ISS Opens Peer Group Submission and Review Window | Practical Law

ISS Opens Peer Group Submission and Review Window | Practical Law

The Institutional Shareholder Services (ISS) peer group submission and review window has opened for companies in the US, Europe, and Canada.

ISS Opens Peer Group Submission and Review Window

Practical Law Legal Update w-022-7974 (Approx. 3 pages)

ISS Opens Peer Group Submission and Review Window

by Practical Law Corporate & Securities
Published on 12 Nov 2019USA (National/Federal)
The Institutional Shareholder Services (ISS) peer group submission and review window has opened for companies in the US, Europe, and Canada.
On November 4, 2019, the Institutional Shareholder Services (ISS) announced that it would be opening its peer group submission and review window for companies in the US, Europe, and Canada. The window for submissions opens at 9:00 AM EST on Monday, November 18, 2019, and will close at 8:00 PM EST on Friday, December 6, 2019.
As part of ISS' peer group construction process, companies may submit changes they have made to their self-selected peer groups for their next proxy disclosure. ISS considers companies' self-selected peer groups as an important input as part of its own peer group construction methodology, but not necessarily determinative of the peer group ISS will select.
The pending ISS peer submission and review window will be available for US and Canadian companies with annual meetings slated to be held between February 1, 2020, and September 15, 2020, and for European companies between February 1, 2020, and January 31, 2021.
Submissions should reflect peer companies used (or to be used) by the submitting company for pay-setting for the fiscal year ending prior to the company's next upcoming annual meeting. All companies are encouraged to review their peer group irrespective of whether there are changes from prior years.
Companies that have made no changes to their previous proxy-disclosed executive compensation benchmarking peers, or companies that do not wish to provide this information in advance, do not need to participate. For companies that do not submit changes, the proxy-disclosed peers from the company's last proxy filing will automatically be considered in ISS' peer group construction process.
For more information on proxy advisory firms, see Practice Note, Developing Relationships with Proxy Advisory Firms.