Glass Lewis Releases 2023 Proxy Guidelines | Practical Law

Glass Lewis Releases 2023 Proxy Guidelines | Practical Law

Glass, Lewis & Co. released its 2023 proxy voting policy guidelines for the US and its ESG initiatives.

Glass Lewis Releases 2023 Proxy Guidelines

Practical Law Legal Update w-037-6377 (Approx. 4 pages)

Glass Lewis Releases 2023 Proxy Guidelines

by Practical Law Corporate & Securities
Published on 17 Nov 2022USA (National/Federal)
Glass, Lewis & Co. released its 2023 proxy voting policy guidelines for the US and its ESG initiatives.
On November 17, 2022, Glass, Lewis & Co. (Glass Lewis) released its 2023 Proxy Voting Policy Guidelines for the US and its ESG initiatives.
For US companies, the 2023 voting guidelines include changes and clarifications to policies on the topics of:
In addition, Glass Lewis' 2023 ESG Initiatives Policy Guidelines includes notable updates applicable to shareholder proposals, such as:
  • A new discussion regarding Glass Lewis' approach to disclosure of shareholder proponents at US companies.
  • The codification of Glass Lewis' approach to analyzing proposals requesting companies to undertake racial equity or civil rights audits.
  • An updated approach to proposals requesting companies adopt a policy requiring shareholder approval of severance payments exceeding 2.99 times the amount of the executive's base salary plus bonus.
The updated policy guidelines will apply for shareholder meetings held on or after January 1, 2023.
For more information on Glass Lewis and the role of proxy advisory firms, see Practice Note, Developing Relationships with Proxy Advisory Firms.