentioned, which may basically alter how corporations talk with traders. On the identical time, the normal affect of proxy advisors is declining, whereas main institutional traders are adopting new, extra advanced voting constructions, resulting in elevated fragmentation and fewer predictability for corporations.
Herman additionally famous that these shifts will have an effect on REITs and all public corporations, making it more durable to fulfill stakeholder expectations. Regardless of potential regulatory modifications—akin to decreased reporting frequency—he mentioned he believes REITs are unlikely to undertake them quickly attributable to entrenched infrastructure like debt covenants and investor expectations for transparency.
