Page 30 - NG_AR_2017_022818
P. 30

2018 / $28M
2017 / $21.7M
2016 / $17.9M
2015 / $21.9M
2014 / $30.1M
2013 / $27.0M
Donlin Gold’s budget and average annual spend.
average annual spend*
* Reflects 100% of Donlin Gold (NOVAGOLD’s share is 50%)
In today’s economic environment – and recognizing that a high level of engagement with our shareholders is critical in ensuring our long-term success – it is imperative that our shareholders understand NOVAGOLD’s commitment to engagement enables a dialogue that will lead to implementing change as the company evolves.
In 2017, ahead of our Annual Meeting, we reached out to a majority of our shareholders, achieving an impressive turnout with 81% of the company’s issued and outstanding shares voted at the meeting.
Ours is an extremely engaged shareholder base, and, after conducting annual proxy meetings for more than  ve years and seeing the increased level of engagement by fund managers and responsible investors alike, NOVAGOLD’s Compensation Committee, Corporate Governance and Nominations Committee, and management concluded that it would be bene cial to conduct additional meetings outside of the proxy season.
To that end, we solicited post-proxy season meetings with the company’s 20 largest institutional shareholders with the following objectives: enhance our understanding of shareholders’ governance policies, standards, and expectations; discuss and gain a better understanding of expectations and concerns with respect to NOVAGOLD’s compensation, environmental, social, and governance- related policies to allow us to further improve our disclosure and consider alternative governance and compensation practices; and give our shareholders an opportunity to hear from representatives of the Compensation Committee and Corporate Governance and Nominations Committee on topics of interest to the shareholder.
After successfully completing these shareholder meetings, we reported the  ndings to the Compensation Committee, the Corporate Governance and Nominations Committee, and to the board. In response to matters discussed during this engagement, our board has implemented several governance and compensation changes.
The focus for 2018 will be to build upon last year’s e orts. We
will endeavor to enhance disclosure in our management information circular, annual report, and other relevant corporate materials to better communicate NOVAGOLD’s activities, e orts, and progress in clear
and engaging ways. Also, by staying attuned to best practices and regulatory changes, we will work to stay ahead of the curve.

   28   29   30   31   32