Shareholder activism can take many forms, but generally refers to times when an investor uses an equity stake in a company to put pressure on the management. These pressures are meant to convince management of making a change that ranges from financial policy changes, or non-financial ventures such as adopting environmentally friendly policies or changing corporate governance. Dealing with activism has always been an important component of IR, but has recently risen to the spotlight and now occupies the forefront of many IROs’ concerns. Additionally, the number of activist campaigns against companies has dramatically increased in the past few years. It is only natural to wonder, how has activism changed over the years, and what characteristics of companies are activists finding more attractive?