The 2010 annual meeting season is shaping up to be an active onefor shareholder proxy measures, particularly those dealing withexecutive compensation issues. But if Congress and the Securitiesand Exchange Commission act on pending measures that make it easierfor competing candidates to run for director and give shareholdersmore say over compensation, this year could end up looking like thecalm before the storm.

“I doubt that Congress or the SEC would change the rules in themiddle of this meeting year,” says Patrick McGurn, general counselat RiskMetrics Group, which monitors shareholder actions. “But bothreforms look to be on track for 2011.”

Meanwhile, McGurn predicts that there will be some “eye-poppingdisclosures” of executive bonuses issued last year, and says thesewill fuel more push-back measures on compensation by shareholdersthis year and next.