Thanks for the great explanation on embedding fonts in Word, Matt!
I have tried that feature in the past but given up on ever getting it to work right, and the article is helpful to understand the built-in limitations and why it often fails.
My personal workaround is to define the Normal style as Equity with minimal formatting. All of my other styles are based on Normal. When I share a draft with a client or colleague, my final step before sending is to change the Normal font to Times, which then populates through all the other styles. This works better than a Ctrl-A change, which does not pick up footnotes and can be harder to undo. In my cover email, I tell the reviewer to ignore any formatting errors, and I immediately reverse the change on my end after sending the file. When I get down to final versions, I switch to PDF with the fonts.
This method is not ideal, but it’s functional until Word starts supporting fully embedded fonts for Mac and PC.