Contact Information
100 S. Saunders Rd.
Suite 250
Lake Forest, IL 60045

Donald Kalfen


Donald has thirty years of professional experience, including over 25 years advising client’s on a broad range of technical, regulatory and corporate governance matters effecting the design, implementation and administration of executive compensation arrangements. These include accounting standards, tax rules, proxy disclosure requirements, securities exchange listing standards, governance standards and proxy voting guidelines of major institutional shareholders and their advisers, like ISS and Glass Lewis. He advises clients on design issues relating to short-term and long-term incentive plans, severance arrangements, change-in-control agreements, deferred compensation plans, and employment agreements. He serves public companies across all industries and of all sizes.

Donald has been published in many publications and involved in numerous speaking engagements including:

  • Presenter, Developments in Change in Control Severance Practices, NYSE Governance Series, 2015.
  • Donald G. Kalfen and Susan O’Donnell, What the CEO Pay Ratio Means for America’s Community Banks, American Banker, 2015.
  • Webcast Presenter, CEO Pay Ratio – Finding the Median Employee, NYSE Governance Series, 2015.
  • Panelist, The Dodd-Frank Act and Unprecedented Insider Accountability, Seminar jointly sponsored by Morgan Lewis and Meridian, 2015.
  • Donald Kalfen and Bob Romanchek, Grants for New Hires – Saving Shares, NACD, 2016.
  • Donald G. Kalfen, CEO Pay Ratio, Nasdaq Webpage, 2016.
  • Pay Ratio, KnowledgeGroup Webinar, 2017.
  • Pay Ratio panel discussion, Society for Corporate Governance (Chicago Chapter), 2017.
  • Donald Kalfen, CEO Pay Ratio: The Disclosure That Simply Will Not Fade Away, NACD, 2017

He has a BS in Accountancy from the University of Illinois (Urbana-Champaign) and a Juris Doctor (with high honors) from IIT Chicago-Kent College of Law. Donald is also a Certified Public Accountant.

Recent Insights By Donald Kalfen

Shareholder Proposal Seeks Binding Say on Director Pay Requirement

by Donald Kalfen on May 20, 2024

Client Alerts

Activist investors have brought a novel shareholder proposal that would require subject companies to provide an annual binding shareholder vote on director compensation.

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FTC Adopts Broad Ban on Noncompete Provisions

by Donald Kalfen on April 25, 2024

Client Alerts

The Federal Trade Commission has banned the use of noncompete provisions, with limited exceptions.

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